Best Payday Loan Lenders in Alaska

In Alaska, payday loans are legally available to all residents, but it’s critical to be fully informed before opting for these high-interest loans. The Last Frontier has stricter laws for payday loans than most states and has far fewer storefronts, making brick-and-mortar lending in the state an exceptional case. That’s why we moved to make a selection of the top payday loan firms offering services in Alaska and the applicable laws to assist you in choosing the right lending partner.

Best Payday Loans Providers in Alaska

Cash Central Logo

Cash Central

online lending made simple.

Looking for top online payday loans in the US? Cash Central could be an excellent place to start. This brand is state-licensed, which ensures the safety and credibility of its services. They operate solely as an online lender, meaning that in-store cash advances are unavailable.

Loan amount range: $100 to $200 (loan amount may increase based on personal qualifications)

Loan term: 14 to 30 days

APR: 486% on a 15-day loan

Min. credit score: N/A

Fees: $20 per $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Mississippi stores: Online only

Online application: Yes

24/7 open: No

Check City Logo

Check City

Quick Cash Loans at Check City

Over 30 years ago, back in 1986, Check City opened its first store in Virginia. The company was a huge success from the get-go, and they quickly expanded the business. Nowadays, you can find the Check City storefronts in four states or get an online loan.

Loan amount range: $100 to $510

Loan term: up to 32 days

APR: 460% for a two-week loan

Min. credit score: N/A

Finance charge: $17.65 for every $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Hawaii stores: Online only

Online application: Yes

24/7 open: No

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Speedy Cash Logo

Speedy Cash

Reset. Refocus. Restart.

Speedy Cash (or Rapid Cash in Nevada, Oregon, and Washington) is another reputable payday loans provider. They opened their first store in California back in 1997, and have been expanding ever since. Today, the company operates around 200 stores in 14 states. Speedy Cash is a member of the Online Lenders Alliance, ensuring fair treatment and adherence to a code of conduct.

Available in: AL, AK, CA, HI, LA, NV, ND, OR, TX, WA, WI, WY

Loan amount: $100-$500 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (214-460%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Money Mart Logo

Money Mart

From a little to a lot. We've got you covered.

Money Mart is an international company that does business in the US and Canada. Applying for and obtaining their services is extremely easy since they offer online and in-store loans. If you're in a tough financial situation and need quick access to cash, then come right in.

Loan amount range: $50 to $500

Loan term: 14 to 32 days

APR: 456% for a 14-day loan

Min. credit score: N/A

Finance charge: $17.50 for every $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Hawaii stores: 8

Online application: Yes

24/7 open: No

Laws for Payday Loans in Alaska

The history of payday loans in Alaska is relatively shorter than most other US states, and there are likely to be more changes in the laws in the near future. The first state law regulating the industry was passed in 2004. It has since gone through minor changes. The following section summarizes the key points of the primary law that all providers of short-term cash advances have to follow in Alaska.

State Law

The statutes regarding the payday loans Alaska residents can apply for are covered by Alaska Statute Code 06.50.010 et seq. The regulating body for such loans in the state is the Alaska Division of Banking and Securities.

Payday Loan Requirements in Alaska

The eligibility criteria for borrowers for Alaska payday loans vary by lender. However, if you meet the following criteria, you should be able to get a payday loan in the state in most cases:

You will need to provide a copy of a government-issued photo ID or your driver’s license. You would also have to share your email address, phone number, Social Security Number, proof of income, and a blank check or banking information.

Bad Credit Payday Loans in Alaska

Payday loans are designed mainly for people with poor or no credit who may face difficulty obtaining funds from other sources. Therefore, as long as you meet the eligibility criteria for Alaska given above, you should be able to get a payday loan in the state.

Failing to Repay a Payday Loan

The state law for payday loans doesn’t allow lenders to file criminal charges against borrowers. So, if you default on a payday loan in Alaska, you won’t get jail time, and lenders can’t threaten you with criminal action.

Defaulting on a loan or ignoring the lender, however, may result in escalated collection activity, including your account being sold to a collection agency. The default will also be reported to consumer reporting agencies, which will hurt your credit rating. You may also be subject to damages and additional charges up to $700 (excluding the total amount owed) as ordered by a civil court.

