Payday Loans in Reva, Virginia

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

Company nameAddressZip codePhone number
TD Bank 13630 Foulger Square, Woodbridge, VA 22192 +1 (703) 730 - 9032
William Harvey Fairway Independent Mortgage Corporation Loan Officer 43777 Central Station Dr Suite 330, Ashburn, VA 20147 +1 (571) 248 - 0052
Advance America 1229 Lee Hwy, Lexington, VA 24450 +1 (540) 463 - 2327
BB&T Mortgage 25363 Lankford Hwy, Onancock, VA 23417 +1 (757) 789 - 0749
National Bank of Blacksburg 2280 Kraft Dr SW, Blacksburg, VA 24060 +1 (540) 552 - 0890
Freedom Mortgage - Staunton 1600 North Coalter Street 15th, Staunton, VA 24401 +1 (877) 684 - 4210
Ely Financial Network 580 W Main St, Wytheville, VA 24382 +1 (276) 228 - 4896
Walmart Money Center 1800 Peery Dr, Farmville, VA 23901
Walmart Money Center 313 Thacker Ave, Covington, VA 24426 +1 (540) 962 - 6670
Wells Fargo Bank 101 N Bridge St, Bedford, VA 24523 +1 (540) 586 - 8292

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Reva, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Mechanicsville, VA, Payday Loans in Newport News, VA, Payday Loans in Norfolk, VA, Payday Loan Companies in Oakton, VA, Payday Loan for Petersburg, VA, Payday Loans in Portsmouth, VA, Payday Loans in Reston, VA and Payday Loans in Richmond, 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 Reva, VA.

Beautiful sights of Reva, VA

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

22713, 22735

Are Payday Loans Legal In Reva, 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

Reva, VA payday loan calculator

Payday loans are a popular option for many people living in Reva, Virginia. These short-term loans can provide much-needed financial relief for individuals who need quick access to cash but don’t have other options. While payday loans are legal in Virginia, they can also come with high interest rates and fees. In this article, we will take a closer look at the payday loan industry in Reva, VA, and provide you with valuable information to help you make an informed decision about whether or not a payday loan is the right option for your financial needs.

The Basics of Payday Loans

A payday loan is a short-term loan that typically comes due on the borrower’s next payday. These loans are typically for small amounts, with the average loan amount around $500. In order to qualify for a payday loan, borrowers must provide proof of income and a valid checking account. The application process for a payday loan is typically quick and easy, with many lenders offering online applications.

The Legality of Payday Loans in Reva, Virginia

Payday loans are legal in Virginia, but there are regulations in place to protect borrowers. Lenders are required to obtain a license from the Virginia State Corporation Commission and must abide by specific rules and restrictions. The maximum loan amount in Virginia is $500, and lenders are not allowed to charge more than 36% interest.

It’s important to note that payday loans can come with high fees, including finance charges and origination fees. Borrowers should carefully read loan agreements and understand the total amount that will be due when the loan comes due. Some lenders may offer rollover or renewal options, which can extend the loan term but also come with additional fees.

Benefits and Drawbacks of Payday Loans

Payday loans can be a useful option for individuals who need quick access to cash for emergency expenses. Many lenders offer quick approval and funding, making these loans a convenient option for those who are pressed for time. However, payday loans can also come with high interest rates and fees, making them a costly option. Borrowers should carefully consider their financial situation and ability to repay the loan before taking out a payday loan.

Interesting Facts and Statistics About Payday Loans in Reva, Virginia

  • In 2018, over 518,000 payday loans were made in Virginia, totaling over $246.3 million in loans.
  • The average payday loan in Virginia is $380.
  • 15% of Virginia households were unbanked or underbanked, meaning they have limited access to traditional banking services and are more likely to use payday loans.

Apply Now

If you are considering a payday loan in Reva, Virginia, TheGuaranteedLoans.com can help you connect with potential lenders. As a connection service and not a direct lender, we can help you find the right loan option for your needs. Fill out our online application today to get started.

Conclusion

Payday loans can be a helpful option for individuals who need quick access to cash, but they come with risks and drawbacks. It’s important to carefully consider your financial situation and the terms of the loan before applying. If you do decide that a payday loan is the best option for your needs, be sure to work with a reputable lender and read the loan agreement carefully before signing.

F.A.Q.

How long do I have to repay a payday loan in Reva, Virginia?

The minimum loan term for a payday loan in Reva, Virginia is two weeks, and the maximum loan term is 45 days.

Can I rollover or renew my payday loan in Reva, Virginia?

No, Virginia law prohibits rollovers or renewals of payday loans. If you are unable to repay your loan on time, the lender must offer you a payment plan.