Payday Loans in Ketchikan, AK: Rates, Rules & Calculator

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Payday lending Permitted Alaska Legislature — Alaska Statutes §§ 06.50.410, 06.50.460

Rate cap 10.5% per annum default Alaska Legislature — Alaska Statutes § 45.45.010

Licensing License required from the department to make… Alaska Legislature — Alaska Statutes §§ 06.20.010, 06.20.040

Regulator Alaska Department of Commerce, Community… Alaska Legislature — Alaska Statutes § 06.50.900(5)

By the Paydayloaning Editorial Team · Last updated 2026-09-16

Payday lending in Alaska

Permitted

Full Alaska lending rules

The local picture

Payday loan rules that apply in Ketchikan

Every figure below is published by the state or the regulator that sets it, with a link to the primary source. These rules apply to any lender serving Ketchikan — Alaska's fee cap is not adjusted city by city.

Rule	Detail	Source
Maximum legal interest rate (usury cap)	10.5% per annum default; by contract, the greater of 10% or 5 percentage points above the 12th Federal Reserve District advance rate (loans over $25,000 exempt) Source quote Source says: "The rate of interest in the state is 10.5 percent a year and no more on money after it is due"; "more than the greater of 10 percent or five percentage points above the annual rate charged member banks for advances by the 12th Federal Reserve District".	Alaska Legislature — Alaska Statutes § 45.45.010 as of 2026-09-16
Payday lending status	Permitted — licensed deferred deposit advances; max $500 outstanding per borrower; origination fee ≤$5; fee ≤$15 per $100 or 15%; minimum 14-day term Source quote Source says: "may not make advances to an advance recipient that exceed $500 outstanding in advances to the recipient at one time"; "a fee that does not exceed $15 for each $100 of an advance, or 15 percent of the total amount of the advance".	Alaska Legislature — Alaska Statutes §§ 06.50.410, 06.50.460 as of 2026-09-16
Small-loan / installment lender licensing	License required from the department to make loans of $25,000 or less at above-legal rates; $25,000 liquid assets and $25,000 bond required Source quote Source says: "without first obtaining a license from the department"; "liquid assets of at least $25,000".	Alaska Legislature — Alaska Statutes §§ 06.20.010, 06.20.040 as of 2026-09-16
State lending regulator	Alaska Department of Commerce, Community, and Economic Development (Division of Banking and Securities) Source quote Source says: "department means the Department of Commerce, Community, and Economic Development". The Division of Banking and Securities (commerce.alaska.gov/web/dbs) administers the department's lending license programs.	Alaska Legislature — Alaska Statutes § 06.50.900(5) as of 2026-09-16

What a payday loan costs in Ketchikan

The number that matters is not the fee on the day you borrow — it is the total you repay if the loan is renewed. A rollover adds a fresh fee without reducing what you borrowed, which is how a two-week advance turns into months of payments. Some states cap the number of renewals; whether Alaska does is in the sourced table above. If you cannot clear the balance on the due date, ask the lender for a written repayment plan before you renew. How rollovers compound.

Cheaper alternatives in Ketchikan

If you are a credit-union member, ask about a payday alternative loan (PAL). Federal credit unions can offer small loans at a capped APR with a longer repayment window than a payday advance, and the application usually costs less. If you are not a member, joining a local credit union is often quick and is one of the cheapest ways to borrow a few hundred dollars. How PALs work.

About Ketchikan

Population: 8,079 (US Census Bureau, Vintage 2023 subcounty estimate).
Size in Alaska: the 6th-largest of 149 Census places in the state.
Population trend: Its population fell about 1.4% between the 2020 Census base and the 2023 estimate.

Before you borrow in Ketchikan

Confirm payday lending is permitted in Alaska and check the maximum fee in the table above.
Compare the APR, not the dollar fee — that is the only way to compare a two-week loan with a two-year one.
Run the numbers with our loan payment calculator to price the same amount as an installment loan.
Verify the lender is licensed in Alaska with the regulator listed above.
Never give a lender remote access to your bank account beyond the amount you actually owe, and ask for any repayment plan in writing.

Frequently asked questions

Can I get a payday loan in Ketchikan?

Only if payday lending is permitted in Alaska. Payday lending is regulated state by state, so whether a licensed lender may offer one in Ketchikan depends on Alaska law rather than on any local ordinance. See the sourced figure on our Alaska lending reference page.

How much can I borrow with a payday loan in Ketchikan?

State law sets the maximum advance, and many states cap payday loans at a few hundred dollars. The sourced limit for Alaska is listed with its publisher on our state reference page, so you can see the current figure rather than an estimate.

How much does a payday loan cost in Ketchikan?

Lenders charge a fee per $100 borrowed rather than a monthly interest rate, and Alaska law sets the maximum fee. Because the term is only a couple of weeks, that fee produces a very high APR. Our state reference page lists the sourced fee cap, and our APR calculator shows the math.

Will a payday loan in Ketchikan hurt my credit?

Many payday lenders do not report on-time payments to the major credit bureaus, so a payday loan usually will not build your credit. An unpaid balance that is sent to collections can still be reported and damage your score, which is why the repayment plan matters more than the application.

Nearby places

All Alaska cities

Nearest Census places by distance.

Payday loans in Ketchikan, AK