Payday Loans in Newington, Virginia

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

Company nameAddressZip codePhone number
Herndon Short Term Loans G Enterprises & Associates, LLC Virtual Suite 20170, Herndon, VA 20170 +1 (866) 675 - 3049
BB&T 93 Front St, Lovingston, VA 22949 +1 (434) 263 - 4806
BB&T 236 W Lee Hwy, Warrenton, VA 20186 +1 (540) 351 - 6071
Lendmark Financial Services LLC 18013 Forest Rd Suite A-08, Forest, VA 24551 +1 (434) 363 - 4856
TitleMax Title Loans 7321 Little River Turnpike, Annandale, VA 22003 +1 (703) 720 - 5439
First Bank & Trust Co. - Woodstock 1101 Hisey Ave, Woodstock, VA 22664 +1 (540) 459 - 7228
Scruggs, Rick - Financial Designs 1116 Vista Park Dr, Forest, VA 24551 +1 (434) 528 - 0051
National Bank - Claypool Hill 1155 Claypool Hill Mall Rd 7013, Cedar Bluff, VA 24609 +1 (276) 596 - 9151
Sonabank 613 S Congress St, New Market, VA 22844 +1 (540) 740 - 3898
Ameris Bank Mortgage Office 12500 Fair Lakes Cir 290, Fairfax, VA 22033 +1 (703) 466 - 4080

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Newington, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Sterling, VA, Payday Loans in Suffolk, VA, Payday Loans in Virginia Beach, VA, Same Day Loans in Alexandria, VA, Payday Loan Without a Credit Check in Annandale, VA, Payday Loans in Arlington, VA, Payday Loans in Ashburn, VA and No Credit Check Loans in Blacksburg, 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 Newington, VA.

Beautiful sights of Newington, VA

Payday Loans Available in Newington, VA By The Following ZIP Codes:

22122

Are Payday Loans Legal In Newington, 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

Newington, VA payday loan calculator

Payday Loans in Newington, Virginia: What You Need to Know

With the cost of living rising in Newington, Virginia, it can be difficult for some residents to make ends meet. Unexpected expenses can arise, and the need for financial assistance becomes necessary. At times, people may not have the access to traditional lending options.

Payday loans can be a viable option for people who need quick cash and do not have access to other forms of credit. Payday loans are legal in Virginia, including Newington. These loans are convenient and accessible, but it is important to understand how they work, the potential risks, and how they differ from traditional loans.

How Payday Loans Work

Payday loans are short-term loans that typically range from $100 to $500. They are designed to be repaid with the borrower’s next paycheck. To apply, borrowers must provide proof of income and a valid ID.

The lender will deposit the loan amount into the borrower’s checking account and withdraw the payment, plus fees and interest, when the loan comes due. The repayment period usually ranges from two weeks to one month.

The Pros and Cons of Payday Loans

Payday loans provide a quick and convenient solution to unexpected expenses. They offer access to cash when you need it most, and the application process is simple and quick. Unlike traditional loans, payday lenders do not require a lengthy application process or credit check.

However, payday loans can come with significant drawbacks. They typically come with high-interest rates and fees, making it difficult for borrowers to pay the loan back on time. In some cases, borrowers may even need to take out a second loan to pay off the first, leading to a cycle of debt.

Payday Loans vs. Traditional Loans

Traditional loans are long-term loans that offer more favorable terms and interest rates, but they typically require a credit check and a lengthy application process. This can be a barrier for those with poor credit or no credit.

Payday loans do not require a credit check, making them more accessible to those with poor credit. However, they come with higher fees and interest rates than traditional loans. In addition, payday loans are typically short-term, which means they must be repaid quickly, whereas traditional loans have longer repayment periods.

Apply Now

If you need financial assistance and are considering a payday loan, TheGuaranteedLoans can help. We are a connector service that can connect you with potential lenders in Newington, Virginia. Simply fill out our online application, and we will match you with lenders who can offer you the best loan options.

It is important to remember that TheGuaranteedLoans is not a direct lender. We only connect you with potential lenders to facilitate the loan application process. Before accepting a loan, it is important to read the terms and conditions carefully and ensure that you can afford to repay the loan on time.

Interesting Facts and Statistics about Payday Loans in Newington, Virginia

  • Payday loans are legal in Virginia, including Newington.
  • In 2019, the Virginia General Assembly passed legislation limiting the interest rate on payday loans to 36%.
  • As of 2021, there are over 690 payday loan locations in Virginia.
  • The average payday loan amount in Virginia is $385.
  • The average fee for a payday loan in Virginia is $104.15.

The Bottom Line

Payday loans can be a quick and convenient solution to unexpected expenses, but they come with significant risks. It is important to understand how they work, the potential drawbacks, and how they differ from traditional loans.

If you are considering a payday loan, it is important to read the terms and conditions carefully and ensure that you can afford to repay the loan on time. And if you need help finding a lender, TheGuaranteedLoans can connect you with potential lenders in Newington, Virginia.

F.A.Q.

Can I get a payday loan online in Newington, Virginia?

Yes, you can get a payday loan online in Newington, Virginia. However, all online payday lenders must be licensed by the SCC and must comply with Virginia's payday lending laws.

Do I have to provide collateral to get a payday loan in Newington, Virginia?

No, payday loans in Newington, Virginia are unsecured loans, which means you do not have to provide collateral to get a loan.