Thorne Bay at a glance
- Population: roughly 470 people; 64th of 149 places in Alaska (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 477 (US Census Bureau).
- 2020 to 2023 change: population fell about 1.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Alaska places: 64th of 149 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 57% of places in Alaska are smaller (US Census Bureau).
- Coordinates: 55.6670, -132.5357 (US Census Bureau Gazetteer).
- Nearest larger cities: Klawock, AK (23 mi); Craig, AK (26 mi); Ketchikan, AK (40 mi); Wrangell city and, AK (41 mi); Kake, AK (104 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Kasaan, AK (9 mi); Coffman Cove, AK (26 mi); Hydaburg, AK (34 mi) (US Census Bureau).
What a personal loan costs in Thorne Bay
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Alaska lending rules that apply in Thorne Bay
The table lists the Alaska rules that apply to a loan made in Thorne Bay, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Thorne Bay
These steps are the ones that most affect the offer you receive in Thorne Bay:
- 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.