Alaska

Compare your loan options in Alaska

Here’s what you need to know about getting payday loans in Alaska.

It’s easy to misstep and end up in a sticky financial situation. Whether it’s a car repair, an emergency bill or just needing help getting to the next paycheck, a short-term loan, also known as a payday loan, may be a viable option.

Our guide on payday loans in Alaska should help you make the right decision for you.

OppLoans Installment Loans

OppLoans Installment Loans

OppLoans offers borrowers fast funding with lower interest than a typical payday loan.

  • Minimum Loan Amount: $1,000
  • Maximum Loan Amount: $4,000
  • Loan Term: 9 to 36 months
  • Turnaround Time: 1 business day
  • Must be 18+ years old (19+ in Alabama)

    Are payday loans legal in Alaska?

    Payday loans are legal in Alaska.

    Alaska statute 06.50.010 et seq. presides over the functioning of all payday lenders. Lenders that provide short-term loans must have a valid business license and are required to have individual licenses for every physical location or website they use to conduct business.

    Here are some quick facts about payday loans in Alaska:

    • Maximum loan amount: $500
    • Minimum loan term: 14 days
    • Maximum loan term: None
    • Maximum APR: 520% for a 14-day $100 loan
    • Rollovers: Borrowers are permitted 2 rollover/refinancing periods per loan.
    • Loan limit: There is no limit on the amount of loans you can have at once.

    Alaska law gives you the right to cancel a loan at any time before the close of the next business day.

    Consider these lenders for a payday loan in Alaska

    Check the websites of any providers you’re interested in to confirm they operate in your state.

    Rates last updated December 12th, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    LendUp Payday Loans
    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
    $250
    7–30 days
    generally receive the money the next business day
    Be 18+ years of age and have a checking account that can accept electronic transfers.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    $1,000
    Varies by state
    1–2 business days
    You must be at least 21 and an American citizen and have a bank account, email address and phone number.
    ACE Cash Express Payday Loans
    Quick short term, installment and title loans come with no prepayment penalty and a 72-hour satisfaction guarantee.
    Varies by state
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

    Compare up to 4 providers

    Important considerations before taking out a loan

    It’s impossible to predict a financial emergency. If you have bad credit, it can be hard to find quick money. Although payday loans are known for their high interest rates, they can be an easy way to make it between checks when a crisis hits. Keep in mind, though, that people often find themselves stuck in a spiral of debt. To avoid this, only borrow what you need and be sure to understand how much the total loan will cost by reading about the fees charged below.

    Alaska has some temporary assistance programs that can help you afford your bills while you work on paying down your debt. Look into the Alaska Temporary Assistance Program (ATAP), Heating Assistance Program (HAP), Food Stamp Program and the General Relief Assistance (GRA) program if you’re not sure where to start.

    Before you borrow, consider the alternatives to a payday loan

    What are the costs of a payday loan in Alaksa?

    • Origination fee: Lenders may charge a $5 origination fee. Lenders may also charge a fee of $15 per $100 or 15% of the advanced amount, whichever is smaller.
    • Finance rate: The maximum finance charge for a 14-day $100 loan is limited to $20.
    • Rollover fees. Lenders may charge a new origination and financing fees per rollover.
    • Non-sufficient funds fees: If you don’t have enough money in your account to make a payment, a lender may charge a $30 fee.
    • Collection fees: You may be required to pay court costs of up to $700, provided the lender discloses this in the loan agreement.

    How can I apply for a payday loan in Alaska?

    Although every lender has different criteria it considers when determining your eligibility, you should meet the following before applying:

    • You are at least 18 years old
    • You are a US citizen or a permanent resident
    • You have a regular source of income

    You’ll also need to provide some personal information, such as your Social Security number and your bank account details. This is why it’s important to compare your loans before and vet lenders before you apply.

    Bottom line

    If you’re considering taking out a payday loan, do your research. Our page on payday loans will teach you everything you need to know about the process.

    Have any more questions payday loans?

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    US Payday Loans Offers

    Learn about our information service
    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

    LendUp Payday Loans

    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Installment loans with competitive rates from a top-rated direct lender.