Virginia Payday Loan Laws and Regulations

Find out if short-term Payday Loans are legal in Virginia and what amounts, interest rates and repayment terms are set by the state's Legislation.

Legal Payday Loans Online for Virginia residentsApply online

Virginia Payday Loans Rates and Terms

Legal Status

Legal Status

The status of a loan type according to the Federal laws and regulations. What concerns Payday Loans some states consider them legal, some – illegal and some restrict them in terms of amounts and interest rates.

Maximum Loan Amount

Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

Maximum Loan Term

Maximum Loan Term

It’s the maximum period of time within which you are to allowed to pay off your loan.

30 day(s)
Maximum APR

Maximum APR

The maximum percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

Finance Charges

Finance Charges

All the payments you’re going to be charged for the loan including APR and other fees.

36% annual interest + $5 verification fee + 20% of loan

Make yourself safe by studying the laws, rules and regulations concerning Payday Loans and other short-term cash advance in Virginia. Apply for a Payday Loan online on a strong note.

Compare top legit Payday Lenders in Virginia:

LendYou will help you get the cash you need when you need it. You can apply for Payday Loans, Installment Loans or Personal Loans, etc. Compare the lenders and get matched with the best one.

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Varied
  • Rates and fees: Starting at 4.99% APR
  • Turnaround Time: 1 business day
  • $100 - $1000 Payday Loans
  • $1000 - $5000 Installment Loans
  • $5000 - $35000 Personal Loans
  • 18 years of age or older
  • U.S. citizenship
  • Valid checking or savings account with direct deposit
  • Minimum regular income of $1,000 per month
  • Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
  • High up to $15,000 loan amounts. 
  • Minimal restrictions on how you can use your loan.
  • No collateral or guarantor.
  • Bad credit is OK. 
  • It's not a direct lender, so you'll need to clarify rates and terms with the company you are matched with. 


Greenlight Cash created an online platform to connect consumers like you with reliable lenders across the country. They partner with a large network of professionals so you get a chance to work with one of them and meet the challenge of improving your financial situation in the most effective way. Once you tap submit, you get one step closer to receiving the funds.

  • Payday Loans
  • Installment Loans
  • Personal Loans
  • be a legal U.S. resident
  • be at least 18 years old
  • have a stable source of income
  • be currently employed
  • have an active bank account
  • Unrivaled flexibility and accessibility.
  • Predictable monthly payments

  • Quick and simplified borrowing process

  • Any credit is welcome
  • Not a direct lender.


GoGoPaydayLoans offers Payday Loans at affordable rates with convenient repayment terms. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $1000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day

$100 - $1000 Payday Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
  • You can get even as low as $100.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees. offers Personal Loans online at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $5000
  • Terms: Vary by state
  • Rates and fees: Varied
  • Turnaround Time: 1 - 2 business day

Personal Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • Quick - no driving, waiting, faxing, paperwork.
  • High approval rate even for bad credit borrowers.
  • Online Payday cash advance with no collateral or co-signer.
  • 24 / 7 online service.
  • High interest rates.
  • Available not in all the states.
  • Only loans up to $5000 are available. offers Personal Installment Loans online at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $3000
  • Terms: 6 months - 2 years
  • Rates and fees: Varied
  • Turnaround Time: 1 - 2 business day

Personal Installment Loans

  • At least 18 years of age
  • US residence
  • A valid telephone number and email address
  • An active bank account in your name
  • Be employed for at least 90 consecutive days with the same employer
  • Meet minimum income guidelines
  • Quick - no driving, waiting, faxing, paperwork.
  • High approval rate even for bad credit borrowers.
  • Online Payday cash advance with no collateral or co-signer.
  • 24 / 7 online service.
  • High interest rates.
  • Available not in all the states.
  • Only loans up to $3000 are available.


Table of Contents:

Are Payday Loans legal in Virginia?

Virginia Payday Loan Terms and Amounts

Virginia Payday Loans online laws

Virginia Payday Loans interest rates, fees and other finance charges

Virginia Payday Loans direct lenders regulations

Virginia Payday Loans consumer information

Legitimate Payday Loans online with NO credit check in Virginia

Does Virginia law allow Payday Loans for bad credit borrowers?

Legit Payday Loans in Virginia collection practices

Virginia Payday Loans news  - latest changes

Virginia Payday Loans historical background

Virginia Payday Loan alternatives

Are Payday Loans Legal in Virginia?

Short-term Payday Loans are Legal in the state of Califonia and are mostly regulated through  Va. Code Ann. §§ 6.2-1800 et seq. .

