State reference · VA
Virginia lending rules
Virginia has 227 Census places covered on Paydayloaning, with a combined estimated population of 3,111,094. Payday and small-loan terms in Virginia are set by licensed lenders under state law; the sourced rules below apply to every borrower in the state.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
The verdict
Legal via licensed short-term lenders
Source: Virginia General Assembly (Code of Virginia) · as of 2026-09-16
- Maximum rate
- 12% per year maximum contract rate, except as otherwise permitted by law
- Virginia General Assembly (Code of Virginia)
- Licensing
- Consumer finance license required from the State Corporation Commission
- Virginia General Assembly (Code of Virginia)
- Regulator
- Virginia State Corporation Commission, Bureau of Financial Institutions (BFI)
- Virginia State Corporation Commission (SCC)
Rules are quoted from the cited sources. How payday lending is regulated.
Key rules for borrowers in Virginia
Quoted from the statute, regulator or agency named in each row.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 12% per year maximum contract rate, except as otherwise permitted by law (Va. Code § 6.2-303) Source says: no contract shall be made for the payment of interest on a loan at a rate that exceeds 12 percent per year |
Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| Payday lending status | Legal via licensed short-term lenders; interest capped at a 36% simple annual rate plus limited fees (Va. Code § 6.2-1817) Source says: Interest at a simple annual rate not to exceed 36 percent |
Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance license required from the State Corporation Commission (Va. Code § 6.2-1501) Source says: No person shall engage in the business of making loans to individuals for personal, family, household, or other nonbusiness purposes |
Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| State lending regulator | Virginia State Corporation Commission, Bureau of Financial Institutions (BFI) Source says: The Bureau of Financial Institutions (BFI) is a regulatory division of the Virginia State Corporation Commission (SCC.) |
Virginia State Corporation Commission (SCC) as of 2026-09-16 |
Cities in Virginia
All Virginia citiesWe cover 227 Census places in Virginia.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.