meta_id 3400291

On July 1, 2026, Alaska's Department of Commerce, Community, and Economic Development, Division of Banking and Securities (Division) issued an enforcement order against Affordable Loan Company (License #45), a small loan company licensed since June 9, 1993. The Division determined that Affordable Loan Company violated the Alaska Small Loans Act (AS 06.20 et seq.) by failing to file its 2025 annual report by the required deadline. Small loan companies must submit annual reports to the Division by March 15 each year. The 2025 annual report deadline was extended to March 16, 2026, as March 15 fell on a Sunday. Affordable Loan Company failed to file the report by this deadline. On March 25, 2026, the Division notified the company by email of the violation. When the company did not respond, the Division sent a certified letter on April 9, 2026. The company ultimately filed its 2025 annual report on April 20, 2026—35 days late. The Division found that Affordable Loan Company violated AS 06.20.190 by failing to file the annual report on time. Under AS 06.01.035(h), the Division imposed a civil penalty of $3,500, calculated at $100 per day for each of the 35 days the report was late. The penalty is immediately due. Affordable Loan Company consented to the order and waived its right to a hearing. James E. Johnson, the company's president, signed the consent agreement on June 22, 2026. The Division ordered the company to comply with all provisions of the Alaska Small Loans Act and associated regulations. The order is publicly disclosed and reportable.