Payday Loans in Alna, Maine

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No payday loan companies in Alna, ME. Consider companies in other cities:

Company nameAddressZip codePhone number
Saco & Biddeford Savings Institution 160 ME-111, Biddeford, ME 04005 +1 (207) 284 - 4591
RepubliCash, LLC 682 Main St, South Portland, ME 04106 +1 (207) 774 - 7680
Cuso Mortgage Corporation 101 Western Ave, Hampden, ME 04444 +1 (207) 862 - 2876
Kennebec Savings Bank 84 Main St, Winthrop, ME 04364 +1 (207) 377 - 5801
cPort Credit Union 399 Western Ave, Augusta, ME 04330 +1 (207) 623 - 1001
Katahdin Trust 52 Springer Dr, Bangor, ME 04401 +1 (207) 947 - 9674
Norway Savings Bank 621 Roosevelt Trail, Naples, ME 04055 +1 (207) 693 - 6224
Norway Savings Bank 688 US-1, Yarmouth, ME 04096 +1 (207) 846 - 8701
Maine Financial Group 144 US-1, Scarborough, ME 04074 +1 (207) 885 - 5900
ACE Cash Express 107 Pleasant St, Brunswick, ME 04011 +1 (207) 725 - 9031

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Alna, ME, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Bangor, ME, Payday Loans in Lewiston, ME and Payday Loan for Portland, ME. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Alna, ME.

Beautiful sights of Alna, ME

Payday Loans Available in Alna, ME By The Following ZIP Codes:

04535

Are Payday Loans Legal In Alna, Maine?

Loan Rates and Fees, Laws and Regulations in Maine.

Maine Loan Regulations

Legal StatusPermitted for supervised lenders only
Interest Rate (APR, %)30% APR; In Fact - 217%
Maximum Loan Amount$2,000
Minimum Loan TermNot Specified
Maximum Loan TermNot Specified
Number of Rollovers AllowedNot specified
Finance ChargesAlternative to small loan cap: <$75 = $5; $75-$250 = $15; >$250 = $25

Alna, ME payday loan calculator

The Ins and Outs of Payday Loans in Alna, Maine

If you’re in Alna, Maine and facing unexpected expenses or a financial shortfall, a payday loan might seem like a quick and easy solution. However, before you dive in, it’s important to understand exactly what payday loans are, how they work, and what the regulations surrounding them are in Maine.

What are payday loans?

Payday loans are short-term loans that are designed to provide immediate access to cash. They’re typically unsecured, meaning they don’t require collateral, and are usually meant to be paid back on your next payday. Unlike traditional loans, which may require extensive credit checks and lengthy application processes, payday loans are designed to be easy to access.

How do payday loans work?

To apply for a payday loan, you’ll need to provide proof of income and a valid ID. You’ll fill out an application with information about your income and expenses, and the lender will use this information to determine how much money they’re willing to lend you. In Alna, Maine, payday loans are only permitted for supervised lenders and can’t exceed $2,000.

Once you’re approved, you’ll receive the loan amount, minus any fees or interest charges. Typically, payday loans come with high interest rates and fees, so it’s important to understand exactly how much you’ll be paying back.

What are the regulations around payday loans in Alna, Maine?

Maine has some of the strictest payday loan regulations in the country. Payday loans are only legal for supervised lenders, and lenders are required to follow specific guidelines when it comes to interest rates, fees, and loan amounts.

In Alna, Maine, you can’t borrow more than $2,000 with a payday loan. Additionally, interest rates are capped at 30% per year, which works out to an APR of 261%. Lenders are also prohibited from charging any additional fees or finance charges, aside from a $5 verification fee.

Why are payday loans controversial?

While payday loans can seem like a quick and easy solution to financial problems, they can also be controversial. Critics argue that payday loans can be predatory, targeting vulnerable populations and trapping them in a cycle of debt. Because payday loans come with high interest rates and fees, borrowers may find themselves struggling to pay them back and taking out additional loans to cover the initial loan.

It’s important to carefully consider whether a payday loan is the right option for you before you apply. If you have other options, such as a personal loan or borrowing from a friend or family member, those may be more financially beneficial in the long run.

Interesting Facts and Statistics on Payday Loans in Alna, Maine:

– In 2018, there were a total of 58,779 payday loans made in Maine, with a total loan volume of over $28.8 million.

– The average loan amount in Maine was $490, and the average APR was 217%.

– The vast majority of payday loans in Maine go to borrowers who take out more than one loan in a year. This suggests that many borrowers are struggling to pay back their initial loans and are turning to additional loans to stay afloat.

Apply Now

At TheGuaranteedLoans, we understand that unexpected expenses can be stressful and overwhelming. That’s why we’re here to help connect you with potential lenders who can offer you a payday loan in Alna, Maine. Our service is easy to use, and we’ll never charge you any fees for filling out an application. Remember, we’re not a lender, but rather a connector service that can help you access the resources you need to manage your finances. If you’re interested in applying for a payday loan in Alna, Maine, fill out our quick and easy application today.

F.A.Q.

Can I be charged with a penalty if I miss a payment on my payday loan in Alna, Maine?

Yes, if you miss a payment on your payday loan in Alna, Maine, the lender may charge you a penalty fee. This fee is in addition to any interest or other fees that may be charged for the loan. It is important to make your payments on time to avoid incurring any additional fees.

Can I have multiple payday loans in Alna, Maine at the same time?

No, you can only have one payday loan in Alna, Maine at a time.

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