Elim at a glance
- Population: the Census estimates 360 residents, ranking 80th of 149 places in Alaska (Vintage 2023).
- 2020 Census base: 372 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 3.2% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Alaska places: 80th in population of 149 places (US Census Bureau).
- Size percentile: larger than about 46% of the Census places in Alaska (US Census Bureau).
- Coordinates: 64.6184, -162.2762 (US Census Bureau Gazetteer).
- Nearest larger cities: Unalakleet, AK (67 mi); Stebbins, AK (79 mi); St. Michael, AK (80 mi); Nome, AK (93 mi); Buckland, AK (99 mi), each a US Census place with its estimated population.
- Nearest smaller places: Golovin, AK (22 mi); White Mountain, AK (34 mi); Shaktoolik, AK (37 mi) (US Census Bureau estimates).
What a personal loan costs in Elim
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our 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.
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.
Alaska lending rules that apply in Elim
The sourced rows below are the rules a licensed lender must follow when lending in Alaska, and therefore in Elim.
| 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 Elim
The order below is a sensible way to approach a loan in Elim:
- 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.