Bonney Lake at a glance
- Population: a Census-estimated 22,835, placing it 49th among Washington's 281 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 22,466 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population rose about 1.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Washington places: 49th of 281 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 83% of Washington places in population terms (US Census Bureau).
- Coordinates: latitude 47.1995, longitude -122.1630 (US Census Bureau Gazetteer).
- Nearest larger cities: Puyallup, WA (6 mi); Auburn, WA (8 mi); Federal Way, WA (11 mi); Maple Valley, WA (13 mi); Kent, WA (13 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Sumner, WA (4 mi); South Prairie, WA (5 mi); Pacific, WA (6 mi) — US Census Bureau populations.
What a personal loan costs in Bonney Lake
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Washington lending rules that apply in Bonney Lake
Each row below is a Washington rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 12% per annum, or four points above the Federal Reserve bill rate, whichever is higher (RCW 19.52.020) Source says: any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) Twelve percent per annum | Washington State Legislature (RCW) as of 2026-09-16 |
| Payday lending status | Licensed; small loans capped at $700 or 30% of monthly income, max 45 days, fees 15% on first $500 and 10% above (RCW 31.45) Source says: Payday lenders must be licensed by DFI — including online lenders that do business with Washington residents. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Loan Company license required (Consumer Loan Act, RCW 31.04.035) Source says: No person may engage in any activity subject to this chapter without first obtaining and maintaining a license in accordance with this chapter. | Washington State Legislature (RCW) as of 2026-09-16 |
| State lending regulator | Washington State Department of Financial Institutions (DFI) Source says: DFI licenses and regulates financial institutions and service providers in Washington. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
How to compare offers in Bonney Lake
Before you share your details with a lender in Bonney Lake:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Washington using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.