Seldovia at a glance
- Population: about 248 residents, ranking 95th of 149 Census places in Alaska (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 235 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up roughly 5.5% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Alaska places: 95th by size among 149 communities (US Census Bureau).
- Size percentile: about 36% of places in Alaska are smaller (US Census Bureau).
- Coordinates: it sits at 59.4395, -151.7104 in the US Census Bureau Gazetteer.
- Nearest larger cities: Homer, AK (16 mi); Kachemak, AK (19 mi); Soldotna, AK (76 mi); Kenai, AK (79 mi); Seward, AK (94 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Ouzinkie, AK (108 mi); Newhalen, AK (114 mi); Nondalton, AK (116 mi) — US Census Bureau populations.
What a personal loan costs in Seldovia
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Alaska lending rules that apply in Seldovia
The sourced rows below are the rules a licensed lender must follow when lending in Alaska, and therefore in Seldovia.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Seldovia
The order below is a sensible way to approach a loan in Seldovia:
- 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.