Payday Loans in Long Island, Virginia

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No payday loan companies in Long Island, VA. Consider companies in other cities:

Company nameAddressZip codePhone number
Celco Federal Credit Union 3381 Virginia Ave, Narrows, VA 24124 +1 (540) 921 - 2700
SunTrust 8170 Stonewall Shops Square, Gainesville, VA 20155 +1 (703) 743 - 3004
1st Advantage Federal Credit Union 1201 Broad Rock Blvd, Richmond, VA 23249 +1 (757) 877 - 2444
American National Bank and Trust Company - Loan Production Office Not a branch 3000 Ogden Rd, Roanoke, VA 24018 +1 (800) 240 - 8190
SunTrust Bank 2304 Hunters Woods Plaza, Reston, VA 20191 +1 (571) 325 - 3945
BB&T 621 Wood Ave E, Big Stone Gap, VA 24219 +1 (276) 523 - 2311
Advance America 7289 Commerce St, Springfield, VA 22150 +1 (703) 451 - 2630
SunTrust Bank 8170 Stonewall Shops Square, Gainesville, VA 20155 +1 (703) 743 - 3004
Beacon Credit Union 2101 Forest Ave, Buena Vista, VA 24416 +1 (434) 237 - 1566
TitleMax Title Loans 1330 Old Bridge Rd, Woodbridge, VA 22192 +1 (703) 496 - 9812

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Long Island, VA, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Virginia Beach, VA, Short-term Loans in Alexandria, VA, Quick Loan in Annandale, VA, Payday Loan Companies in Arlington, VA, Payday Loans in Ashburn, VA, Payday Loans in Blacksburg, VA, No Credit Check Loans in Burke, VA and Payday Loans in Centreville, VA. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Long Island, VA.

Are Payday Loans Legal In Long Island, Virginia?

Loan Rates and Fees, Laws and Regulations in Virginia.

Virginia Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)36% APR (in reality can reach 601%*)
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term30 days
Number of Rollovers Allowed0
Finance Charges36% APR

Long Island, VA payday loan calculator

Understanding Payday Loans in Long Island, Virginia

Payday loans are a type of short-term borrowing that can be useful in emergency situations. These loans are designed to be repaid on the borrower’s next payday, usually within two to four weeks.

In Long Island, Virginia, payday loans are legal, and are regulated by the Virginia State Corporation Commission. However, it is important to note that payday loans can carry high interest rates and fees, and can be difficult to repay on time.

How Do Payday Loans Work?

Payday loans are usually available in small amounts, typically ranging from $100 to $1,000. To apply for a payday loan, the borrower must provide proof of income, such as a recent pay stub. The lender will also require proof of identity and residence.

Once the application is approved, the borrower will receive the funds directly into their bank account. Repayment is typically due on the borrower’s next payday, and is usually done through a post-dated check or automatic withdrawal from the borrower’s bank account.

What Are the Risks of Payday Loans?

While payday loans can be a helpful option in certain circumstances, they also come with significant risks. One of the biggest risks is the high interest rates and fees that are often associated with these types of loans. In Virginia, payday lenders are allowed to charge up to 36% interest plus a fee of up to 20% of the loan amount.

Another risk is the possibility of becoming trapped in a cycle of debt. Since payday loans are due in full on the borrower’s next payday, they can be difficult to repay on time. If the borrower is unable to repay the loan, they may be forced to take out another loan to cover the original amount and additional fees. This cycle can continue, resulting in a never-ending cycle of debt and financial hardship.

What Are the Alternatives to Payday Loans?

If you are looking for a way to borrow money in Long Island, Virginia, but are concerned about the risks of payday loans, there are several alternatives to consider. These include:

  • Personal loans: Personal loans are available at many banks and credit unions, and can offer lower interest rates than payday loans.
  • Credit cards: If you have a credit card, you may be able to use it to pay for emergency expenses.
  • Assistance programs: There are many government and non-profit programs available to help individuals and families in need.

Interesting Facts and Statistics about Payday Loans in Long Island, Virginia

  • In 2020, there were over 160 payday lending locations operating in Virginia.
  • The average payday loan in Virginia is for $390.
  • Payday lending in Virginia generates over $1 billion in revenue each year.

Apply Now

If you need to borrow money and are considering a payday loan, it is important to weigh your options carefully. TheGuaranteedLoans can help connect you with potential lenders who offer a variety of loan types, including personal loans and payday loans.

Remember, TheGuaranteedLoans is a connector service, not a direct lender. We work with a network of trusted lenders to help you find the best loan option for your needs. To apply, simply fill out our online application form and we will get back to you as soon as possible.

Note: payday loans should only be used for emergencies and should not be used as a long-term financial solution. If you are struggling with debt, consider reaching out to a credit counselor for assistance.

F.A.Q.

How do I apply for a payday loan in Long Island, Virginia?

To apply for a payday loan in Long Island, Virginia, you will need to provide a valid government-issued ID, proof of income, and proof of residency. You can apply in person at a payday loan store or online through a lender's website.

How do I repay a payday loan in Long Island, Virginia?

Payday loans in Long Island, Virginia are typically due on the borrower's next payday, but some lenders may offer extended repayment plans. You can repay the loan by providing a post-dated check or allowing the lender to electronically withdraw funds from your bank account on the due date.