Old Town at a glance
- Population: 7,431, the 17th-largest community in Maine out of 23 (US Census Bureau, Vintage 2023).
- 2020 Census base: 7,435 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down roughly 0.1% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Maine places: the 17th-largest of 23 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 26% of Maine's Census places by population (US Census Bureau).
- Coordinates: 44.9542 latitude, -68.7397 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Bangor, ME (9 mi); Brewer, ME (12 mi); Ellsworth, ME (29 mi); Waterville, ME (53 mi); Augusta, ME (65 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Belfast, ME (39 mi); Rockland, ME (61 mi); Hallowell, ME (70 mi), each a US Census place.
What a personal loan costs in Old Town
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Maine lending rules that apply in Old Town
Each row below is a Maine rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Old Town
The order below is a sensible way to approach a loan in Old Town:
- 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.