Best Low-Income Loan Lenders in Maine

Although not everybody can fulfill the income criteria lenders have established, it is apparent that customers in Maine are not hesitant to obtain one since the state has an average personal loan debt of $17,266. Low-income loans enable applicants with lower-than-average salaries to be eligible.

To determine where you can acquire the best low-income loan in Maine, MoneyGeek's study of lenders in the state takes into account over 30 different variables. We analyzed credit score requirements, APR ranges, time of loan disbursement and repayment periods.

Best Overall Low-Income Loan in Maine: Upgrade

  • Upgrade

    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds


    on Upgrade Website

Runner-Up for Best Low-Income Loan in Maine: LendingClub

  • LendingClub

    • 7.04% to 35.89%APR Range
    • 600Minimum Credit Score
    • $1,000 to $40,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


    on LendingClub Website

Best Low-Income Loan for Bad Credit in Maine: Upstart

  • Upstart

    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


    on Upstart Website

Best Low-Income Loan for Good Credit in Maine: Prosper

  • Prosper

    • 7.95% to 35.99%APR Range
    • 640Minimum Credit Score
    • $2,000 to $40,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds


How to Choose the Best Low-Income Loan in Maine for You

The average personal loan debt for residents of Maine is $17,266. Evaluate all of your options prior to completing an application for a low-income loan in Maine. This includes reviewing things like loan amounts, repayment conditions, interest rates and other fees.

MoneyGeek details a few things to consider before submitting an application for a low-income loan in Maine.


Ask Yourself the Important Questions

Before determining which companies' eligibility requirements you meet, you must first consider whether applying for a low-income loan is a sensible decision for you. Consider your answers to the following questions when selecting the best low-income loan in Maine:

  • How much do I need? Pick a lender who can offer you the funds you need. Also, by identifying how much you need in advance, you won’t borrow more than necessary, which could save you money.
  • What’s your credit score? Your credit score affects both your capacity to get loans and the interest rates you will pay.
  • Can I afford to pay the required amount monthly? Payment failures result in penalties and a bad credit score.
  • Are there any unpaid debts on your record? A high debt-to-income ratio should be avoided because lenders may consider it while evaluating your application.
  • Could you think of another strategy to pay off your debt? If you have alternative options for your funding needs, you might not require a low-income loan.

Do Your Research

Before completing an application for a low-income loan in Maine, be sure you are well-informed. Take the time to understand the terms for using the money since some lenders impose limitations on how you may utilize the loan.

MoneyGeek recommends the best lenders for low-income borrowers, but the ideal option for you may vary. You can compare interest rates from various lenders to decide which one gives the best deal.



It can be beneficial to pause before applying for a loan. Make sure you can comply with all of the loan's requirements before taking any action. After you've gathered all the essential data, think about your options. You might even find that a different funding solution can meet your financial needs.


Read the Fine Print

Reading the fine print before completing your request for a low-income loan is always a smart idea. Now is the moment to carefully review every detail of your contract. Don't assume you understand all of the terms of the loan. If something is unclear, don't be afraid to ask. Failing to read the terms and conditions of your loan could cost you more money in the long run.



Applying for a low-income loan can be completed either in person (if offered by the lender) or online after considering all the factors and asking pertinent questions. You will need to submit identification, address verification and proof of income during the application process. If you can apply in person, this can be beneficial since you can address any concerns with your application immediately. This could increase the odds of your application being accepted.

What to Do if You Can’t Get a Low-Income Loan in Maine

Lenders may reject your application for a low-income loan in Maine for various reasons. Your credit score, debt-to-income (DTI) ratio, loan amount and payback period could all play a role in the rejection.

It is best to determine the reason for the denial of your application. You may, for example, try to have the loan's terms changed because it might help your application be approved. In other cases, your credit score or DTI ratio could be the problem, and a quick repair isn't always possible. If you have the chance to work on these issues, it could be advantageous in the long run.

Some discouraged consumers might be tempted to take out payday loans, but MoneyGeek sternly warns against it. Rather than applying for expensive payday loans or borrowing from a different lender, it is preferable to take a long-term approach. Keep in mind that if you ignore the reasons your lender rejected your initial application, you will probably end up with the same result.

Calculate Your Monthly Payment

Not only must you ensure that your request for a low-income loan in Maine is approved, but you must also make sure that you can afford the monthly payments. MoneyGeek's personal loan calculator can help you quickly assess if you qualify.



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+ $8.33

Origination Fee Percentage


Origination Fee Fixed amount


Total monthly payment


FAQs About Low-Income Loans in Maine

It's a good idea to be aware of the numerous factors Maine lenders will consider when reviewing your loan application, but your financial needs will still be the primary basis for selecting a loan. MoneyGeek has provided answers to frequently asked questions about low-income loans in Maine to help you find the ideal lender for your funding needs.


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Affordability, lender transparency, accessibility, customer service, flexibility and consumer friendliness were used by MoneyGeek to evaluate more than 30 personal loan providers.

To determine the best personal loan lenders, MoneyGeek looked at particular data points within each category that we believe will be most important. Among these variables are credit score, application fee, minimum income requirements, APR ranges, maximum loan amount and disbursement time.

Customers are MoneyGeek's first priority. We take into account customer feedback for each lender as well as features like pre-approval options, simple payment methods and mobile apps that could make your interactions with them easier.

After thorough research by MoneyGeek, we provide personal loan recommendations to assist you in selecting a lender that best suits your needs.


The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.