Alaska Pay Day Loans
Every state has different laws regarding how much you can borrow, when it must be repaid and how many times you’re allowed to “roll-over” the loan so you have extra time to pay it off. In Alaska, the maximum amount you can borrow is $500.00 and the minimum amount of time required to pay it off is 14 days. The maximum interest rate for the state of Alaska is $15.00 for every $100.00 of the loan amount or 15% of the entire loan amount.
Alaska is such a huge state it may be difficult to find a payday loan office near you so you may be required to think outside the box and find alternatives such as online based companies.
Alaska Pay Day Loan Laws
Maximum Loan Amount: $500.00
Maximum Interest Rate: $15.00 on every $100 borrowed or 15% of the total loan amount; whatever is lowest.
Annual Percentage Rate: 520%
Minimum Payoff Time: 14 Days
Extensions Allowed: 2 “rollovers” where you use a new loan to pay off the existing one.
Top 5 Alaska Payday Loan Companies
6311 Debarr Rd # T
Anchorage, AK
(907) 644-0552
Money Mart is a sister store to Loan Mart and has over 325 physical offices located around the United States. This company offers a lot of personal finance services such as check cashing, electronic bill paying, Western Union and payday loans. In Alaska, Money Mart has three locations in Anchorage that you can use to meet your financial needs.
East Northern Lights Boulevard
Anchorage, AK
(907) 337-2274
MoneyWorks, Inc is a full-service payday loan company that caters to those in the Anchorage and surrounding areas. This company offers you check cashing services as well as as your basic payday loans. Payday loans can be used to help you bridge the gap between paydays and take care of any kind of emergency financial situation that may arise. This company doesn’t currently have a functional website so you’ll need to call them or visit their office to find out more.
250 3rd St #4
Fairbanks, AK
(907) 479-6300
Colortyme is best known as a “rent to own” store that deals in furniture, electronics and appliances but they also have a very large section devoted to short-term loans. There are two Colortyme stores in Anchorage that you can visit and use to apply for a payday loan. This company charges $15 on every $100 and functions as a check holder. You’ll post-date a check for a specific date and they’ll give you cash today. When that date comes, your check will be cashed so you need to make sure you have the full amount plus interest in your checking account.
695 E Parks Hwy
Wasilla, AK
(907) 357-2901
Rent-A-Center has three branches in Anchorage and one branch in Wasilla making it a fairly recognizable and easy to find store. This company specializes in rent to own items that you’re able to take home right away and make small weekly or monthly payments on. Rent-A-Center also offers customers short-term payday loans if they have been steadily employed, have valid ID and have a checking account that’s been in good standing for at least three months.
229 W Fireweed Lane
Anchorage, AK
(907) 272-3511
Cash America Pawn has seven different stores in Anchorage, Alaska and while it’s mostly associated with being a pawn shop, it offers a lot more. You can use Cash America Pawn to get various types of short-term loan such as traditional payday loans and car title loans. The payday loans will offer you up to $500 at a time and will need to be repaid within 30 days usually. Car title loans offer a bit more cash and longer repayment terms but require you to put up your car title as collateral.