Payday Loans in North Bridgton, Maine

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

Company nameAddressZip codePhone number
Twin City Financial Group 1071 Lisbon St, Lewiston, ME 04240 +1 (207) 777 - 6266
Evergreen Credit Union 799 Broadway, South Portland, ME 04106 +1 (207) 221 - 5000
Cumberland County Federal Credit Union 43 Lewiston Rd, Gray, ME 04039 +1 (207) 657 - 4777
TD Bank 23 Portland Rd, Gray, ME 04039 +1 (207) 657 - 4991
Rozanna Patane 29 Sentry Hill Rd, York, ME 03909 +1 (207) 363 - 7744
Norway Savings Bank 1 Parkway Rd 100, Bethel, ME 04217 +1 (207) 824 - 4989
Androscoggin Bank 580 Lisbon St, Lisbon Falls, ME 04252 +1 (207) 353 - 3140
Terry Lemay - Mortgage Loan Officer 76 Main St, Newport, ME 04953 +1 (207) 200 - 1016
United Methodist FCU 201 Main St STE 2, Westbrook, ME 04092 +1 (207) 591 - 4183
University Credit Union - Bangor 977 Union St, Bangor, ME 04401 +1 (800) 696 - 8628

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in North Bridgton, 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 Without a Credit Check 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 North Bridgton, ME.

Beautiful sights of North Bridgton, ME

Are Payday Loans Legal In North Bridgton, 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

North Bridgton, ME payday loan calculator

Payday Loans in North Bridgton, Maine: A Comprehensive Guide

If you find yourself in a financial bind in North Bridgton, Maine, you may be considering a payday loan. These loans can provide quick access to cash, but it’s important to understand the regulations that govern payday lending in Maine and the potential risks associated with these types of loans. In this article, we’ll provide a comprehensive guide to payday loans in North Bridgton, Maine.

What are Payday Loans?

A payday loan is a short-term, high-interest loan that’s typically due on your next payday. These loans are designed to provide quick access to cash, but they can also come with high fees and interest rates. In Maine, payday loans are permitted for supervised lenders only, which means that payday lenders must be licensed and regulated by the state.

Regulations for Payday Lenders in Maine

In Maine, payday lenders are regulated by the Maine Office of Consumer Credit Regulation. Lenders are required to be licensed and must follow certain regulations to ensure that loans are fair and transparent. These regulations include:

  • Capping interest rates at 30%
  • Limiting loan amounts to $2,000 or less
  • Requiring lenders to disclose all fees and charges
  • Limiting the number of consecutive loans that a borrower can take out

Pros and Cons of Payday Loans

Like any financial product, payday loans have both advantages and drawbacks. Here are a few of the pros and cons to consider:

Pros:

  • Quick access to cash when you need it
  • No collateral required
  • Easy application process

Cons:

  • High interest rates and fees
  • Short repayment terms
  • Potential for debt cycle

Interest Rates and Fees

As previously mentioned, Maine caps interest rates on payday loans at 30%. However, lenders may still charge additional fees and charges. Make sure to carefully review all fees and charges associated with a payday loan before signing a loan agreement.

Alternatives to Payday Loans

If you’re considering a payday loan, it’s important to explore all of your options. Here are a few alternatives to consider:

Credit Union Loans: Credit unions may offer small-dollar loans with lower interest rates and fees than payday loans.

Credit Counseling: A credit counselor can help you create a budget and develop a debt repayment plan.

Personal Loans: Depending on your credit score, you may be able to qualify for a personal loan with a lower interest rate than a payday loan.

Interesting Facts and Statistics

  • In Maine, the average payday loan amount is $350.
  • In 2019, Maine payday lenders issued more than 200,000 loans.
  • In Maine, the maximum loan term for a payday loan is 31 days.

Apply Now

If you’re in need of cash, TheGuaranteedLoans can help connect you with potential lenders in North Bridgton, Maine. Our online application process is quick and easy, and we’ll guide you through each step of the process. Remember, we’re a connection service, not a direct lender, so we’ll work to find the right lender for your needs.

Final Thoughts

Payday loans can provide quick access to cash, but they’re not without risks. It’s important to understand the regulations governing payday lending in Maine and to carefully review all fees and charges associated with a payday loan. Remember to explore all of your options and to only borrow what you can afford to repay.

F.A.Q.

Can I be charged with late fees if I am unable to make my payday loan payment on time in North Bridgton, Maine?

Yes, if you are unable to make your payday loan payment on time in North Bridgton, Maine, the lender may charge you late fees. These fees are in addition to any interest or other fees that may be charged for the loan.

Can I be charged with additional fees if I want to pay off my payday loan early in North Bridgton, Maine?

No, in North Bridgton, Maine, payday lenders are not allowed to charge any additional fees for early repayment of a loan. If you are able to pay off your loan early, you can do so without incurring any additional costs.

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