Editor's choice: OppLoans Installment Loans

- Easy online application
- Quick approval
- Long repayment terms
Payday loans can be expensive, but that doesn’t mean they aren’t a necessity if you’re facing a big financial setback. You’ll want to know the laws payday lenders have to follow and how much you can borrow before you settle on a lender.
Yes, payday loans are permitted in Juneau under Alaska statute 06.50.010 et seq., which requires all lenders to have a license for every physical location and website where loans are advanced.
You can borrow up to $500, and you’ll have a minimum of 14 days to repay your loan. However, longer terms may be available depending on your lender and pay period. Lenders may charge both a $5 origination fee and a financing fee of $15 per $100 or 15% of the amount advanced, whichever is less.
If you’re unable to repay your loan, lenders are required to offer you a payment plan. It can last up to six month, and you must pay at least 5% of your outstanding balance when you agree to the payment plan.
If you don’t live or work near a payday store in Juneau, you can submit an online application. To begin, simply click on the Go to Site button next to any of the lenders in the comparison table above. You’ll need to submit some basic personal information, including:
Whether you apply online or in-store, you’ll need to be at least 18 years old, have a regular source of income and be a US citizen or permanent resident.
Although Alaska regulates how much a lender can charge, a $500 loan will still cost you $580. And if you’re stuck with the minimum loan term, you’ll only have 14 days to repay what you borrow. This can be difficult for many people, so it pays to consider your other options before taking out a loan.
If your lender doesn’t agree to a longer loan term, look into an installment loan instead. These are still an expensive form of credit, but you may have multiple months to repay your loan.
Although there aren’t many payday loan stores in Juneau itself, you still have options if you’re okay with borrowing online. The industry is regulated by Alaska state law, so before you agree to a loan, be sure your lender is obeying the regulations.
And of course, you may want to read up on payday loans so you can stay informed when you borrow.
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