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Best Online Short-term Loans in Scarborough

Need quick cash? You're not alone, and we've got your back! When unexpected expenses hit, waiting for payday isn't always an option. That's where our Best Cash Advance Short-term Loans step in, providing a fast financial lifeline that gets you through tight spots. Feeling stressed about those urgent bills? Worry no more! Our streamlined process ensures you receive the help you need without the hassle. Dive into a flexible and hassle-free solution designed for your peace of mind. Let us bridge the gap between need and payday with our trusted short-term loans.

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Best Online Short-term Loans in Scarborough

Gooch David
Loan agency

Address: 636 US-1, Scarborough, ME 04074

Phone Number: +1 (207) 885-9500

Maine Financial Group
Loan agency

Address: 144 US-1, Scarborough, ME 04074

Today's Business Hours: 8:00 AM - 4:00 PM

Phone Number: +1 (207) 885-5900

Website: mainefinancialgroup.com

Services:

Business loans Installment loans Signature loans Consolidate Loans Existing Loans Financial Solutions Flexible Programs Heavy Equipment Financing Home Financing Loan Refinance Working Capital

Alternatives to Short-term Loans in Scarborough

Short-term loans come in various forms, primarily including personal, installment, and title loans. Personal loans are unsecured and typically used for unforeseen expenses, offering flexibility in terms of use and repayment, but they often come with higher interest rates due to the lack of collateral. Installment loans require regular, scheduled payments and are generally tied to a fixed interest rate, making them predictable and easier to budget for over a specified term. Title loans, on the other hand, are secured loans where the borrower uses their vehicle’s title as collateral, providing quick access to funds but posing the risk of losing the vehicle if the loan is not repaid on time. Each of these short-term loan types comes with its own set of benefits and drawbacks, tailored to the borrower's specific financial needs and situations.

Best Personal Loan

Northpoint Mortgage, Inc.
5.00
16 reviews

Short-term loans are financial products designed to be repaid within a brief time frame, typically ranging from a few weeks to a couple of months. For personal loans, the best option often includes lenders that offer competitive interest rates, flexible repayment terms, and a straightforward application process. These loans are usually unsecured, meaning they don't require collateral, and they cater to individuals with a good credit score who need quick access to funds for emergencies or small expenses.

Loan Regulations in Maine

In Maine, short-term loan regulations are designed to protect consumers while providing access to short-term credit. The state permits payday lending, but with specific restrictions to control the costs associated with these loans. Interest rates for short-term loans in Maine are capped, with a maximum annual percentage rate (APR) that varies depending on the loan amount. For loans up to $2000, the rate cap is 30% APR.

To be eligible for a short-term loan in Maine, borrowers typically need to meet standard requirements such as having a steady source of income, being at least 18 years old, and having an active bank account. The terms of these loans, including the repayment period, are regulated to ensure they are reasonable and protect borrowers from potential debt traps.

Short-Term Loan Calculator

day(s)
%
$

Estimated Payment

$327.12
Total Principal Paid: $300.00

Financial Charge: $27.12

Loan Term: 150 day(s)

APR: 22.00%

Where to Use Short-term Loan

Once a short-term loan has been secured, it can be utilized for various urgent expenses through local service providers. This includes covering costs for medical services such as hospital bills or medical procedures, car repair shops for essential vehicle maintenance, legal services for unexpected legal fees, funeral services for burial or memorial expenses, and appliance services for necessary repair or replacement of household items. These providers cater to immediate needs, making them viable options for the practical application of short-term loan funds in times of need.

Adventure Sports Facility
364 Payne Road, Scarborough, ME 04074
+1 (207) 944-5991
American Restaurant
264 US Route 1, Scarborough, ME 04074
+1 (207) 289-1100
Beach Club
499 Black Point Road, Scarborough, ME 04074
+1 (207) 883-9412
Car Wash
Oak Hill Terrace, Scarborough, ME 04074
+1 (207) 883-1423
College/University
Forecaster Way, Scarborough, ME 04074
+1 (207) 767-7374
Construction Material & Equipment
374 US Route 1, Scarborough, ME 04074
+1 (207) 956-5381
Dentist
243 US Route 1, Scarborough, ME 04074
+1 (207) 883-8911
Doctor
6 Science Park Road, Scarborough, ME 04074
+1 (207) 883-8100
Fitness Club & Center
152 US Route 1, Scarborough, ME 04074
+1 (207) 219-8026
Government Office
200 Expedition Drive, Scarborough, ME 04074
+1 (207) 883-3912
Hospital
100 Campus Drive, Scarborough, ME 04074
+1 (207) 396-7600
Hotel
329 US Route 1, Scarborough, ME 04074
+1 (207) 883-2700
Library
48 Gorham Road, Scarborough, ME 04074
+1 (207) 883-4723
Local Post Office
31 Gorham Road, Scarborough, ME 04074
+1 (800) 275-8777
Museum
647 US Route 1, Scarborough, ME 04074
+1 (207) 885-9997

FAQ

What are short-term loans?

Short-term loans are financial products designed to provide quick funds with the expectation of repayment over a brief period, generally ranging from a few weeks to a few months. They are often used to cover unexpected expenses or immediate cash flow gaps.

Can I get a short-term loan with bad credit?

Yes, many lenders offer short-term loans to individuals with bad credit. These loans typically have higher interest rates to offset the increased risk, but they can be an accessible option for those who need urgent funds and have a less-than-perfect credit history.

Are same-day loans available?

Yes, some lenders offer same-day loan options. These loans are designed to provide rapid access to funds, often within hours of approval. However, eligibility criteria may be strict, and fees and interest rates may be higher compared to longer-term loans.

What’s the difference between a short-term loan and other short-term loans?

Short-term loans are a type of short-term loan specifically intended to cover expenses until your next paycheck. They usually feature small loan amounts and high interest rates. Other short-term loans might offer slightly longer repayment terms or different fee structures.

How much can I borrow with a short-term loan?

The borrowing limit for short-term loans can vary depending on the lender and the borrower’s creditworthiness. Generally, short-term loans range from $100 to $5,000, but for short-term loans, the limit might be smaller.

What are the risks of taking a short-term loan?

Short-term loans often come with high interest rates and fees, making them costly over time if not managed carefully. Additionally, failing to repay these loans on time can lead to additional fees, potential harm to credit scores, and debt cycles.

How can I apply for a short-term loan?

Applying for a short-term loan typically involves completing an online application form, which requires personal, financial, and employment information. Once submitted, lenders review the application and, if approved, funds are usually deposited directly into the borrower’s bank account.

Find Short-term Loans Near Me

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Scarborough ZIP Codes

04070
04074
04106