Steilacoom at a glance
- Population: about 6,610, 112th by size in Washington of 281 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 6,731 (US Census Bureau).
- 2020 to 2023 change: about 1.8% lower than the 2020 Census base (US Census Bureau).
- Rank among Washington places: 112th out of 281 Census places (US Census Bureau).
- Size percentile: roughly 60% of Washington's places have fewer residents (US Census Bureau).
- Coordinates: 47.1693, -122.5923 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Lakewood, WA (3 mi); University Place, WA (4 mi); DuPont, WA (5 mi); Fircrest, WA (6 mi); Tacoma, WA (8 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Ruston, WA (10 mi); Roy, WA (13 mi); Algona, WA (18 mi) (US Census Bureau).
What a personal loan costs in Steilacoom
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 advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
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 Steilacoom
The Washington rate caps and licensing rules that reach Steilacoom are listed below, each with its source and retrieval date.
| 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 Steilacoom
Here is a short checklist for comparing personal loans in Steilacoom:
- 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.