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State lending rules

Virginia lending rules

Virginia is covered on Loancalculated with 227 city and town pages. Personal-loan terms in Virginia are set by licensed lenders under state law; the sourced rules below apply to every borrower in the state.

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By the Loancalculated Editorial Team · Last updated 2026-09-16

Key rules for borrowers in Virginia

RuleDetailSource
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

We cover 227 cities and towns in Virginia.

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The lowest rates are only available to the most qualified applicants.

Advertising disclosure: Loancalculated 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. Read the full disclosure.

Frequently asked questions

What interest rate can a lender charge in Virginia?
It depends on the product and the statute that governs it. The sourced table on this page lists Virginia's usury cap and the licensing rules, each with its publisher and a link to the primary source.
Are payday loans legal in Virginia?
Payday lending is regulated state by state; some states permit it, some cap it, and some prohibit it outright. See the sourced figure on this page for the current position.
Do I need a license to lend money in Virginia?
Most consumer lenders must be licensed by the state regulator named on this page. You can verify a lender's license with that regulator before you sign anything.

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