Virginia Payday Loans

Despite having the distinction of being the birthplace and home of the father of the United States, George Washington, Richmond, Virginia served as the capitol of the confederacy during the Civil War.  A list of famous people from Virginia reads like a who's who of American history:  Thomas Jefferson, William Clark, Merriweather Lewis, James Madison, and seven other Presidents.  The state motto is "Sic Semper Tyrannis - Thus always to tyrants" and it is the phrase John Wilkes Booth shouted after he shot Abraham Lincoln.

Virginia law requires all payday and cash advance customers be supplied with a copy of an agreement signed by the lender and the customer.  This agreement must also be displayed and must list all fees and charges as well as the annual percentage rate.  The agreement must also state that the payday loan is intended for short term purposes only.  A payday lender cannot require you to give them more than one check.  You cannot use the money from such a loan to buy goods or services from the lender.

Maximum Loan Amount

Lenders may not lend more than $500 at one time to the same person.

Loan Terms

The specified due date must be within seven days of the loan agreement.

Extensions and Rollovers

Virginia does not allow extensions or rollovers for these loans.

Fees and Charges

A lender may charge fees in the form of interest totaling no more than 15 percent of the face value of the loan.

Fee Schedules and APR

Virginia requires that the APR is disclosed on the loan agreement but does not place a limit on that APR.

Check Into Cash
1309 Fordham Drive Suite 104
Virginia Beach, VA 23464
American Cash Center
4573 South Amherst Hwy
Madison Heights, VA 24572
Virginia Beach Nathan's Lynnhaven Pawn Shop
1194 Lynnhaven Parkway
Virginia Beach, VA 23452
Check City
4708 Jefferson Davis Highway
Richmond, VA 23234
Shamrock Mortgage Inc
1536 Honey Grove Dr Suite H
Richmond, VA 23229
Cash 2 U
3131 Mechanicsville Trnpk
Richmond, VA 23298
Check Into Cash Va LLC
3059 Mechanicsville Pike
Richmond, VA 23223
Cash Advance Center
551 East Laburnum Avenue
Richmond, VA 23222
Cash 2 U
6100 Midlothian Turnpike
Richmond, VA 23225
Advance America Cash Advnce Cntrs
3806 Mechanicsville Pike
Richmond, VA 23223



Virginia Loan Statistics

Pay Schedule
Average Loan Average Age Weekly Bi-Weekly Monthly Twice Per Month Home Owner Renter
2012$6793817%53%15%15%25%75%
2011$6213717%55%12%17%24%76%
2010$6243915%52%13%20%24%76%