Personal loans in Virginia
Consumer lending in Virginia is regulated by the Virginia State Corporation Commission, Bureau of Financial Institutions. Below are the sourced rules that affect what a lender can charge you, followed by the cities we cover.
Lending rules in Virginia
| Payday lending | Permitted and regulated — maximum loan amount: $2,500; maximum loan term: A licensee may engage in the business of making short-term loans, provided that each loan meets all of the following conditions: 2. The minimum duration of the loan is four months and the maximum duration of the loan is 24 months; however, the minimum duration of the loan may be less than four months if the total monthly payment on the loan does not exceed the greater of (i) an amount that is 5% of the borrower's verified gross monthly income or (ii) 6% of the borrower's verified net monthly income. Finance charges: A. A licensee may charge, collect, and receive only the following fees and charges in connection with a short-term loan, provided such fees and charges are set forth in the written loan contract described in §6.2-1816.1: 1. Interest at a simple annual rate not to exceed 36%; 2. Subject to §6.2-1817.1, a monthly maintenance fee that does not exceed the lesser of 8% of the originally contracted loan amount or $25, provided the fee is not added to the loan balance on which interest is charged; 3. Any deposit item return fee incurred by the licensee, not to exceed $25, if a borrower's check or electronic draft is returned because the account on which it was drawn was closed by the borrower or contained insufficient funds, or the borrower stopped payment of the check or electronic draft, provided that the terms and conditions upon which such fee will be charged to the borrower are set forth in the written loan contract described in §6.2-1816.1; and 4. Damages and costs to which the licensee may become entitled to by law in connection with any civil action to collect a loan after default, except that the total amount of damages and costs shall not exceed the originally contracted loan amount. B. A licensee may impose a late charge according to the provisions of §6.2-400 provided, however, that the late charge shall not exceed $20. The Commission may, from time to time, by regulation, adjust the dollar amount of $25 specified in subsection A of §6.2-1817 to reflect the rate of inflation from the previous date that the dollar amount was established, as measured by the Consumer Price Index or other method of measuring the rate of inflation that the Commission determines is reliable and generally acceptedSource: National Conference of State Legislatures · as of 2023 |
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| Small-loan / installment licensing | Consumer lenders must obtain a state license (Yes, if interest rate exceeds 12% per year). Statutory basis: Va. Code Ann. §§ 6.2-1500 et seq. (Amendments effective 1/1/2021). Licensing administered through NMLS: No.Source: Conference of State Bank Supervisors · as of 2026 |
| Interest rate cap (usury limit) | Usury limit: 6% is standard rate (Va. Code Ann. § 6.2-301); 12% max (Va. Code Ann. § 6.2-303 (2019). Finance rates and fees for licensed lenders: Single annual rate not to exceed 36%. CSBS 50-state survey of consumer finance laws; state-verified usury catalog.Source: Conference of State Bank Supervisors · as of 2026 |
| Consumer lending regulator | Consumer lenders in Virginia are licensed and supervised by the Virginia State Corporation Commission, Bureau of Financial Institutions.Source: Conference of State Bank Supervisors · as of 2026 |
| Debt collection rules | Third-party debt collectors must comply with the federal Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq.; state consumer-protection and debt-collection enforcement is handled by the Virginia Office of the Attorney General. The FDCPA expressly authorizes state attorneys general to enforce it (15 U.S.C. § 1692l). Some states also require collection agencies to be licensed.Source: Virginia Office of the Attorney General · as of 2026 |
| Military lending protections | The federal Military Lending Act (MLA) caps the Military Annual Percentage Rate (MAPR) at 36% for consumer credit extended to active-duty service members, their spouses and certain dependents, and bars mandatory arbitration and prepayment penalties on covered loans. Federal protection that applies nationwide, including in this state.Source: Consumer Financial Protection Bureau · as of 2024 |
