Soap Lake at a glance
- Population: a Census-estimated 1,744, placing it 176th among Washington's 281 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,697 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: up about 2.8% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Washington places: 176th largest of 281 (US Census Bureau).
- Size percentile: ahead of around 37% of Washington places in population terms (US Census Bureau).
- Coordinates: 47.3911 latitude, -119.4846 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Ephrata, WA (6 mi); Quincy, WA (20 mi); Moses Lake, WA (21 mi); Royal City, WA (34 mi); Warden, WA (36 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Wilson Creek, WA (17 mi); Coulee City, WA (18 mi); Krupp, WA (23 mi), each a US Census place.
What a personal loan costs in Soap Lake
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 Soap Lake
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Soap Lake
Before you share your details with a lender in Soap Lake:
- 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.