The Payday Lending legislation covers all the parts of the process concerning:

  • Payday Loan amounts
  • Payday Loan repayment terms
  • Payday Loan online direct lenders
  • Payday Loan stores near you
  • Payday Loan interest rates and other fees
  • Payday Loan collecting practices
  • Payday Loan default penalties
  • The number of outstanding Payday Loans as well as a cooling-off period in-between etc.

Read more: Payday Loans in Virginia

The eligibility criteria for Payday Loans in Virginia are:

  • Virginia (US) residence
  • Minimum regular income of $1,000 per month
  • Valid checking or savings account with direct deposit
  • Phone number and e-mail address

Virginia Payday Loan Terms and Amounts

Virginia allows maximum $500 Payday Loan amount. It should be repaid within up to 30 days as you get your next paycheck. Earlier payments don’t contemplate any additional fees. You are likely to be charged $26.38 for a 14-day $100 loan taking into account the maximum APR of 687.00%.

An example of a Payday Loan in Virginia

A lender signs a contract with a borrower, agreeing to take the borrower’s personal check as collateral for a cash advance. The lender agrees to not deposit the check until the date the loan is due, yet pays cash immediately to the borrower. Let’s say you want to borrow $300 until you get your next paycheck. The payday loan term must be at least twice as long as your pay cycle, so assuming you are paid on a semimonthly basis, the loan term would be 31 days. You write a check to the payday lender for $374.30 (36% interest for 31 days = $9.30 interest, plus a loan fee of 20% of $300 = $60 loan fee, plus $5.00 verification fee = $374.30) and you get $300 cash in return. The $74.30 interest and fees that you pay on the loan calculates to an Annual Percentage Rate (APR) of 287.61%.

For other details read further to find out how many Payday Loans you can borrow, whether rollovers or extensions are allowed, etc.

Virginia residents who are eligible for a Payday Loan can get $500 cash advance per contract and have no more than 1.00 outstanding loans at a time. The repayment term is capped at maximum 30 day(s).

However, there are no limits on the purpose of loan usage. Any urgent expenses, unforeseen bills, car repair, home repair, etc. may seem a sound reason to apply for a Payday Loan in Virginia.

If $500 is not enough, there are always other options to receive the necessary funds in Virginia:

  • Unsecured Installment Loans,
  • Bad credit Personal Loans,
  • Title Loans,
  • Check Cashing,
  • Pawn Shops, etc.

Virginia Payday Loans online laws

It is legal, so long as the company is licensed by the Virginia State Corporation Commission, even if they don’t have a physical office or address in Virginia. If they want to make payday loans to residents of Virginia, they have to be licensed in Virginia.
But if taking out a payday loan from a local office is a bad idea, getting one through the internet is an even worse idea. Here are some reasons to seriously avoid internet payday loans, or at least to use extreme caution:

  • You don’t know who you’re dealing with. It’s much better to have face-to-face dealings and a location where you can actually go to transact business and deal with follow-up problems.
  • You don’t always know where the lender is. You don’t know if they have an actual business office space, or if they’re just working from a call center site, like a telemarketing company. Thus, you’re not able to see and judge for yourself whether it appears to be a reputable and trustworthy business.
  • If legal problems develop that would require a lawsuit, there are difficult issues of court jurisdiction over the company. That means the Virginia courts where you live may not have the authority to make a ruling that binds that out-of-state company. There are many complicated factors that need to be considered. The point is, this is just another obstacle for you to overcome if problems arise.

You state the necessary amount, fill in your personal information and get suitable offers from legit direct lenders. It takes only a few minutes and doesn't affect your credit score. 

In case Payday Loan lenders violate Virginia laws, you can do the following:

  • Contact the Department of Business Oversight at
  • Call at their toll-free number - 1-866-275-2677
  • Report the matter to Virginia State Attorney General

Virginia Payday Loans interest rates, fees, and other finance charges

The main part of payday loan payment is mostly made up of the interest rate, or APR. The average APR that may be charged for short-term cash advance in Virginia is 687.00%. It means that if you borrow $100 Payday Loan for 14 days the finance charges will be 36% annual interest + $5 verification fee + 20% of loan.

Besides, the total cost of a Payday Loan includes some additional fees. Virginia lending rules allow to charge $25 NSF fee

The law obligates Virginia Payday Loan lenders to provide you with a written disclosure of all the rates and fees in the understandable language. You should read them carefully and if you agree to acknowledge the notification by signing the contract.

