Personal loans in Maine
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
Maine personal loan rules at a glance
| Governing law | Maine Consumer Credit Code, Title 9-A, Article 2, Part 4 (maximum finance charges for consumer loans). (9-A M.R.S. §2-401) |
|---|---|
| Rate cap | For closed-end consumer loans, the finance charge may not exceed the equivalent of 30% a year on the part of the balance up to $2,000, 24% on the part from $2,000 to $4,000 and 18% on the part over $4,000. If the amount financed is over $8,000, the cap is 18% a year on the whole loan. A minimum charge of $5/$15/$25 (by loan size) is allowed instead. (9-A M.R.S. §2-401(2),(7)) |
| License required | Non-bank lenders must hold a supervised lender license from the Bureau to make or service supervised loans (loans with a rate above 12.25%); applications may be required through NMLS. (9-A M.R.S. §2-302) |
Bad credit loans in Maine
Bad credit doesn't automatically rule you out in Maine. Many lenders in our network look at your income and bank activity, not just your score, and offer personal installment loans of $500 to $5,000 to borrowers with fair or poor credit. Rates are higher than prime offers, so compare the monthly payment and total cost before you accept. More on bad-credit loans.
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Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Rate cap |
|---|---|
| New Hampshire | 36% APR cap on small loans up to $10,000, excluding two $100 yearly fees. |
Personal Loans by city in Maine
Counties in Maine
Show all 16 counties
Also see: Payday Loans in Maine · Title Loans in Maine · All Maine loan options
Frequently asked questions
Is there a cap on personal loan interest rates in Maine?
Tiered: 30% to $2,000, 24% to $4,000, 18% above; 18% if over $8,000.
Do personal loan lenders need a license in Maine?
Non-bank lenders must hold a supervised lender license from the Bureau to make or service supervised loans (loans with a rate above 12.25%); applications may be required through NMLS.
Can I get a personal loan with bad credit in Maine?
Yes, some lenders in our network work with fair or bad credit, but approval is not guaranteed and rates are higher. Licensed lenders in Maine must follow the state's consumer-lending rules shown above; tribal and bank-partner lenders may follow different rules, so compare the APR on every offer.
What credit score do I need for a personal loan in Maine?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Maine with our free 3-minute form.
How do installment loans work in Maine?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Maine residents can see installment loan offers with our free 3-minute form.
Can I get a personal loan in Maine with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Maine residents can see if they qualify for $100 to $5,000 in about 3 minutes.
Where can I find a loan for bad credit in Maine?
You can apply at local banks and lenders in Maine, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.