Payday loans in Richmond, Virginia |

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Compare your loan options in Richmond, Virginia

Find out the important information you need before taking out a payday loan in Richmond.

Whether it’s an emergency repair or just making it through to your next paycheck, there are options to help you navigate the rocky waters of financial instability. A payday loan in Richmond can give you an easy way to access quick credit, but it does come at a cost. If you’re thinking about applying for one, read this guide to find out what’s involved.

How much can I borrow in Richmond?

Payday loans in Richmond follow the laws of Virginia. All payday loan lenders have to follow the Code of Virginia Title 6.2 Chapter 18. The same laws also apply to out-of-state lenders that want to provide online payday loans to residents of Richmond.

Under these laws, you can borrow up to $500 for two or more pay periods. However, it’s important to note that payday lending is illegal in the state of Virginia. This means residents of the Richmond can’t go through an online lender to finance their loan.

What you need to know about payday lending in Virginia

Why can't I take out an online payday loan in Richmond?

Online lenders often require that consumers provide access to a bank account for lenders to deposit a loan and to debit the payment when it’s due. Because payday lenders have been known to keep debiting from an account even when there are insufficient funds–causing fees from the lender and the bank to pile up–Virginia legislators have decided to ban the practice of providing online loans. You won’t be able to take out a payday loan online in the state. Instead, you need to visit a physical location.

Find a lender that offers payday loans in Richmond

Remember that online lending is illegal in Virginia. You must visit a storefront if you want to take out a payday loan.

Data updated regularly
Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 to $5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
$1,000 to $25,000
2 to 3 business days
Be employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
No green card? You could still qualify for a personal loan.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$100 to $15,000
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Monevo Installment Loans
$500 to $100,000
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.

Compare up to 4 providers

Why a resident of Richmond might want to take out a loan

  • Bad credit is OK. Although lenders are likely to check your credit, it won’t play a huge role in your approval. Lenders care more about your current financial situation than your credit history.
  • Simple application process. It’s easy to fill out a payday loan application, and when you visit a store, there will likely be someone available to help if you have any questions.
  • Use your loan for anything. Whether you need the money for a bills or everyday expenses for a few weeks, you can use your loan funds for anything as long as it’s legal.

How much a short term loan can really cost you

Sam’s brother got into a small scuffle and landed himself in jail. Sam didn’t have enough to bail him out, so he decided to take out a payday loan to cover the cost. He visited a storefront and was approved for a $500 loan with a finance charge of $112.

The loan term lasted four weeks, and Sam was able to walk out of the store with a check he could cash to pay for his brother’s bail. During the term, they both picked up a few extra shifts at their jobs to cover the $612. At the end of the loan period, the lender cashed Sam’s post-dated check for the full amount. It cleared, and Sam was able to avoid any extra costs.

What you’ll need to apply for a payday loan in Richmond

Before you visit a lender, you’ll need to meet some basic eligibility criteria. You’ll have to be at least 18 years old, have a regular source of income and be a citizen or permanent resident of the US.

When you go to a store, you’ll need to bring proof of your employment, income and identity. Lenders will want your Social Security number and to know how much you make on a monthly basis before issuing a loan.

Payday loan locations in Richmond, Virginia

Where to get a payday loan in Richmond

If you’re looking for short term loan lenders in Richmond that operate out of storefronts, here are some of your options:

  • ACE Cash Express. Southside Plaza, 617 D East Belt Blvd, Richmond, VA 23224
  • Advance America. 6506 Hull Street Rd, Richmond, VA 23224
  • All American Payday Loans. 700 E Main St #707, Richmond, VA 23219
  • Cash-2-U Loans. 6100 Midlothian Turnpike, Richmond, VA 23225
  • Check City. 21 E Broad St, Richmond, VA 23219
  • Check into Cash. 3059 Mechanicsville Turnpike, Richmond, VA 23223
  • Fast Auto & Payday Loans. 2600 E Main St, Richmond, VA 23223
  • First Virginia. 159 E Belt Blvd, Richmond, VA 23224
  • Guaranteed Payday Loans. 8191 Brook Rd, Richmond, VA 23227
  • Quick Payday Loans of Richmond. 3126 W Cary St #722, Richmond, VA 23221

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