Personal loans in Virginia
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
Virginia personal loan rules at a glance
| Governing law | Consumer Finance Companies (Va. Code Title 6.2, Chapter 15). (Va. Code §§ 6.2-1500 et seq.) |
|---|---|
| Rate cap | Licensed consumer finance lenders may charge a single annual interest rate of no more than 36%, computed only on the unpaid principal (no add-on or compounding). A late fee of $20 is allowed for a payment more than 10 days late. (Va. Code § 6.2-1520(A), (B)) |
| License required | Yes. A license is required to make consumer loans at more than the general rate allowed by § 6.2-303, whether or not the lender has a Virginia location; loans made in violation are void. (Va. Code § 6.2-1501(A), (E), (F)) |
| Loan sizes covered | Installment loans of $300 to $35,000, with terms of 6 to 120 months, repayable in at least six substantially equal payments. (Va. Code § 6.2-1520(A)) |
| Origination / other fees | A loan processing fee of up to the greater of $50 or 6% of the principal, but never more than $150. It is not counted as interest for the 36% limit. (Va. Code § 6.2-1520(C)) |
Bad credit loans in Virginia
Bad credit doesn't automatically rule you out in Virginia. Many lenders in our network look at your income and bank activity, not just your score, and offer personal installment loans of $500 to $5,000 to borrowers with fair or poor credit. Rates are higher than prime offers, so compare the monthly payment and total cost before you accept. More on bad-credit loans.
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Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Rate cap |
|---|---|
| Kentucky | Tiered monthly caps: 3% to $5,000, 2.42% to $10,000, 2.25% to $15,000. |
| Maryland | 33% APR on first $1,000 (loans to $2,000); 24% otherwise. |
| North Carolina | Tiered caps: 33% on first $4,000, 24% to $8,000, 18% above. |
| Tennessee | 36% effective rate for industrial loan and thrift loans of $100+ (since July 2025); flex loans 24% plus fee. |
| West Virginia | 31% up to $3,500; 27% to $15,000; 18% above. |
| District of Columbia | 24% a year cap; licensed money lenders must include all fees. |
Personal Loans by city in Virginia
Counties in Virginia
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Also see: Payday Loans in Virginia · Title Loans in Virginia · All Virginia loan options
Frequently asked questions
Is there a cap on personal loan interest rates in Virginia?
36% simple annual interest on licensed $300-$35,000 installment loans.
Do personal loan lenders need a license in Virginia?
Yes. A license is required to make consumer loans at more than the general rate allowed by § 6.2-303, whether or not the lender has a Virginia location; loans made in violation are void.
Can I get a personal loan with bad credit in Virginia?
Yes, some lenders in our network work with fair or bad credit, but approval is not guaranteed and rates are higher. Licensed lenders in Virginia must follow the state's consumer-lending rules shown above; tribal and bank-partner lenders may follow different rules, so compare the APR on every offer.
Can I get a personal loan in Virginia with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Virginia residents can see if they qualify for $100 to $5,000 in about 3 minutes.
How do installment loans work in Virginia?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Virginia residents can see installment loan offers with our free 3-minute form.
Where can I find a loan for bad credit in Virginia?
You can apply at local banks and lenders in Virginia, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
How can I get an emergency loan in Virginia?
Unexpected bills happen, and an online emergency loan can help you handle them quickly. Fill out our 3-minute form with your income and bank details, and lenders in our network will review your request. Many make decisions within minutes, and approved funds are often deposited by the next business day. Amounts range from $100 to $5,000, and you're never obligated to accept an offer.