Belfast at a glance
- Population: 7,069, the 18th-largest community in Maine out of 23 (US Census Bureau, Vintage 2023).
- 2020 Census base: 6,938 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: population rose about 1.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Maine places: 18th by size among 23 communities (US Census Bureau).
- Size percentile: roughly 22% of Maine's places have fewer residents (US Census Bureau).
- Coordinates: 44.4259, -69.0264 (US Census Bureau Gazetteer).
- Nearest larger cities: Brewer, ME (29 mi); Ellsworth, ME (29 mi); Bangor, ME (30 mi); Waterville, ME (32 mi); Augusta, ME (36 mi); US Census Bureau population estimates.
- Nearest smaller towns: Rockland, ME (21 mi); Hallowell, ME (40 mi); Gardiner, ME (41 mi) (US Census Bureau).
What a personal loan costs in Belfast
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Maine lending rules that apply in Belfast
Read the table as the compliance picture for a lender serving Belfast: label, sourced figure, publisher and 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 Belfast
Before you commit to a personal loan in Belfast, work through these steps:
- 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.