Payday Loans in Farmingdale, Maine

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

Company nameAddressZip codePhone number
Morong Falmouth Mazda 187 US-1 1311, Falmouth, ME 04105 +1 (207) 781 - 4020
RepubliCash, LLC 682 Main St, South Portland, ME 04106 +1 (207) 774 - 7680
Camden National Bank 1176 Union St, Bangor, ME 04401 +1 (207) 973 - 0710
Pete Clancy-Caliber Home Loans 75 Market St 501, Portland, ME 04101 +1 (207) 415 - 4096
Penobscot County Federal Credit Union 466 Main St, Bangor, ME 04401 +1 (207) 941 - 6373
Atlantic Federal Credit Union 3 Union Park Road, Topsham, ME 04086 +1 (207) 319 - 1399
Camden National Bank 300 S Main St, Rockland, ME 04841 +1 (207) 594 - 2101
Bar Harbor Bank & Trust - Operations Center 1 Main Rd N, Hampden, ME 04444 +1 (888) 853 - 7100
Katahdin Trust 144 US-1, Scarborough, ME 04074 +1 (207) 510 - 7017
Five County Credit Union 171 Bath Rd, Brunswick, ME 04011 +1 (800) 750 - 0959

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Farmingdale, ME, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Bangor, ME, Online Loans in Lewiston, ME and Payday Loans in 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 Farmingdale, ME.

Beautiful sights of Farmingdale, ME

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

04344

Are Payday Loans Legal In Farmingdale, 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

Farmingdale, ME payday loan calculator

Payday Loans in Farmingdale, Maine

Payday loans, also known as cash advances, are a type of short-term loan designed to help individuals cover unexpected expenses until their next payday. These loans are typically smaller in size and usually have a repayment period of 14 days to one month.

In Farmingdale, Maine, payday loans are permitted for supervised lenders only. This means that payday lenders are regulated by the Maine Bureau of Consumer Credit Protection to ensure fair lending practices and protect consumers from predatory lending.

How do Payday Loans Work in Farmingdale, Maine?

In Farmingdale, Maine, payday loan borrowers typically fill out an application and provide proof of income and a checking account. The lender will then evaluate the application and, if approved, provide the borrower with cash or a check for the loan amount. The borrower will then have to repay the loan amount, plus fees and interest, on their next payday.

It’s important to note that payday loans in Farmingdale, Maine are subject to regulations that limit the fees and interest rates that lenders can charge. The maximum interest rate allowed for payday loans in Maine is 30%, which means that borrowers can expect to pay no more than $30 in interest for every $100 borrowed.

What are the Pros and Cons of Payday Loans?

  • Pros: Payday loans are easy to obtain, can help cover unexpected expenses, and can be a helpful resource if managed responsibly.
  • Cons: Payday loans often have high fees and interest rates, short repayment periods, and can lead to a cycle of debt if not repaid on time.

Why Choose TheGuaranteedLoans?

If you’re considering a payday loan in Farmingdale, Maine, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, which means we work with a network of trusted lenders to help you find a loan that fits your needs.

At TheGuaranteedLoans, our process is simple and easy. You can fill out an online application in minutes and receive a decision quickly. If approved, you could receive funds as soon as the next business day.

Remember, payday loans should be used as a last resort and borrowed responsibly. If you’re struggling with debt or need financial assistance, consider speaking with a financial advisor or credit counseling service to explore your options.

Interesting Facts and Statistics about Payday Loans in Farmingdale, Maine

  • According to a study by Pew Charitable Trusts, the average payday loan borrower takes out eight loans per year and spends about $520 on fees alone.
  • As of 2020, there were 53 payday lenders operating in Maine, with the majority of them located in highly populated areas such as Portland and Lewiston.
  • The Maine Bureau of Consumer Credit Protection received 326 complaints related to payday lending in 2020, with the majority of complaints related to high fees, aggressive collection practices, and unauthorized withdrawals from bank accounts.

Apply Now

If you’re considering a payday loan in Farmingdale, Maine, TheGuaranteedLoans can help you connect with potential lenders. Fill out our online application today to get started. Remember, payday loans should be used responsibly and as a last resort.

F.A.Q.

Can I file a complaint against a payday lender in Farmingdale, Maine if I feel I have been treated unfairly?

Yes, if you feel that you have been treated unfairly by a payday lender in Farmingdale, Maine, you can file a complaint with the Maine Bureau of Consumer Credit Protection. The bureau will investigate your complaint and take appropriate action if necessary.

Are there any resources available to help me manage my debt and avoid taking out payday loans in Farmingdale, Maine?

Yes, there are several resources available to help you manage your debt and avoid taking out payday loans in Farmingdale, Maine. These include financial counseling services, budgeting tools, and debt management programs. You can also contact the Maine Bureau of Consumer Credit Protection for more information.

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