Waterville at a glance
- Population: a Census-estimated 16,823, placing it 11th among Maine's 23 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 16,682 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up roughly 0.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Maine places: 11th of 23 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 52% of the places in Maine (US Census Bureau).
- Coordinates: mapped at 44.5453, -69.6614 by the US Census Bureau Gazetteer.
- Nearest larger cities: Augusta, ME (15 mi); Lewiston, ME (40 mi); Auburn, ME (43 mi); Bangor, ME (47 mi); Westbrook, ME (67 mi); US Census Bureau population estimates.
- Smaller places close by: Hallowell, ME (19 mi); Gardiner, ME (25 mi); Belfast, ME (32 mi) (US Census Bureau).
What a personal loan costs in Waterville
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Maine lending rules that apply in Waterville
The sourced rows below are the rules a licensed lender must follow when lending in Maine, and therefore in Waterville.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Waterville
Here is a short checklist for comparing personal loans in Waterville:
- 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.