Online Payday Loans in Maine – Find Alternatives to High-Cost Lending


Have you ever run out of money before you run out of month? It may be hard to believe, but 1 out of every 10 of your friends will have similar experiences. Before you Google your heart out, let’s dive into payday loans and options on how you can avoid them and still get extra cash.

Options For Payday Loans in Maine

In the state of Maine, payday loans are also known as small loans. These types of loan cash advances are high in interest and usually due within 14 days. You’re required to give electronic authorization for repayment on your next scheduled payday. Maine does have specific rules and regulations to abide by within the state lines. Below we’ve laid out requirements for the application process.


  • 18 years old
  • US citizen or a permanent resident
  • Your full name, date of birth, social security number and a valid form of ID
  • Current address 
  • Valid email and phone number
  • Verification of current employment and regular monthly income
  • Active bank checking account information 

Credit Check

While some payday loan lenders might run what’s called a “soft check” credit pull, most will not check at all. They rely on your income and employment information given during the application process. This may sound appealing, but these loans do come with risk. Because they are an unsecured loan, you’re prone to higher interest rates and fees. If you fail to make timely payments, your account gets reported to the credit bureaus with negative marks. 


In Maine, you’re allowed to have one payday loan at a time. You have to pay it in full before you apply for another loan. Most lenders in Maine request a 14-day loan term, but some allow up to 35 days. 

Max Loan Amount

In the state of Maine, the maximum allowable payday loan is $1000 with a 30% interest rate cap. They are one of the most strict states when it comes to payday loans. The interest rate may seem low compared to other states, and there are only a few lenders in the state.


Like any loan or borrowed money, you must repay on time if you want to avoid penalties. Some lenders will charge you a $10 or 5% fee (whichever amount is less) for each missed payment. Repaying these predatory loans becomes difficult with the added late fees and high-interest.

Payday Loan Alternatives in Maine

It is easy to feel helpless in a time of need, but have no fear, payday loan alternatives are here.  Here are a couple of options to consider as you are putting together your next lending strategy.  


Instacash from MoneyLion allows you to borrow money instantly from your mobile app. You can borrow up to $250 at time with 0% interest. We won’t run your credit or slap you with fees. Missed a payment? We know it happens and we aren’t going to penalize you for it. We won’t report the late or missed payments to the credit bureaus.

Credit Builder Loans

Access to our Credit Builder Loans up to $1000, interest-free Instacash advances, AND additional premium financial tools comes with a Credit Builder Plus account membership for only $19.99/ month. This is perfect for those of you with bad or no credit. You can get up to $1000 loan with low APR interest. We will help you automate your installment payments and keep you on track. As you make on-time payments, we will report to the 3 major credit bureaus to increase your credit score. We’ll refresh your score in the MoneyLion app every week so you can see your progress too!

At MoneyLion, we make borrowing and saving easy!

InstacashCredit Builder LoanLocal Payday Lender
How Much Can You Borrow?Up to $250Up to $1,000$1000 Max 
Fees & Interest0% APRCompetitive APR, $19.99/month feeRate cap of 30% Borrowing Fees:Less than $75-$5 feeBetween $75 and $250- $15 feeGreater than $250- $25 fee
Impacts Your Credit?NoYes, it builds your credit score. Yes, if you don’t pay your loan.  Your credit score is negatively impacted. 
AvailabilityOnline & MobileOnline & MobileIn-store & Online 
Wait TimeInstantly*InstantlyNext business day 
Next StepsSign UpSign Up
*24-48 hours to receive your advance at 0 cost. $3.99 for instant deposit to your MoneyLion bank account,$4.99 to instantly deposit to an alternative bank account.

Bye, Bye Payday Loans!

When payday loans look like the quick fix to your financial woes, its easy to get blinded by the light. When the shine wears off, you’ll realize you owe hundreds more than you originally borrowed. Our transparent memberships at MoneyLion allow you to borrow when you need it and get money in your account instantly.

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Get cash fast, pay no interest

Enjoy Instacash advances up to $250. No credit check, no monthly fee, no interest. Just cash.

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