Payday Loans in Natural Bridge, Virginia

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No payday loan companies in Natural Bridge, VA. Consider companies in other cities:

Company nameAddressZip codePhone number
Check City 21 E Broad St, Richmond, VA 23219 +1 (804) 782 - 2274
CashFlash 3297 Mechanicsville Turnpike, Richmond, VA 23223 +1 (804) 925 - 2686
BB&T 1002 Magnolia Ave, Buena Vista, VA 24416 +1 (540) 261 - 8006
Bank Services of Virginia Inc 9112 Virginia Ave, Bassett, VA 24055 +1 (276) 629 - 3331
Truliant Federal Credit Union 7321 Peppers Ferry Blvd, Radford, VA 24141 +1 (800) 822 - 0382
Riverside Pawn Co 4003 Halifax Rd, South Boston, VA 24592 +1 (434) 572 - 8000
Colonial Farm Credit 428 E Main St, Waverly, VA 23890 +1 (804) 834 - 3931
First National Bank 1301 Main St, Altavista, VA 24517 +1 (434) 369 - 3001
Lendmark Financial Services LLC 2430 Virginia Ave, Collinsville, VA 24078 +1 (276) 352 - 4001
Bank of Botetourt 9, Lloyd Tolley Rd, Natural Bridge Station, VA 24579 +1 (540) 291 - 1881

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Natural Bridge, VA, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Newport News, VA, Payday Loans in Norfolk, VA, Payday Loan Without a Credit Check in Oakton, VA, Quick Loan in Petersburg, VA, Payday Loans in Portsmouth, VA, Payday Loans in Reston, VA, Short-term Loans in Richmond, VA and Payday Loan Companies in Roanoke, 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 Natural Bridge, VA.

Beautiful sights of Natural Bridge, VA

Are Payday Loans Legal In Natural Bridge, 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

Natural Bridge, VA payday loan calculator

What are Payday Loans in Natural Bridge, Virginia?

Payday loans are short-term loans that are meant to help people cover their expenses until their next paycheck arrives. These types of loans are often used for unexpected expenses, such as car repairs or medical bills, and can be a lifeline for those who are struggling to make ends meet.

In Virginia, payday loans are legal and regulated by the Virginia State Corporation Commission. In order to qualify for a payday loan, borrowers must have an active bank account, proof of income, and a valid ID. The loan amounts can range from $100 to $500, and the repayment terms are typically two weeks.

Why Use a Payday Loan?

There are a few reasons why someone might choose to use a payday loan:

  • They have an unexpected expense that they can’t cover with their current funds
  • They need cash quickly and can’t wait for their next paycheck
  • They have bad credit and can’t get approved for a traditional loan

While payday loans can be convenient and helpful in certain situations, they can also be expensive due to high interest rates and fees. It’s important to be aware of the potential costs and to only use a payday loan as a last resort.

Interest Rates and Fees

In Virginia, payday lenders are allowed to charge up to 36% interest on loans, plus a $5 verification fee. For a $100 loan, the total
amount due would be $141.67 after two weeks.

While this may seem like a small fee, it can quickly add up if the loan is not paid back on time. Borrowers who are unable to pay back the loan on the due date may also face additional fees and interest charges.

Apply Now

If you’re in need of a payday loan in Natural Bridge, Virginia, TheGuaranteedLoans can help connect you with potential lenders. We are a lending connector service, not a direct lender, which means we can help you find the best loan options for your needs.

To get started, simply fill out our online application form. We’ll ask for some basic information about your income and expenses, and we’ll work to connect you with lenders who may be able to offer you a loan.

Remember, it’s important to only use a payday loan as a last resort, and to be aware of the potential costs. If you’re unsure whether a payday loan is the right choice for you, consider speaking with a financial advisor or credit counselor.

Interesting Facts and Statistics

  • As of September 1, 2021, there were 562 licensed payday lenders in Virginia (source: Virginia State Corporation Commission)
  • According to a 2019 report by the Pew Charitable Trusts, the average payday loan borrower takes out eight loans per year, with a total of $375 in interest fees paid per loan
  • In 2020, Virginia lawmakers passed the Virginia Fairness in Lending Act, which mandated lower interest rates and fees on certain loans, including payday loans

While payday loans can provide a quick source of cash in an emergency, they should be used with caution due to the potential high costs and fees. If you’re in need of financial assistance, it’s always a good idea to explore all of your options before committing to a loan.

F.A.Q.

Are there any restrictions on the number of payday loans I can take out in Natural Bridge, Virginia?

Yes, Virginia law limits borrowers to one outstanding payday loan at a time. Borrowers are also prohibited from taking out more than three payday loans in a six-month period.

What are the rights and protections for payday loan borrowers in Natural Bridge, Virginia?

Payday loan borrowers in Natural Bridge, Virginia have the right to receive clear and accurate information about the terms and conditions of their loan, as well as the right to receive a written agreement outlining the terms of the loan. Borrowers also have the right to cancel their loan within two business days of signing the agreement.