Reviews of the Best Alaska Payday Loans

Cash Central

Cash Central is a secure and state-licensed lender known for its simple application process and multiple repayment options. The firm has an A rating from the Better Business Bureau; however, its customer reviews could be better.

Pros

Cons

Lending Offer Overview

For payday loans, you need to fill out a three-step application; in most cases, you’ll know your approval status within a short time. Funding is also relatively fast, with the money reaching your account in one business day. The firm offers online payday loans in Alaska for 14 to 35 days.

Other advantages with Cash Central include its stress on maintaining the confidentiality of its process and the benefit of 24/7 application. Since emergencies occur without planning, the option to apply for a short-term loan at any time is handy. It’s also handy for Alaskans, given the geographical constraints specific to the state.

While the actual rates that apply to you will depend on your case, the indicated APRs and finance charges are standard for Alaska payday loans. Reviews of Cash Central suggest that the firm’s rates can be on the higher side. However, we believe many customers won’t mind a slightly higher rate if the firm assures features like security and confidentiality.

Finally, the repayment options include ACH or debit card payment, Western Union, MoneyGram, and money order or cashier’s check. You can also set different repayment periods, including monthly, semimonthly, and biweekly.

Other Features

Cash Central is a provider focused on payday loans in Alaska, so it does not have other offerings. That said, it does offer installment loans in some states, which can be taken out for more extended periods than payday loans. Even the general lending features for Cash Central are not standard across all states where it is present. Therefore, you should clearly understand the services it offers in your region before applying for a loan.

Check City

Check City’s primary offering is also limited to online payday loans for Alaska. Its solid ratings and excellent customer review scores, including a Trustpilot score of 4.5, should raise potential customers’ confidence in the quality of service they will get. These factors are crucial considering the overall negative perceptions associated with the payday loan industry.

Pros

Cons

Lending Offer Overview

The greatest highlight of Check City’s process is its one-step application, also available in Alaska, where the firm is licensed but does not have a storefront. Compared to most other firms that provide payday loans online in Alaska, Check City offers a simpler process with much less paperwork.

The approval is also quick, often taking just a few minutes. For borrowers in Alaska, the money would take at least one day to get deposited in their accounts. In states where the firm has physical stores, the financing is same-day.

On the negative side, the firm is known for higher APRs and fees for services like origination and verification. While the indicated APRs in the schedule is standard for Alaska payday loans, the actual rates that apply to you can vary. You could also incur additional fees if you miss a payment or your account has insufficient funds.

We like that the firm shares a lot of information upfront. For instance, you can check out its license for Alaska and the indicative fee schedule on its website. In addition, there’s substantial info on the entire payday loan process, including a handy FAQ section. The terms and conditions for payday loans in Alaska and elsewhere are also clearly provided on the site.

Other Features

Check City is a reliable provider of a bunch of other services. These include cash advances, installment and title loans, money orders and transfers, prepaid cards, and cash for gold.

Check Into Cash

Check Into Cash is another pedigreed provider of payday loans, with an A+ rating and accreditation from the BBB and an excellent TrustPilot score of 4.5 out of five. The lending options, however, are limited to online only.

Pros

Cons

Lending Offer Overview

The best aspect of the firm’s process is its quick approval, which makes them a top choice for consumers looking for payday loans in Alaska for bad credit with instant approval. Once you apply online using its simple interface, you will know whether you have qualified for a loan or not within a minute or so. This is, of course, conditional approval, and you will get a call soon from a rep to verify your credentials. On the whole, the process is streamlined enough to keep you from waiting for long.

Once completely approved, the financing takes about one business day, even for online applications. The other features of the loan process are pretty standard for Alaska online payday loans; however, eligibility criteria for borrowers are tougher than usual, including a higher age limit of 21. You also need an active checking account to obtain a loan from the firm.

Coming to the APRs, the rates indicated on the website are typical for Alaska, but the firm has a reputation for higher-than-average rates and service fees. The actual expense for you will depend on your particular case.

