Maine (ME) Payday loans Online, Cash Advances, Installment Loans, and Personal Finance Solutions

Maine payday loans and personal cash advances are now available online. No need to waste time applying at traditional banks and credit unions for personal loans or fixed installment solutions only to be put through extensive paperwork and scrutiny. Now you can hop online and have the personal funding you need in as little as just a few minutes. Helping people for over 10 years online, our partner network consists of over 100+ U.S. banks and financial institutions who lend money today. With our secure 128-bit encryption (SSL) protection, rest assured your sensitive personal information is safe guarded and transmitted securely to our partner lending network. Once you fill out our secure form, approvals happen in seconds. All rates and terms are disclosed to you before finalization. Fast, efficient, and ease of access to reliable funding has made us a popular online destination for thousands of folks to get the cash they need now.

The Bureau of Economic Analysis estimates that Maine’s total gross state product for 2010 was $52 billion. Maine is home to a very large percentage of working class and blue collar families and does a great job at keeping everyone employed. As of April 2016, Maine’s unemployment rate is 3.4%, which is some of the lowest in the United States. Reference Wikipedia

• Maine has over 32,000 miles of Rivers and Streams.
• Maine has over 6,000 Lakes and Ponds.
•  Maine Lobster yield annually is 40 million pounds, nearly 90 percent of the nation’s lobster supply.

Maine is one of the most naturally beautiful and sparsely populated states in America. It’s lush forests and verdant mountains add breathtaking beauty to the state’s sense of splendid isolation, seemingly referencing an age when America was yet an unconquered frontier.

Maine could be considered one of the last truly blue-collar states. At just $52 billion per year, its gross state product is relatively low. But the state’s approximately 1.3 million residents benefit from having perhaps more solid, working-class jobs than any other state in the union. Fishing, shipbuilding, agriculture and lumbering are just a few of the industries that have led Maine to consistently post among the lowest unemployment rates in the country. The state’s chief city, Portland, is a major port for the Northeast. The state also has a thriving tourist industry, which has been led by its breathtaking natural beauty and pristine forests, many of which remain virtually untouched since America’s birth.

Maine Cash Advances and Payday Loans Explained

Although Maine’s hardworking citizens have comparatively little trouble finding work, the blue-collar nature of the state’s jobs mean that many live paycheck to paycheck. For a lot of folks, Maine cash advance loans provide a means of making ends meet during lean times. Unfortunately, Maine payday loans have some of the most stringent rules of loans found in any state. Maine payday loans can only have an associated maximum charge of 30% percent APR (annual percentage rate). While this may sound good for the borrower, it makes it difficult for companies issuing small Maine personal loans to make a profit.

For Maine personal loans with smaller amounts, the maximum amount that can be charged is $5 for a loan up to $75, $15 for a loan between $75 and $250 and just $25 for loans above $250. Such low rates mean that borrowers are less likely to get into debt spirals from which they cannot escape. However, the low profitability of these loans means that there are few payday lenders in the state. Many of the state’s residents may simply not have access to brick-and-mortar payday lending, forcing them to search for loans online. This is where are state-of-the-art, nationwide lending platform can come in handy.

Maine Installment Loans and Personal Finance Solutions

For those residents with bad or poor credit, getting loans without a credit check may be a must. Those with poor or bad credit, therefore, are often forced to turn to payday loans or some form of unsecured short-term financing. However, for those with good credit, loans with a credit check may be the better option. Our lending platform caters to both situations.

The laws regarding Maine installment loans are complex. Generally speaking, however, they limit interest rates to 18% percent on loans above $4,000, with a maximum interest rate of 30% percent on loans less than $2,000. Those with solid credit can often benefit from the lower annual percentage rates and much wider availability of installment loans versus cash advances. Terms are usually fixed payments and repaid on through a standard time frame or number of monthly payments. Our nationwide network of banks caters to all situations and loans amounts range from $100 up to $5,000 or more. Decisions in minutes and direct deposits with in a day or two.

References:

“Maine Interest Rate Laws” Find Law – Maine Interest Rate Laws,
https://statelaws.findlaw.com/maine-law/maine-interest-rates-laws.html. Accessed on December 18, 2018

“Payday Lending State Statutes” National Conference of State Legislatures, 23 January 2018, http://www.ncsl.org/research/financial-services-and-commerce/payday-lending-state-statutes.aspx. Accessed on December 18, 2018

“Maine Consumer Credit Code” Maine Legislature – Maine Revised Statutes, 23 December 2018, http://legislature.maine.gov/statutes/9-A/title9-Ach0sec0.html. Accessed on December 18, 2018

Real Per Capita Income in Maine

Statute for Maine payday loans and cash advances. Personal loans and installment options qualify for larger amounts through our secure form. State laws and statutes can change at anytime and the information above or below may become slightly out-of-date as we update frequently.

(Source: U.S. Census Bureau, Census 2010 Population)

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