Toksook Bay at a glance
- Population: 638 residents, the 42nd-largest of 149 places in Alaska (US Census Bureau, Vintage 2023).
- 2020 Census base: 659 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a loss of about 3.2% since the 2020 count (US Census Bureau).
- Rank among Alaska places: the 42nd-largest of 149 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 72% of Alaska places in population terms (US Census Bureau).
- Coordinates: 60.5280, -165.1062 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Chevak, AK (71 mi); Hooper Bay, AK (76 mi); Bethel, AK (114 mi) (US Census Bureau populations).
- Smaller places nearby: Nightmute, AK (10 mi); Chefornak, AK (39 mi); Mekoryuk, AK (41 mi), per US Census Bureau estimates.
What a personal loan costs in Toksook Bay
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Alaska lending rules that apply in Toksook Bay
Read the table as the compliance picture for a lender serving Toksook Bay: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Toksook Bay
The steps below are worth completing first when you borrow in Toksook 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.