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Compare your loan options in Alaska

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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
  • Easy online application
  • Quick approval
  • Fast funding
  • Long repayment terms

OppLoans Installment Loans

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

  • Minimum loan amount: $500
  • Maximum loan amount: $5,000
  • Turnaround time: 1 business day
  • Loan term: 9 to 36 months
  • Must have direct deposit and meet minimum income requirements.
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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 11th, 2018
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 Max. Loan Amount Turnaround Time Requirements
CashUSA Installment Loans
A connection service for quick cash loans up to $10,000.
As early as 1 business day
Must have a monthly income of $1,000+ after taxes and valid checking account.
Jora Installment Loans
Installment loans with repayment terms up to 30 months, depending on your state.
1–2 days
Must have an active checking account, regular source of income and email address.
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
1 business day
Must have direct deposit and meet minimum income requirements.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
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.
LendYou Short-term Loans
Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
1 business day
You must be a US citizen or permanent resident, age 18+ and have a regular income.
Check into Cash Payday Loan
With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
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 Short-term Loans
Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
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.

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What are the costs of a payday loan in Alaksa?

Here’s what you can expect to be charged on your loan:

  • Finance rate: The maximum finance charge for a 14-day $100 loan is limited to $20.
  • 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.
  • 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.

Should I get a payday loan in Alaska?

There are various reasons that residents of this state seek short-term loans, which include:

  • Easy to apply. You can apply for an Alaska cash advance from practically anywhere, provided you have access to an Internet-enabled computer. You can find short-term lenders that let you complete the identity verification process online, in which case you don’t have to fax any documents over. If you live near a short-term lender’s store, you could pick up your cash for an even faster turnaround.
  • Bad credit is alright. Payday lenders tend to pay attention to other factors than your credit score and put your monthly income first.

Put simply, if you’ve had trouble being approved for a traditional loan in the past because of bad credit or long eligibility criteria, a short-term loan could be for you. Before you apply, read on to learn about important considerations first.

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 alternatives to a payday loan

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.

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US Payday Loans Offers

Important Information*
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.

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