Virginia Payday Loans direct lenders regulations 

According to Virginia payday loan laws all direct lenders are obliged to register their companies which will allow issuing payday loans contract. It concerns both Online Payday Loan direct lenders and lenders in a store near you.

What does the law say about what payday lenders must do, what they can do, and what they cannot do?

  • A payday lender cannot make a payday loan to someone who already has a payday loan outstanding, even if it’s with another company. There is a statewide database that tracks this, and payday lenders must check it before making a loan.
  • The maximum loan amount allowed is $500.
  • A payday lender can’t give you another payday loan on the same day you paid off another one in full, or if you paid off another payday loan in the past 90 days on an extended payment plan, even if it’s with another company.
  • The time for repayment must be at least two times your pay cycle. Thus, if you get paid every two weeks, you must be given four weeks to repay the loan; if you get paid once per month, you must be given two months to repay; and so on.
  • The lender may agree to an extended payment plan for you. You can do this once in a 12-month period, even if you obtain payday loans from more than one lender. Under an extended payment plan, you are allowed to repay the amount you owe in at least four equal installments over a term of at least 60 days. The lender is not allowed to charge you any additional interest or fees, and interest will not accrue during the term of the extended payment plan. Remember, though, that you won’t be able to get another payday loan from any payday lender for at least 90 days after you finish the extended payment plan.
  • The lender cannot require any security (collateral) for the loan other than one personal check dated as of the date the loan is due (not the date you take out the loan).
  • The lender is prohibited from taking any payments from your account by automatic electronic withdrawals. Do not agree to let them do so if they ask you to. It’s bad for you, and it’s against the law for them to do so.
  • The simple interest rate cannot exceed 36%. But this is deceiving. Keep in mind that you can still be looking at interest rates that are up to 400% on an annualized basis.
  • You can be charged a loan fee of up to 20% of the amount of the loan. For example, if you take out a loan of $500, you will pay a $100 fee. This is in addition to the interest.
  • You can be charged $5 for a “verification fee.” This is to cover the lender’s use of the database mentioned above.
  • The lender is required to give you a pamphlet that explains your rights and responsibilities for payday loans in Virginia. The language of this pamphlet is set by law. The pamphlet is very detailed. You should read it very carefully before signing for the payday loan.
  • And, of course, read the loan agreement itself very carefully before signing. The loan agreement is required to be in writing.
  • The lender will not give you a payday loan unless you have a valid driver’s license or another identification card from the Department of Motor Vehicles.
  • Lenders are prohibited from making payday loans to members of the military or their spouses and dependents. This is also true for members of the Reserve or National Guard who are serving on active duty for at least 30 days.
  • A payday lender is not allowed to operate any other business from that same location unless they get special permission from the State Corporation Commission.

Nevertheless, you should be careful not to come across any scams. Some unfair lenders can operate without license or under a different license and offer too expensive ‘payday loans’ under illegal conditions. Always check that the lender you are going to apply to works under Virginia state law.

Virginia Payday Loans consumer information

Besides amounts, rates and fees, consumers must be also well aware of other details of Payday Loans in Virginia. They include the availability and number of rollovers, extensions and repayment plan, a cooling-off period, any default penalties or additional fees, etc. Check out the table below to find the most essential information:

Rollovers or extensionsOne repayment plan in 4 equal installments
Cooling-off period1 day
NSF fee$25 NSF fee
Criminal actionsProhibited

Look for more detailed information on the official Virginia state regulator website -

Legitimate Payday Loans Online with NO credit check in Virginia

Looking for a legal Payday Loan with No credit check in Virginia? You must understand the meaning of this phrase correctly at first. No credit check implies that a lender will not inquire about your credit history information from or send your borrowing data to any of the three major credit bureaus Equifax, Experian and TransUnion.

If you don’t want to damage your credit history Virginia law allows you to apply for a Payday Loan with No credit check. But you should understand that a lender needs to check your creditworthiness at least in some way. He can perform a soft credit check when a lender pre-approves you for a loan and this inquiry will not appear on your credit report. Or there’re other ways to prove you can afford the cash advance. Payday Loan lenders use the tracking system to verify your debts, check your income, etc. And generally, they charge higher interest to lessen the risks.

Virginia Payday loans online no credit check are one of the easiest options of getting quick cash to cope with emergency financial requirements, especially for the people with poor credit.

Does Virginia law allow Payday Loans for bad credit borrowers?

The average credit score in Virginia is 680, placing it in the good range. But it doesn't mean that those who have a worse credit can't apply for a Payday Loan in Califonia. 

