Kenai at a glance
- Population: the Census estimates 7,746 residents, ranking 7th of 149 places in Alaska (Vintage 2023).
- 2020 Census base: 7,421 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up about 4.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Alaska places: 7th in population of 149 places (US Census Bureau).
- Size percentile: ahead of around 95% of Alaska places in population terms (US Census Bureau).
- Coordinates: 60.5622, -151.2081 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Anchorage, AK (77 mi); Wasilla, AK (91 mi) (US Census Bureau populations).
- Smaller places close by: Soldotna, AK (7 mi); Kachemak, AK (62 mi); Homer, AK (64 mi) (US Census Bureau).
What a personal loan costs in Kenai
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Alaska lending rules that apply in Kenai
Read the table as the compliance picture for a lender serving Kenai: label, sourced figure, publisher and date.
| 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 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 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 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 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 |
How to compare offers in Kenai
Before you commit to a personal loan in Kenai, work through these steps:
- 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 Alaska using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.