Electric City at a glance
- Population: the Census estimates 946 residents, ranking 209th of 281 places in Washington (Vintage 2023).
- 2020 Census base: 958 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 1.3% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Washington places: 209th largest of 281 (US Census Bureau).
- Size percentile: roughly 26% of places in Washington rank below it by population (US Census Bureau).
- Coordinates: mapped at 47.9130, -119.0461 by the US Census Bureau Gazetteer.
- Nearest larger cities: Grand Coulee, WA (3 mi); Coulee Dam, WA (5 mi); Bridgeport, WA (30 mi); Brewster, WA (36 mi); Okanogan, WA (40 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Elmer City, WA (7 mi); Almira, WA (15 mi); Hartline, WA (16 mi) (US Census Bureau estimates).
What a personal loan costs in Electric City
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Washington lending rules that apply in Electric City
The sourced rows below are the rules a licensed lender must follow when lending in Washington, and therefore in Electric City.
| 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 Electric City
The steps below are worth completing first when you borrow in Electric City:
- 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.