Payday Loans in Virginia

At a Glance

Virginia’s poverty rate in 2017 was about 10.6%, which is one of the lowest rates in the nation. According to the U.S. Census Bureau’s American Community Survey (ACS), the median household income in Virginia reached $72,577 in 2018 —that was $10,640 higher than the nationwide average. Despite such a high median household income and an unemployment rate of only 2.8%, Virginia residents are still searching for alternative means for making ends meet.

Average Credit Card Debt and Median Household Income in Virginia vs. the U.S.
Average Credit Card Debt (Q1 2019)
Median Household Income (2018)

Payday Loans in Virginia

A payday loan is a small dollar (typically less than $1,000) loan that’s offered for a short term (typically 2 weeks) at an average interest rate (400% APR is typical).

Payday loans in Virginia are governed by a set of laws that place restrictions and limits on who can conduct business as a payday lender, what they have to do to obtain a license, and what happens if the lender doesn’t meet the necessary payday lending requirements in Virginia.

Payday Loan Statistics for Borrowers in Virginia vs. Nationally
Average Loan Amount

Consumer Protection in Virginia

How to Report a Lender in Virginia

If you want to find out if a payday lender in Virginia is properly licensed and bonded, you can contact the Bureau of Financial Institutions—a division of the State Corporation Commission. You can visit their website, or call their toll-free number at 1-800-552-7945.

By visiting the website for the Bureau of Financial Institutions, you will find a list of names and addresses of lenders who are currently licensed. You can also find a lot of information about your rights as a borrower, and how to file a complaint about a Virginia payday or title lender.

Virginia Bureau of Financial Institutions Information
  • Address:Tyler Building, 8th Floor 1300 East Main Street, Suite 800 Richmond, VA 23219
  • Phone:(800) 552-7945
  • Fax:(804) 371-9416
  • Website:

Guides to Payday in Virginia Cities

Check out these payday guides for the following cities in Virginia…

Lynchburg | Newport News | Norfolk | Richmond | Roanoke | Virginia Beach