Payday Loans in Steep Falls, Maine

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

Company nameAddressZip codePhone number
Norway Savings Bank 7 High St, South Paris, ME 04281 +1 (207) 743 - 9771
Atlantic Federal Credit Union 41 Mallett Dr, Freeport, ME 04032 +1 (207) 865 - 2830
American Mortgage Market Inc 1071 Auburn Rd A, Turner, ME 04282 +1 (207) 225 - 5937
New Dimensions FCU 72 Cony St, Augusta, ME 04330 +1 (207) 430 - 0779
Walmart Vision & Glasses 30 Landing Rd, Windham, ME 04062 +1 (207) 892 - 8992
KeyBank 1 Post Office Square, Kennebunk, ME 04043 +1 (207) 985 - 3584
Saco Valley Credit Union 860 Main St, Waterboro, ME 04087 +1 (207) 247 - 6000
Bangor Savings Bank 882 Lisbon St, Lewiston, ME 04240 +1 (207) 782 - 2133
Casco Federal Credit Union 393 Ossipee Trail E, Gorham, ME 04038 +1 (207) 839 - 5588
KeyBank 135 Main St, Freeport, ME 04032 +1 (207) 865 - 4472

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Steep Falls, 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 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 Steep Falls, ME.

Beautiful sights of Steep Falls, ME

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

04085

Are Payday Loans Legal In Steep Falls, 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

Steep Falls, ME payday loan calculator

Payday Loans in Steep Falls, Maine

Payday loans are short-term loans, usually for small amounts of money, that are borrowed against the borrower’s next paycheck or income. These types of loans are often used to cover unexpected expenses or emergencies that cannot wait until the borrower’s next payday.

The Legality of Payday Loans in Steep Falls, Maine

In Maine, payday loans are permitted for supervised lenders only. This means that only licensed and regulated lenders are allowed to offer payday loans to Maine residents.

The state of Maine has put in place laws and regulations to protect consumers from predatory lending practices. One of these regulations is a cap on the interest rate that can be charged on payday loans. The maximum interest rate that can be charged on payday loans in Maine is 30%, which is significantly lower than the rates charged in other states.

How to Apply for a Payday Loan in Steep Falls, Maine

If you find yourself in need of a payday loan in Steep Falls, Maine, you can apply for one online from the comfort of your own home. TheGuaranteedLoans is a connector service that can help you find a lender that meets your needs. It is important to remember that TheGuaranteedLoans is not a direct lender, but rather a facilitator that can connect you with potential lenders.

To apply for a payday loan through TheGuaranteedLoans, simply visit our website and fill out the online application form. You will need to provide some basic information about yourself, including your name, address, and employment status. You may also be required to provide proof of income, such as a recent pay stub or bank statement.

The Benefits and Drawbacks of Payday Loans

Like any type of loan, payday loans have their pros and cons. One of the benefits of payday loans is that they are often available to individuals with poor credit or no credit history. This can be useful for individuals who are unable to qualify for traditional loans.

Another benefit of payday loans is that they are often available quickly and with minimal paperwork. This means that borrowers can receive the funds they need to cover unexpected expenses or emergencies within a short timeframe.

However, payday loans also have several drawbacks. One of the main drawbacks is the high interest rates that are often associated with these types of loans. In Maine, the interest rate cap provides some protection for borrowers, but in other states, interest rates on payday loans can exceed 400%.

Another drawback of payday loans is that they can lead to a cycle of debt, where borrowers take out multiple loans to cover expenses and end up paying larger and larger amounts of interest. It is important for borrowers to carefully consider the potential risks and benefits of payday loans before taking out a loan.

Interesting Facts and Statistics about Payday Loans in Steep Falls, Maine

  • In 2020, the average payday loan amount in Maine was $350.
  • Payday loans in Maine have an average interest rate of around 25%.
  • In 2019, there were 7 licensed payday lenders in Maine.
  • Maine has put in place strict regulations to protect consumers from predatory lending practices.

Apply Now

If you find yourself in need of a payday loan in Steep Falls, Maine, apply now with TheGuaranteedLoans. We can help connect you with potential lenders that meet your needs. Remember that TheGuaranteedLoans is not a direct lender, but rather a connector service that can help you find the right lender for your needs.

F.A.Q.

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

Yes, in some cases, payday loans in Steep Falls, 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 Steep Falls, Maine?

Yes, there are alternative loan options available in Steep Falls, 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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