Bangor at a glance
- Population: 31,628 (US Census Bureau, Vintage 2023 subcounty estimate), the 3rd-largest of 23 places in Maine.
- 2020 Census base: 31,739 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population fell about 0.3% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Maine places: 3rd largest of 23 (US Census Bureau).
- Size percentile: it is larger than about 87% of the places in Maine (US Census Bureau).
- Coordinates: it sits at 44.8296, -68.7888 in the US Census Bureau Gazetteer.
- Nearest larger cities: Lewiston, ME (85 mi); Portland, ME (108 mi), each a US Census place with its estimated population.
- Nearest smaller places: Brewer, ME (4 mi); Old Town, ME (9 mi); Ellsworth, ME (23 mi) (US Census Bureau estimates).
What a personal loan costs in Bangor
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Maine lending rules that apply in Bangor
The Maine rate caps and licensing rules that reach Bangor are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Supervised lender license required when the finance charge exceeds 12 1/4% per year (or the loan is secured by real estate); applications via NMLS Source says: "Anyone who makes, takes assignment of, or services consumer loans in which the rate of the finance charge ... exceeds 12 1/4% per year" | Maine Bureau of Consumer Credit Protection as of 2026-09-16 |
| State lending regulator | Maine Bureau of Consumer Credit Protection (Department of Professional and Financial Regulation) Source says: "The Bureau of Consumer Credit Protection licenses and registers the following business entities" | Maine Bureau of Consumer Credit Protection as of 2026-09-16 |
| Minimum finance charge for supervised lenders | $5 (loans ≤$75), $15 ($75–<$250), $25 (≥$250) — 9-A M.R.S. § 2-401(7) Source says: "the lender may contract for and receive a minimum charge of not more than ... Twenty-five dollars when the amount financed is $250 or more" | Maine Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 30% per year on unpaid balances up to $2,000; 24% on $2,000–$4,000; 18% above $4,000 (9-A M.R.S. § 2-401(2)) Source says: "30% per year on that part of the unpaid balances of the amount financed that is $2,000 or less" | Maine Legislature as of 2026-09-16 |
| Payday lending status | Payday lenders are licensed as supervised lenders by the BCCP and subject to the 9-A § 2-401 finance-charge caps Source says: "Supervised Lenders Including Mortgage Lenders and Servicers, Non-Mortgage Supervised Lenders, Payday Lenders, and Insurance Premium Finance Companies" | Maine Bureau of Consumer Credit Protection as of 2026-09-16 |
How to compare offers in Bangor
Before you share your details with a lender in Bangor:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Maine using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.