  • First of all, There're a lot of legit direct lenders in Virginia providing Payday cash advance to borrowers with both good and bad credit score.
  • Secondly, you can always find a cosigner to increase your chances of being approved for a bad credit Payday Loan.
  • Find out how to improve your credit score and do your best to do it fast. 
  • Or consider taking out a bad credit Installment Loan, or bad credit Personal Loan.

Legit Payday Loans in Virginia collection practices

If you can’t repay the loan amount plus interest on a due date it means you default the loan. When Virginia direct lender isn’t able to cash your check after the repayment term is over he may charge you a NSF fee. NSF fee means there are non-sufficient funds on your account. The amount charged is determined by the lender and stated in the agreement and may also be limited by the state’s Payday Loan law. In Virginia it’s $25 NSF fee.

Besides there are other default penalties in Virginia such as $25 NSF fee.

Virginia Legal Aid Society Payday Loans.pdf

What concerns collection practices, first of all, you may stay assured that any criminal actions are forbidden in Virginia. The State Corporation Commission licenses certain companies to make payday loans in Virginia. The SCC sets the rules and regulations under which they operate. The SCC can also take away their license if they show a pattern of violating those rules.
You also have the right to sue the payday loan company if they violate the Payday Loan Act. If you are successful, the court may order the company to reimburse you for your attorney’s fees, expert witness fees, and court costs.
If you have a complaint against a payday lender, contact Virginia Bureau of Financial Institutions, Tyler Building, 8th floor, 1300 East Main Street, Suite 800, Richmond VA 23219, 1-800-552-7945. The supervisor from that office interviews witnesses, reviews the payday lender’s business records and documentation, and determine whether to pursue civil or criminal charges

Virginia Payday Loans news  - latest changes

In an effort to fight predatory lending, loans with unfavorable terms to the borrower, the House of Delegates and Senate each voted recently to pass bills that will change laws related to short-term lending such as payday loans. The Virginia Poverty Law Center, an advocacy group for low-income Virginians, supported the legislation.

“Most of the lending going on now is just gouging people and making obscene profits for the payday and car title lenders that have no interest in helping people and making it mutually beneficial,” said Jay Speer, executive director of the VPLC and director of the Center for Economic Justice.

The Virginia Fairness in Lending Act proposed 4 House bills aimed at stricter regulation of consumer loans. They intend to increase the maximum amount of such loans from $500 to $2,500. The repayment term will become minimum 4 months and maximum 2 years.

The bill also caps the APR at 36% on open-end credit plans which currently have no cap, and will also apply to payday loans. The Virginia Fairness in Lending Act states that the amount needed to regulate consumer lending will be just under $300,000 and will be accumulated by fees required for lenders to become licensed. Currently there are 15 licensed lenders with over 150 locations in the state, in addition to online lenders.

“Internet lenders use these loopholes, like open-end credit, which have no regulation at all,” Speer said. “House Bill 789 and Senate Bill 421 close all these loopholes and set up a fair system that’s fair for borrowers and lenders.”

HB 789 is currently in the Senate Committee on Commerce and Labor. SB 421 heads to the House for consideration.

Virginia Payday Loans historical background

The history of Payday Loans in Virginia
July 1, 2002Payday lending business was allowed.
2006Payday Loans to the military were capped at 36% APR.
2009Payday loans were restricted by interest cap.
June 2, 2016A Payday Loan Rule was proposed but still under consideration.

Virginia Payday Loan alternatives

If you're looking for instant cash advance in Virginia but not a Payday Loan, consider other alternative ways to get the necessary funds:

  • Apply for Virginia Installment Loans - $1000 - $5000 cash advance repaid over several months or years in equal installments.
  • Take out a Car Title Loan if you own a vehicle to use as collateral.
  • Sell some of your valuable stuff online or at a pawn-shop.
  • Consider borrowing from a bank or credit union. In Virginia there're numerous Federal Credit Unions offering Payday Alternative Loans:  Navy Federal Credit Union. Virginia Credit Union, Northwest Federal Credit Union, Langley Federal Credit Union, Apple Federal Credit Union, etc.
  • Qualify for one of Federal or Virginia government assistance programs: Virginia Family Access to Medical Insurance Security (FAMIS) and FAMIS MOMS, Virginia Head Start, Virginia Low Income Home Energy Assistance Program, Virginia Medicaid, Virginia School Breakfast and Lunch Program, Virginia Special Milk Program and many others depending on your needs.