Ruby at a glance
- Population: about 134, 118th by size in Alaska of 149 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 140 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 4.3% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Alaska places: the 118th-largest of 149 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 21% of Alaska's places have fewer residents (US Census Bureau).
- Coordinates: it sits at 64.7233, -155.5005 in the US Census Bureau Gazetteer.
- Nearest larger cities: Galena, AK (41 mi); Huslia, AK (71 mi); Nulato, AK (82 mi); Kaltag, AK (101 mi); Tanana, AK (106 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Koyukuk, AK (66 mi); Hughes, AK (98 mi) (US Census Bureau estimates).
What a personal loan costs in Ruby
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Alaska lending rules that apply in Ruby
The Alaska rate caps and licensing rules that reach Ruby are listed below, each with its source and retrieval 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 Ruby
A few practical steps will make the process in Ruby less costly:
- 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.