Maine lending rules
Maine has 23 Census places covered on Loansloth, with a combined estimated population of 390,874. Personal-loan terms in Maine are set by licensed lenders under state law; the sourced rules below apply to every borrower in the state.
Key rules for borrowers in Maine
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 30% per year on unpaid balances up to $2,000; 24% on $2,000–$4,000; 18% above $4,000 (9-A M.R.S. § 2-401(2)) Source says: "30% per year on that part of the unpaid balances of the amount financed that is $2,000 or less" |
Maine Legislature as of 2026-09-16 |
| Payday lending status | Payday lenders are licensed as supervised lenders by the BCCP and subject to the 9-A § 2-401 finance-charge caps Source says: "Supervised Lenders Including Mortgage Lenders and Servicers, Non-Mortgage Supervised Lenders, Payday Lenders, and Insurance Premium Finance Companies" |
Maine Bureau of Consumer Credit Protection as of 2026-09-16 |
| Small-loan / installment lender licensing | Supervised lender license required when the finance charge exceeds 12 1/4% per year (or the loan is secured by real estate); applications via NMLS Source says: "Anyone who makes, takes assignment of, or services consumer loans in which the rate of the finance charge ... exceeds 12 1/4% per year" |
Maine Bureau of Consumer Credit Protection as of 2026-09-16 |
| State lending regulator | Maine Bureau of Consumer Credit Protection (Department of Professional and Financial Regulation) Source says: "The Bureau of Consumer Credit Protection licenses and registers the following business entities" |
Maine Bureau of Consumer Credit Protection as of 2026-09-16 |
| Minimum finance charge for supervised lenders | $5 (loans ≤$75), $15 ($75–<$250), $25 (≥$250) — 9-A M.R.S. § 2-401(7) Source says: "the lender may contract for and receive a minimum charge of not more than ... Twenty-five dollars when the amount financed is $250 or more" |
Maine Legislature as of 2026-09-16 |
Cities in Maine
We cover 23 Census places in Maine.
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Frequently asked questions
What interest rate can a lender charge in Maine?
It depends on the product and the statute that governs it. The sourced table on this page lists Maine's usury cap and the licensing rules, each with its publisher and a link to the primary source.
Are payday loans legal in Maine?
Payday lending is regulated state by state; some states permit it, some cap it, and some prohibit it outright. See the sourced figure on this page for the current position.
Do I need a license to lend money in Maine?
Most consumer lenders must be licensed by the state regulator named on this page. You can verify a lender's license with that regulator before you sign anything.