Payday Loans in Hudson, Maine

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

Company nameAddressZip codePhone number
TD Bank 56 Portland Rd Suite 1, Kennebunk, ME 04043 +1 (207) 985 - 6544
United States Postal Service 116 Alfred Rd, West Kennebunk, ME 04094 +1 (800) 275 - 8777
Androscoggin Bank 207 Auburn Rd, Turner, ME 04282 +1 (207) 225 - 3700
Camden National Bank 435 Main St, Damariscotta, ME 04543 +1 (207) 563 - 8222
RepubliCash, LLC 166 Center St B, Auburn, ME 04210 +1 (207) 333 - 3360
Androscoggin Bank 24 Portland Rd, Gray, ME 04039 +1 (207) 657 - 4446
Western Union Walgreens, 465 Main St, Westbrook, ME 04092 +1 (207) 854 - 9103
Saco & Biddeford Savings Institution 160 ME-111, Biddeford, ME 04005 +1 (207) 284 - 4591
TD Bank Contact Center 763 Turner St, Auburn, ME 04210 +1 (888) 751 - 9000
Bath Savings Institution 424 US-1, Yarmouth, ME 04096 +1 (207) 846 - 1156

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hudson, ME, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Bangor, ME, Guaranteed Loans in Lewiston, ME and 24-Hour Loan 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 Hudson, ME.

Beautiful sights of Hudson, ME

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

04449

Are Payday Loans Legal In Hudson, 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

Hudson, ME payday loan calculator

Introduction

Payday loans have become an increasingly popular way to get quick cash in Hudson, Maine. However, it is important to note that these loans are only permitted for supervised lenders in the state of Maine. While payday loans can provide some relief for people facing financial emergencies, they also come with high-interest rates and fees that can quickly spiral out of control. In this article, we will explore the ins and outs of payday loans in Hudson, Maine, and provide valuable information to help you make informed decisions.

What are Payday Loans?

A payday loan is a short-term loan designed to provide borrowers with quick access to cash. These loans are typically due on the borrower’s next payday, hence the name ‘payday loan’. Payday loans are usually unsecured, which means you don’t have to provide any collateral to get approved. They are often used to cover unexpected expenses, such as car repairs or medical bills.

How do Payday Loans Work in Maine?

In Maine, payday loans are only permitted for supervised lenders. This means that any lender who wants to provide payday loans must obtain a license from the state of Maine and adhere to strict regulations. The maximum loan amount allowed in Maine is $2,000, and the maximum loan term is 35 days.

Lenders in Maine are not allowed to charge more than 30% APR on payday loans. This means that if you borrow $100, the most you will be charged in interest and fees is $130. Additionally, lenders in Maine are required to provide you with a written agreement that outlines the terms and conditions of the loan.

Pros and Cons of Payday Loans

Like any financial product, payday loans have their pros and cons. Here are some things to consider before taking out a payday loan in Hudson, Maine:

Pros:

– Quick access to cash
– No collateral required
– Can be approved with bad credit

Cons:

– High-interest rates and fees
– Short repayment terms
– Can lead to a cycle of debt

How to Apply for a Payday Loan in Hudson, Maine

If you decide that a payday loan is right for you, there are a few steps you’ll need to take to apply:

  1. Find a licensed, supervised lender in Hudson, Maine.
  2. Gather the required documents, such as proof of income and identification.
  3. Complete the lender’s application form.
  4. Review and sign the loan agreement.
  5. Receive your funds. Most lenders will deposit the money directly into your bank account.

Interesting Facts about Payday Loans in Hudson, Maine

– Over 20% of Maine residents have used a payday loan in the past year.
– The average payday loan in Maine is $375.
– Maine has some of the strictest payday loan regulations in the country.

Apply Now

If you need a payday loan in Hudson, Maine, TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application form today and get started on the road to financial freedom. Remember, we are a connector service and not a direct lender. We will work to facilitate your connection with potential lenders that best fit your financial needs.

Conclusion

Payday loans can be a viable option for people facing financial emergencies in Hudson, Maine. However, it is important to understand the risks and benefits of these loans before you take one out. Make sure to do your research, find a licensed, supervised lender, and read the loan agreement carefully. With the right information and resources, you can make informed decisions about your finances and achieve your goals.

F.A.Q.

Is it possible to have a payday loan in Hudson, Maine forgiven or cancelled?

Yes, in some cases, payday loans in Hudson, Maine may be forgiven or cancelled. For example, if the lender violates state law or if the borrower is unable to repay the loan due to unforeseen circumstances, the loan may be forgiven or cancelled.

Are there any alternative loan options available in Hudson, Maine?

Yes, there are alternative loan options available in Hudson, Maine, such as personal loans, installment loans, and credit union loans. These options may have lower interest rates and more flexible repayment terms than payday loans.

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