Payday Loans in Limington, Maine

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

Company nameAddressZip codePhone number
RepubliCash, LLC 726 Roosevelt Trail, Windham, ME 04062 +1 (207) 893 - 0005
First National Bank 132 Park St, Rockland, ME 04841 +1 (207) 594 - 5900
Camden National Bank 190 Water St, Gardiner, ME 04345 +1 (207) 588 - 8400
Camden National Bank 9 Pond Rd, Manchester, ME 04351 +1 (207) 622 - 4293
NBT Bank 5 Widgery Wharf 3rd floor, Portland, ME 04101 +1 (207) 808 - 4492
Absolute Credit LLC 175 Exchange St, Bangor, ME 04401 +1 (800) 680 - 5000
CASH X-PRESS 575 Main St, Bangor, ME 04401 +1 (207) 990 - 5906
Camden National Bank 16 Topsham Fair Mall Rd, Topsham, ME 04086 +1 (207) 798 - 5545
Raymond James 36 Main St, Kennebunk, ME 04043 +1 (207) 985 - 1600
Norway Savings Bank 31 Court St, Auburn, ME 04210 +1 (888) 725 - 2207

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Limington, ME, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Bangor, ME, Emergency Loan 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 Limington, ME.

Beautiful sights of Limington, ME

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

04049

Are Payday Loans Legal In Limington, 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

Limington, ME payday loan calculator

Understanding Payday Loans in Limington, Maine

Payday loans can be a valuable resource for individuals who need quick access to cash. These short-term loans provide borrowers with a small amount of money for a short period until their next paycheck. In Limington, Maine, supervised lenders are the only ones permitted to offer payday loans to borrowers.

For many people facing unexpected expenses, a payday loan can be a lifesaver. But before you take out a payday loan, it’s important to understand the regulations specific to Limington, Maine. Let’s explore this topic in-depth.

What is a Payday Loan?

A payday loan is a type of short-term loan that typically has a repayment term of 14 days or less. The loan amount is usually based on how much you earn from your current job. Lenders in Limington, Maine can charge up to $15 per $100 borrowed, up to $250.

Are Payday Loans Legal in Limington, Maine?

As mentioned earlier, payday loans are permitted for supervised lenders only in Maine. In 2009, the Maine legislature passed laws that restrict how much payday lenders can charge borrowers in interest and fees. These laws aim to protect borrowers from accumulating unmanageable levels of debt.

The Application Process

When applying for a payday loan, borrowers need to show proof of steady income and an active checking account. The lender will then assess the borrower’s eligibility for the loan and determine how much to lend. Borrowers should be aware that payday loans come with higher interest rates than traditional loans, making them more expensive in the long term.

Repaying Your Payday Loan

In Limington, Maine, payday lenders can charge up to $25 for returned checks and up to $10 per day on late payments. If you’re struggling to repay your payday loan, it’s essential to be honest with your lender to avoid accruing additional fees.

Understanding the Risks

Payday loans come with higher interest rates and fees than traditional loans. As a result, borrowers need to be aware of the risks associated with taking out a payday loan. If you fail to repay your loan on time, you may face additional fees and damage your credit score.

Apply Now

TheGuaranteedLoans is a connector service that can help you find a lender that fits your unique needs. Simply fill out an application on our website, and we will connect you with potential lenders. Remember, we are not direct lenders, but we can facilitate the connection between you and potential lenders.

Interesting Facts about Payday Loans in Limington, Maine

  • The average payday loan amount in Maine is $376.28
  • Payday lenders in Maine have to be licensed with the Maine Bureau of Consumer Credit Protection
  • Payday loans have an annual interest rate of between 217% and 442% in Maine

Payday loans are a popular short-term lending option in Limington, Maine. As with any loan, it’s crucial to research your options and understand the terms and conditions of your agreement before signing any contracts. By doing so, you can ensure that you’re making a responsible financial decision and avoid any potential pitfalls.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Limington, Maine?

No, taking out a payday loan in Limington, Maine is not a criminal offense. However, if you intentionally default on your payday loan and refuse to repay the loan, you may be charged with a crime such as theft or fraud.

Can I be charged with interest on my payday loan in Limington, Maine?

Yes, payday lenders in Limington, Maine are allowed to charge interest on loans, up to a maximum of 30% of the loan amount. This interest is in addition to any fees that may be charged for the loan.

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