Like most top-quality payday loans firms, Check Into Cash also stresses the transparency and confidentiality of its process. The company’s mobile app is convenient for payment reminders, customer support, and product information. At the same time, it helps with keeping all your data secure and encrypted.

Other Features

Apart from Alaska payday loans and installment loans, customers can also make use of various non-loan products. These include money transfers, prepaid debit cards, and check cashing. The firm also accepts new or used gift cards from over 500 major retailers in return for cash.

Speedy Cash

Speedy Cash is another firm with an A+ BBB rating and a solid Trustpilot score of 4.6. Unfortunately, the firm’s customer reviews on the BBB are much worse. On the upside, Speedy Cash is a member of the Online Lenders Alliance.

Pros

Cons

Lending Offer Overview

Speedy Cash is one of the very few Alaska payday loans providers that offer an instant funding facility to borrowers. If your debit card qualifies for this facility, you could get money in your account in a matter of minutes. To be eligible for instant funding, you will have to share your debit card details during the application and answer a few additional questions to establish your identity. For other borrowers, the direct deposit option is not much worse, taking one business day in most cases, including the time for approval.

The Speedy Cash application process is purely online for payday loans in Alaska as the firm currently does not have any stores in the state. The indicated APRs and other charges are standard, but like most top firms in the business, it may charge higher interest rates depending on the amount, term, and other factors.

Some other advantages with the firm include the option to return the funds without any fee within 72 hours, no early payment fees, and automatic credit limit increases for qualifying customers.

Another noteworthy feature of Speedy Cash is its smooth online process, better than most providers of payday loans in Alaska. This convenient process design is also reflected in the highly-rated mobile app, which simplifies keeping a tab on due payments and communicating with the firm.

Other Features

Speedy Cash offers several other services, including installment loans, title loans, and personal lines of credit. Services such as money orders, wire transfers, check cashing, and prepaid debit cards could also be an option depending on your location.

Money Mart

Money Mart is the only firm among the top payday loan providers with physical storefronts in Alaska. Unfortunately, it does not currently offer online payday loans for Alaska, limiting those to California, Hawaii, Louisiana, and Florida. However, the firm intends to open online applications for other states’ residents soon.

Pros

Cons

Lending Offer Overview

The highlight of Money Mart’s offering is its superfast approval and funding process for payday loans, which the company refers to as Cash Advance. During weekdays, it is common to have the money come into your account within one business day once you are approved.

Another positive related to the firm’s lending service is the easy-to-use sliding calculator on its website. Just choose Alaska in the payday loans dropdown menu and get an estimate of the APR and finance charge for the amount you intend to borrow. The various site features are geared toward helping customers understand the firm’s process and how short-term loans function. This ease of use is also reflected in the convenient mobile app for Android and iOS platforms.

The actual loan amount and charges are, of course, based on the Alaska state guidelines. So, customers can borrow amounts between $100 and $500 for a maximum of about a month. The APRs are on par with what you’ll get with most Alaska payday loans online or in-store.

Other Features

Money Mart offers several other services, including prepaid credit cards that do not require a credit check or application process. Other useful services include cashing all kinds of checks both in-store and on the mobile app, sending and receiving money at home and abroad through Western Union, and sending money orders through the mail.

FAQ

Are internet payday loans legal in Alaska?

Yes, internet payday loans are legal in Alaska. In fact, given the limited number of lender storefronts in the state, online payday loans in Alaska are very popular.

How much do payday loans charge in interest in Alaska?

The standard APR can vary between 417.14% for $500 and 521.42% for $100 for a term of 14 days. The actual rate you pay will vary depending on the loan amount, term, and your specific case.

The Bottom Line

Notwithstanding the strict laws in Alaska, consumers must research and understand what they are getting into with payday loans. We have tried to do our part by sharing details of the best firms offering Alaska payday loans. These are all state-licensed and reputed firms, so any of these could prove an excellent option for you. But, eventually, the name that suits you the best will depend on your specific needs and expectations.

Remember to always borrow responsibly and never take out more cash than you can reasonably repay.

Your BalancingEverything Team

References:

MoneyLion

UStatesLoans.org

Consumer Federation of America

Cash Central

Check City

Check Into Cash

Speedy Cash

Money Mart