Find Payday Loans in Maine
At the moment Maine does not have specific laws governing the payday loan industry, however, the cash advance loan industry is currently under hearing some heavy debate, with lenders fighting to change interest rate caps placed on payday loans. Specifically, payday loan companies would like to push the interest rate up to $17.50 per $100 loaned, as opposed to the current cap set at $15 per $250 loaned. Cash advance machines that dispense loans are available in Maine and are governed by The Maine Consumer Credit Code. These loan machines are required to meet specific requirements, including disclosing all rates and fees and issuing a receipt to borrowers during the payday loan transaction.