Payday Loans in South Windham, Maine

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

Company nameAddressZip codePhone number
TD Bank 95 Main St, Gorham, ME 04038 +1 (207) 839 - 0080
Varney Agency Livermore Falls ME 28 Main St, Livermore Falls, ME 04254 +1 (207) 897 - 2811
Jackson Hewitt Tax Service 30 Landing Rd, Windham, ME 04062 +1 (207) 844 - 6161
People's United Bank 790 Main St, Westbrook, ME 04092 +1 (207) 856 - 7400
Camden National Bank 137 Maine St, Brunswick, ME 04011 +1 (207) 798 - 5572
Androscoggin Bank 130 Middle St, Portland, ME 04101 +1 (207) 518 - 6300
Evergreen Credit Union 225 Riverside St, Portland, ME 04103 +1 (207) 221 - 5000
Affiliated Collections Inc 931 Union St, Bangor, ME 04401 +1 (800) 640 - 0545
Bar Harbor Bank & Trust 201 Main St, Bangor, ME 04401 +1 (207) 942 - 4801
People's United Bank 439 US-1, Scarborough, ME 04074 +1 (207) 883 - 3339

Payday Loan Companies in Nearby Cities

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

Beautiful sights of South Windham, ME

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

04082

Are Payday Loans Legal In South Windham, 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

South Windham, ME payday loan calculator

Overview of Payday Loans in South Windham, Maine

If you’re looking for quick financial assistance, payday loans can be a lifesaver. In South Windham, Maine, supervised lenders are the only ones permitted to offer payday loans. This article will discuss the ins and outs of payday loans in South Windham, Maine, how to apply, and other relevant information consumers should be aware of.

How do Payday Loans Work in South Windham, Maine?

Payday loans, also known as cash advances, are short-term loans usually due on the borrower’s next payday. In South Windham, Maine, the maximum loan amount that supervised lenders can offer is $2,000, and these loans must be repaid within 30 days.

Interest rates for payday loans in South Windham cannot exceed 30% per annum, and lenders are allowed to charge a fee of up to $5 for loan verification.

To qualify for payday loans in South Windham, Maine, borrowers must have a valid account with a financial institution and a steady source of income. Borrowers can apply in-person or online and typically receive approval within minutes of application.

Benefits of Payday Loans in South Windham, Maine

Payday loans can be a valuable resource for individuals who are experiencing financial hardship and need access to immediate cash. Unlike traditional loans, payday loans don’t require extensive paperwork and have a faster approval process.

Additionally, payday loans don’t require collateral, making them accessible to individuals who might not have assets to secure a loan. This loan type can also help individuals build their credit score if they make timely payments on their loan.

Risks of Payday Loans in South Windham, Maine

While payday loans can be beneficial, they also come with significant risks. The interest rates and fees associated with payday loans are typically much higher than traditional loans, making it challenging to repay the loan amount on time.

If a borrower can’t repay the loan on time, they may be forced to roll over their loan, incurring additional fees and interest. This cycle can lead the borrower into a dangerous cycle of debt, making it challenging to pay off the loan amount.

Apply Now

If you’re considering a payday loan in South Windham, Maine, TheGuaranteedLoans is here to help. We connect borrowers with potential lenders, making the loan application process as simple as possible.

Our goal is to ensure that borrowers have access to the financial resources they need to manage their expenses. Fill out our online application now, and we’ll help connect you with potential lenders.

Interesting Facts and Statistics about Payday Loans in South Windham, Maine

– As of 2021, supervised lenders in Maine have issued more than 625,000 payday loans.
– The average payday loan amount in Maine is $481.
– Between 2019 and 2020, payday loan borrowers in Maine paid an estimated $36 million in interest and fees.

In conclusion, payday loans can be a useful resource for individuals who need immediate financial assistance. However, before applying for a payday loan, borrowers must consider the risks and benefits associated with this loan type. By understanding the terms and conditions of the loan, borrowers can make informed decisions and avoid falling into a cycle of debt.

F.A.Q.

Can I be charged with a default fee if I am unable to make my payday loan payment on time in South Windham, Maine?

Yes, if you are unable to make your payday loan payment on time in South Windham, Maine, the lender may charge you a default fee. This fee is in addition to any interest or other fees that may be charged for the loan.

Can I be charged with a penalty if I miss a payment on my payday loan in South Windham, Maine?

Yes, if you miss a payment on your payday loan in South Windham, Maine, the lender may charge you a penalty fee. This fee is in addition to any interest or other fees that may be charged for the loan. It is important to make your payments on time to avoid incurring any additional fees.

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