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Payday loans in Virginia

Payday loans for bad credit in Virginia

Payday loans are allowed in Virginia from state-licensed lenders (Short-term/payday lender license). Here are the limits Virginia law sets, what a typical loan can cost, and where to get free help if you need it.

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Last updated .

Part of the Virginia guide

What Virginia law allows

Payday loans in Virginia
ProductStatusAPR capAmountTermLicenseLaw
Payday loans[1][2][3][4] AllowedHigh-cost loan 36% APR Up to $2,500 122 days to 2 years Short-term/payday lender license Code of Virginia sec. 6.2-1800 et seq., esp. sec. 6.2-1817
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

The rules in full

Payday loans

Rate cap
Reclassified since 2020 as short-term loans under chapter 18 (Payday Lenders / short-term lending, sec. 6.2-1800 et seq.). Sec. 6.2-1817 caps interest at a simple annual rate not to exceed 36 percent.
Fees
Monthly maintenance fee: lesser of 8 percent of the originally contracted loan amount or 25 dollars (indexed for inflation under sec. 6.2-1817.1). Deposit-item-return fee capped at 25 dollars. Late charges capped at 20 dollars per sec. 6.2-400. Collection damages/costs capped at the originally contracted loan amount.
License
Short-term/payday lender license under Code of Virginia Title 6.2, chapter 18, issued by the Virginia State Corporation Commission's Bureau of Financial Institutions.

Full detail for every loan type: Virginia lending laws.

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Rent and jobs in Virginia

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in Virginia
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[5]$1,735FY2026
Unemployment rate[6]3.6%2026-08

Other options in Virginia

Cheaper options to try first

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
  • Nonprofit credit counseling through the National Foundation for Credit Counseling.
  • A payment plan from the company you owe, if you ask before you miss a payment.
  • 211 for help with rent, utilities and food: call 211 or visit 211.org.

More cheaper options in Virginia.

Other loan types allowed in Virginia

See every loan type Virginia law allows.

Payday loans in nearby states

Sources

  1. law.lis.virginia.gov/vacode/title6.2/chapter18/section6.2-1817. Retrieved September 23, 2026.
  2. scc.virginia.gov/consumers/banks-consumer-lenders/file-a-financial-complaint. Retrieved September 23, 2026.
  3. law.lis.virginia.gov. Code of Virginia sec. 6.2-1800 et seq., esp. sec. 6.2-1817. Retrieved September 23, 2026.
  4. scc.virginia.gov. Virginia State Corporation Commission, Bureau of Financial Institutions. Retrieved September 23, 2026.
  5. National Low Income Housing Coalition. Out of Reach 2026: Virginia. Retrieved September 23, 2026.
  6. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

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Important disclosures

APRs vary by lender and state in Virginia. Each lender sets its own rates and terms and must show you the APR before you sign.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
36%
Repayment
12 monthly payments
Payment
$100.46
Finance charge
$205.52
Total of payments
$1,205.52

Example: a $1,000 payday loan at 36% APR repaid in 12 monthly payments of $100.46 costs $1,205.52 in total, including a finance charge of $205.52. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

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  • Questions about a lender licensed in Virginia? Contact the Virginia State Corporation Commission, Bureau of Financial Institutions or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.