Economy and Personal Loans in Maine
Residents of Maine have several options to consider when in need of personal financing. Short term loans, whose interest rates are very high, bank loans which take a long time to be issued and personal loans, a flexible and balanced loan that shares advantages of online loans and regular bank loans. The quick online application process is the common advantage of personal loans and online short term loans and the high amounts that can be borrowed through a single personal loan is the advantage shared with regular loans. Personal loans in Maine provide access to funds up to $25,000 that can be repaid in installments of up to 36 months, depending on the lender you are matched with. Personal loans, are affordable and reliable and you can apply for one anytime, from your computer or mobile device.
Maine - Rates & Terms
$1,000 - $25,000
Interest Rate / APR:
Variable (more details
12 months - 36 months
If you meet the requirements and qualify for one of our personal loans we will provide you with a financial solution tailored to your needs, based on your financial eligibility. Once approved for a loan you will be provided the full details of the offer including: interest rate, repayment term, payment amount and the total cost of the loan.
Credit Scores in Maine:
The average credit score of Maine in 2011 was 702 according to a study performed by Experian, one of the most important credit bureaus in the USA. At that time the national average credit score was 687. As such, Maine ranked on the number 12 spot out of all the 50 states. The above average credit score of Maine was consistent with the study which snowed that northern states tend to have a much higher average credit score than the southern ones.
More about Installment Loans in Maine
Maine is the northernmost and easternmost state in the country; it is also the 39th largest state and 41st most populous out of all 50 states. The area that is now known as Maine has been inhabited for thousands of years by the indigenous native americans, until the time of the European encounter. The first settlements in this area were built by the French in 1604 on Saint Croix Island while the first english settlement was built in 1607 by the Plymouth Company.
The economy of Maine is very diversified. The main agricultural products of the state include: poultry, eggs, cattle, apples, blueberries, maple syrup and maple sugar. Commercial fishing although although not as important as in the past still maintains a strong presence, especially in the form of lobstering and groundfishing. The main products of Maine’s industry are: paper, lumber and wood products, food, textiles, leather products and bio-technology. Maine is also the country’s #1 exporter of lowbush blueberries. Apart from these sectors, tourism plays a large role in Maine’s economy. Maine is famous for sport fishing and hunting, snowmobiling, skiing, boating, camping and hiking due to its amazing landscapes.
Maine offers many job opportunities, from agriculture to large industrialized companies. This diversity also means that there will be those that make good money but also those that may sometimes struggle financially. For the latter there are many options to get funds in a short amount of time. Personal loans in Maine can help borrowers in need of quick financing apply online and borrow up to $25,000. 
State of Maine Economic Indicators:
- Income per capita: $37,300 (in 2010) 
- Average weekly wage: $754 (third quarter of 2014) 
- Average household income: $46,033 (2014) 
- State expenditures ($ in millions): 8,089 
- Unemployment rate: 4.8% (March 2015)