- Traditional two-week payday loans are not offered in Virginia.
- Short-term loans must be repaid in installments under the Virginia Fairness in Lending Act (2020).
- Credit union PALs and bank small-dollar loans are usually still cheaper.
Short-term loan rules in Virginia
| Rule | Virginia |
|---|---|
| What changed | Short-term loans must be repaid over months rather than in one payment, with interest and fees limited by law |
| Check first | Confirm current limits with the State Corporation Commission |
Rules checked 2026-10-04. Confirm current limits with the Virginia State Corporation Commission, Bureau of Financial Institutions.
What this means for borrowers
You can still borrow a few hundred dollars quickly in Virginia, but the loan will be spread over several payments instead of being due in full on your next payday. That usually makes each payment smaller and the APR far lower than a traditional payday loan.
How to check a lender
Use NMLS Consumer Access and the Virginia State Corporation Commission, Bureau of Financial Institutions to confirm a lender’s license. Be wary of online lenders that claim Virginia law does not apply to them.
Cheaper options in Virginia
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Virginia that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Tried the free options first?If you still need a small short-term loan, you can send one request to our lender network. Compare the cost carefully.
See loan optionsFrequently asked questions
Are payday loans legal in Virginia?
Not in the traditional single-payment form. Virginia requires short-term loans to be repaid in installments with limits on cost, under the Virginia Fairness in Lending Act (2020).
Where can I complain about a lender in Virginia?
Contact the Virginia State Corporation Commission, Bureau of Financial Institutions and file a complaint with the CFPB.