Payday Loans in Pemaquid, Maine

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

Company nameAddressZip codePhone number
Atlantic National Trust 50 Portland Pier 400, Portland, ME 04101 +1 (800) 347 - 1080
Patricia Quinn - CMG Financial Mortgage Loan Officer NMLS 1590467 155 Center St Building C, Auburn, ME 04210 +1 (207) 975 - 2844
Partners Bank 40 Sokokis Trail, East Waterboro, ME 04030 +1 (888) 226 - 5747
People's United Bank 11 Woodbridge Rd, York, ME 03909 +1 (207) 363 - 2151
New Dimensions FCU 72 Cony St, Augusta, ME 04330 +1 (207) 430 - 0779
Jerry Armand Jalbert Fairway Independent Mortgage Corporation Loan Officer 460 Main St 2, Springvale, ME 04083 +1 (207) 450 - 4707
Katahdin Trust 144 US-1, Scarborough, ME 04074 +1 (207) 510 - 7017
Dirigo Federal Credit Union 20 Washington St N, Auburn, ME 04210 +1 (207) 783 - 0351
New Dimensions Federal Credit Union 72 Cony St, Augusta, ME 04330 +1 (207) 430 - 0779
Norway Savings Bank 557 Main St, Fryeburg, ME 04037 +1 (207) 935 - 2051

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Pemaquid, 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 Pemaquid, ME.

Beautiful sights of Pemaquid, ME

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

04539, 04541, 04554, 04558, 04564, 04573

Are Payday Loans Legal In Pemaquid, 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

Pemaquid, ME payday loan calculator

Payday Loans in Pemaquid, Maine: What You Need to Know

Payday loans are a type of short-term loan designed to assist individuals who need quick access to cash. In Pemaquid, Maine, supervised lenders are the only permitted providers of payday loans. However, before taking out a payday loan, it’s essential to understand how they work, their costs, and the risks involved.

The Basics of Payday Loans in Pemaquid, Maine

In Maine, payday loans are limited to a maximum of $2,000 and a term of fewer than 35 days. Lenders may charge interest rates up to 30% per year on the initial $2,000 of the loan amount. For amounts above $2,000, they may charge up to 24% per year. Pemaquid residents can apply for a payday loan in-person at a supervised lender or online through a connecting service like TheGuaranteedLoans.

The Pros and Cons of Payday Loans in Pemaquid, Maine

Payday loans can be a useful tool for individuals who need cash quickly. With same-day funding and minimal eligibility requirements, they provide an avenue to obtain funds quickly. However, payday loans can be costly, with an average interest rate of 391%. In Pemaquid, Maine, borrowers must also beware of unsavory lenders who may charge exorbitant interest rates and fees, trapping consumers in a cycle of debt.

Applying for a Payday Loan in Pemaquid, Maine

Applying for a payday loan in Pemaquid, Maine, involves visiting a supervised lender’s office with the necessary documents, including proof of income, a valid ID, and a bank account. Alternatively, borrowers can apply for a payday loan online via connecting services like TheGuaranteedLoans. The approval process typically takes a few minutes, and funds are usually available the same day or the next business day.

Risks Associated with Payday Loans

  • High interest rates and fees
  • Potential for predatory lending practices
  • Risk of debt cycle
  • Impact on credit score if payments are not made on time

Interesting Facts and Statistics about Payday Loans in Pemaquid, Maine

  • According to the Maine Bureau of Consumer Credit Protection, the average payday loan in Maine is $380.
  • Approximately 13% of Maine households have taken out a payday loan in the past year.
  • The average APR on a payday loan in Maine is 260%.

Connect with Payday Loan Lenders in Pemaquid, Maine

TheGuaranteedLoans is a connecting service that helps borrowers find payday loan lenders in Pemaquid, Maine. Please note that we are not a direct lender and that by submitting an application, you authorize us to share your personal information with potential lenders who may offer you a loan. If you’re considering a payday loan, we encourage you to compare lenders’ rates and fees before accepting a loan offer.

In Summary: Understanding Your Options for Payday Loans in Pemaquid, Maine

If you’re considering a payday loan in Pemaquid, Maine, it’s essential to understand the risks associated with these loans. While they can provide quick access to cash, they can also be costly and lead to a cycle of debt. With that said, understanding the basics of payday loans, comparing loan offers from multiple lenders, and sticking to a repayment plan can help individuals make informed decisions and achieve financial stability.

Apply Now for a Payday Loan in Pemaquid, Maine

If you’re in need of quick cash and meet the eligibility requirements, you can apply for a payday loan in Pemaquid, Maine, through TheGuaranteedLoans. Our connecting service can put you in touch with lenders who may offer you a loan. Remember to compare rates and fees, read the loan agreement carefully, and only borrow the amount you can afford to repay to avoid falling into a debt cycle.

F.A.Q.

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

No, taking out a payday loan in Pemaquid, 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 Pemaquid, Maine?

Yes, payday lenders in Pemaquid, 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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