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Payday Loans in Maine
Payday Loan Laws in Maine (2026)
Payday loans are allowed in Maine only through licensed supervised lenders, and they cost far less than in deregulated states. Instead of a special high-cost payday carve-out, Maine applies its Consumer Credit Code rate caps — 30% a year on the first $2,000, stepping down to 24% and 18% — so the triple-digit APRs common elsewhere aren't legal. Rollovers are barred.
| Status | Legal only via licensed supervised lenders — low-cost |
|---|---|
| Interest cap | 30%/yr on the first $2,000; 24% on $2,000–$4,000; 18% above |
| Minimum charge | $5 (loan ≤$75), $15 ($75–$250), or $25 ($250+) |
| License trigger | Required once the finance charge exceeds 12.25% a year |
| Rollovers | Prohibited; only a court-approved plan may extend a loan |
| Effect | Effective APRs stay far below typical payday rates |
| Regulator | Bureau of Consumer Credit Protection |
| Law | Maine Consumer Credit Code (9-A M.R.S. § 2-401) |
What Maine's rules mean for you
- Maine has no special high-cost payday product — these loans are made by licensed supervised lenders under the Consumer Credit Code's rate caps.
- Interest is capped at 30% a year on the first $2,000 (less above), so the triple-digit APRs common in deregulated states are not legal here.
- Any lender charging more than 12.25% a year must be licensed as a supervised lender.
- Rollovers are barred: a lender can't write a new loan to cover an old balance — only a court-approved repayment plan may extend the debt.
Problem with a lender? File a complaint
Consumer lenders in Maine are licensed by the Bureau of Consumer Credit Protection. To report a violation or an illegal lender, use the online complaint form.
Alternatives to a payday loan
Even at Maine's lower rates, compare a credit-union payday-alternative loan, an employer paycheck advance, or a payment plan with the biller. See our guide to payday loans and alternatives.
Your debt rights in Maine
A lender can garnish wages in Maine only after it sues and wins a court judgment, and federal law then caps how much can be taken. Maine does not run a statewide payday-loan database, so limits on how many loans you can hold are harder to track from lender to lender. Your rights when you cannot repay are set by a mix of federal and state law — these guides explain how they work:
- Can a payday lender sue you?
- Can payday loans garnish your wages?
- Do payday loans affect your credit?
- Payday loan statute of limitations
- How many payday loans can you have?
- How to get out of payday loan debt
Disclaimer: general information, not legal or financial advice. Laws change — verify the current rules with the Maine Bureau of Consumer Credit Protection before borrowing. Last reviewed 2026.
Sources
Frequently asked
Are payday loans legal in Maine?
They are allowed only through licensed supervised lenders and are subject to the Consumer Credit Code's rate caps, so high-cost payday loans aren't available.
What is the interest cap on small loans in Maine?
30% a year on the first $2,000, 24% on $2,000–$4,000, and 18% above — far below typical payday rates.
Can a payday loan be rolled over in Maine?
No. A lender can't write a new loan to cover an old balance; only a court-approved repayment plan may extend the debt.
Who regulates consumer lending in Maine?
The Maine Bureau of Consumer Credit Protection.