| Complaint / licensing lookup | Check whether a lender holds a state license through NMLS Consumer Access (nmlsconsumeraccess.org) or the Virginia State Corporation Commission, Bureau of Financial Institutions; consumers can file complaints with the Virginia State Corporation Commission, Bureau of Financial Institutions or the CFPB at consumerfinance.gov/complaint.Source: Nationwide Multistate Licensing System (NMLS) Consumer Access · as of 2026 |
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Cities in Virginia
Virginia BeachRichmondChesapeakeNorfolkArlingtonRoanokeNewport NewsAlexandriaFredericksburgHamptonLynchburgCharlottesvillePortsmouthBlacksburgSuffolkWilliamsburgHarrisonburgWinchesterDale CityCentrevilleRestonMcLeanLeesburgTuckahoeAshburnLake RidgeBurkeWoodbridgeManassasDanvilleLinton HallAnnandaleMechanicsvilleOaktonFair OaksSouth RidingPetersburgSpringfieldSterlingWest Falls ChurchShort PumpTysonsStauntonSalemCave SpringHerndonBailey's CrossroadsFairfaxChantillyWest SpringfieldChristiansburgHopewellWoodlawnChesterWaynesboroCherry HillBrambletonMontclairRose HillLortonMcNairLincolniaCulpeperMeadowbrookMerrifieldMidlothianFranklin FarmBuckhallSudleyHybla ValleyKingstowneFranconiaColonial HeightsBurke CentreLaurelBon AirIdylwoodGainesvilleManassas ParkBristolBull RunEast Highland ParkViennaWolf TrapFort HuntRadfordHollinsStone RidgeFront RoyalBroadlandsHighland SpringsGlen AllenGreat FallsFalls ChurchGrovetonHuntingtonKings Park WestBrandermillMount VernonMartinsvilleNewingtonLansdowneTimberlakeSugarland RunLakesideNewington ForestCascadesPoquosonFairfax StationManchesterWyndhamStuarts DraftDranesvilleWakefieldNew BaltimoreGloucester PointLowes IslandForestTriangleMadison HeightsLake BarcroftDifficult RunLoudoun Valley EstatesLake MonticelloWoodburnYorkshireWarrentonGeorge MasonIndependent HillBelmontCountrysideUniversity of VirginiaDunn LoringSeven CornersPulaskiInnsbrookPurcellvilleFishersvilleFair LakesHollymeadLake of the WoodsSmithfieldDumbartonLaurel HillAbingdonWythevilleFranklinBellwoodVintonSouth BostonGreenbriarRockwoodFort BelvoirCrozetMantuaLong BranchMontroseFlorisCollinsvilleBull RunAshlandWoodlakeNorth SpringfieldLexingtonFarmvilleCarrolltonSandstonStrasburgSouth RunPotomac MillsGalaxBuena VistaBedfordBraddockHutchisonBelle HavenFort LeeAquia HarbourPimmit HillsMassanetta SpringsBridgewaterBensleyMarionEmporiaCovingtonWoodstockQuantico BaseDumfriesDulles Town CenterSpotsylvania CourthouseRichlandsBig Stone GapEttrickBluefieldChamberlayneCrosspointeOrangeStafford CourthouseRocky MountLurayKing GeorgeSouth HillBethel ManorUnion MillFalmouthBerryvilleTazewellEnonVeronaHayfieldPantopsMount HermonKings ParkCounty CenterUniversity CenterLoch LomondBroadwayBealetonColonial BeachNavyLake Land'OrNortonClifton ForgeCloverdaleShenandoah FarmsDahlgrenBlackstoneAltavistaWest PointChincoteagueGloucester CourthouseNorth ShoreSouthern GatewayLebanonMarshallBlue RidgeDalevilleWiseTimbervilleLake WildernessElktonGrottoesPearisburgHillsvilleCreweShenandoahWindsorWaverlyMerrimacDublinLovettsvilleFairlawnOne LoudounAmherstOak GroveChase CityMatoacaGoose Creek VillageRavensworthShawneelandLake HolidayStephens CitySully SquareNew MarketWarsawArcolaSaltvilleAppomattoxMassanuttenWeyers CaveCrimoraPatrick SpringsRavenNarrowsPennington GapGlade SpringChilhowieMount JacksonStanleyVictoriaHorse PastureLouisaRivannaTappahannockRustburgPiney MountainGate CityMason NeckEast LexingtonCourtlandHampden-SydneyFerrumGordonsvilleLaymantownBull Run Mountain EstatesPrince GeorgeWestlake CornerLyndhurstAdwolfHalifaxExmoreShawsvilleDaytonCoeburnMiddletownRioChathamHaymarketWeber CityTwin LakesClarksvilleRural RetreatGreat Falls CrossingBowling GreenGreenvilleAppalachiaCanaLake CarolineHurtCamp BarrettGlasgowStuartNokesvilleKilmarnockMountain RoadEdinburgApple Mountain LakeCaptains CoveCentral GarageClintwoodBrightwoodPenhookNellysfordLawrencevilleRuckersvilleRinerBasyeJonesvilleGretnaOnancockKenbridgeBelmont EstatesRidgewayCastlewoodSpringvilleChatmossHonakerPassapatanzyDoomsClaypool HillCedar BluffBuchananIndependenceEllistonStanleytownCape CharlesSt. PaulInnovationOccoquanGrundyEarlysvilleAtkinsUnion HallPembrokeBrooknealMathewsBassettEmoryChester GapMcGaheysvilleGrattonPrices ForkConcordAmelia Court House
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