Personal loans in Richmond, VA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Richmond, VA.
The median household in Richmond earns $64,587 a year, 31% below the Virginia median of $93,170. About 18% of residents live below the federal poverty line, and 56.5% of households rent their home.
Virginia law that applies in Richmond
| 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). |
|---|---|
| License required | Yes. |
| 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. |
Full rules with statute citations: Personal Loans in Virginia. Cities in Virginia cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Richmond
Here's what to have on hand before you start your personal loan request in Richmond:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Richmond
What Richmond borrowers use it for
gifts and travel without maxing a card
Moving costsdeposits, trucks and first-week expenses
Need money nowthe fastest options online
Medical billspay a doctor, dentist or pharmacy bill now
Loans for your situation
How to get a personal loan in Richmond
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Richmond
109 FDIC-insured bank branches from 25 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Truist Bank | 20 | 919 E Main St, Richmond 23219 |
| Wells Fargo Bank, National Association | 15 | 1021 E Cary St, Richmond 23219 |
| Bank of America, National Association | 11 | 1372 Gaskins Rd, Richmond 23238 |
| Atlantic Union Bank | 10 | 7000 Three Chopt Rd, Richmond 23226 |
| TowneBank | 7 | 7013 Three Chopt Rd, Richmond 23226 |
| JPMorgan Chase Bank, National Association | 7 | 8727 Staples Mill Rd, Richmond 23228 |
| Citizens and Farmers Bank | 4 | 8001 W Broad St, Richmond 23294 |
| Chesapeake Bank | 4 | 1900 Lauderdale Dr, Richmond 23238 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Richmond
30 credit-union locations from 15 credit unions.
| Credit union | Location |
|---|---|
| Virginia | 4001 Lauderdale Dr, Richmond 23233 |
| 1St Advantage | 1204 Broad Rock Blvd, Richmond 23224 |
| Henrico | 1201 N Laburnum Ave, Richmond 23223 |
| Peoples Advantage | 3601 Dill Rd, Richmond 23222 |
| Richmond Heritage | 50 W Commerce Rd, Richmond 23224 |
| Navy Federal Credit Union | 5445 Glenside Dr, Richmond 23228 |
| Bayport | 109 E Nine Mile Road, Richmond 23075 |
| Argent | 400 N 8Th St, Richmond 23219 |
| Call | 6601 W Broad St, Richmond 23230 |
| Dominion Energy Credit Union | 600 Canal Place, Richmond 23219 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Richmond city · Payday Loans in Richmond · Title Loans in Richmond
Frequently asked questions
Can I get a personal loan with bad credit in Richmond?
Possibly. Lenders in our network consider applicants with fair and bad credit across Virginia, including Richmond. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Richmond, VA?
36% simple annual interest on licensed $300-$35,000 installment loans.
How fast can I get a personal loan in Richmond?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
Where can I find a loan for bad credit in Richmond?
You can apply at local banks and lenders in Richmond, 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.
Are personal loans bad for your credit?
Not necessarily. Checking offers often uses a soft inquiry that doesn't affect your score, though a lender may do a hard pull before final approval. Once you have the loan, on-time payments can help build your credit history, especially with lenders that report to the major bureaus, while missed payments can lower your score. Richmond residents can see their options in about 3 minutes.
Can I get an emergency loan with bad credit in Richmond?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Richmond residents can see if they qualify in about 3 minutes.
How do I apply for a personal loan with bad credit in Richmond?
Start by gathering your ID, proof of income and bank account details. Then complete our online form with accurate information about your income and the amount you need. Lenders in our network review your request, and many respond within minutes. Asking for an amount that fits your income can improve your chances. If you're approved, you'll review the full terms before signing.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Richmond with our free 3-minute form.
Do I need to visit a store in Richmond?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.