What is the Virginia Fairness in Lending Act cap?
Virginia Code § 6.2-1500 caps consumer finance loans at 36.00% APR plus a small verification fee, prohibiting predatory balloon-payment advances.
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Personal Loans in Virginia
InstantLoans.ai connects residents of Virginia with independent third-party lenders operating in accordance with Virginia Fairness in Lending Act - Va. Code Ann. § 6.2-1500 et seq..
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Last Updated: June 15, 2026
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Editorial Policy & Integrity PactVirginia Regulatory Overview
Governing Statute
Virginia Fairness in Lending Act - Va. Code Ann. § 6.2-1500 et seq.
Primary legal framework regulating consumer loans and borrower protections.
Regulatory Authority
Virginia Bureau of Financial Institutions (State Corporation Commission)
Official State Portal →Statutory APR Limit
36.00% statutory APR cap plus limited verification fee under Virginia Fairness in Lending Act
Annual percentage rates comply with state usury and consumer credit caps.
Maximum Network Loan
Up to $35,000
Prepayment allowed at any time with zero penalty under state statute.
Understanding Loan Protections in Virginia
Virginia's Fairness in Lending Act overhauled state consumer lending by instituting an all-inclusive 36.00% APR cap, requiring affordable installment schedules, and ending predatory payday lending.
Guaranteed Borrower Rights
- ✓ 36.00% statutory interest rate ceiling on consumer loans
- ✓ Mandatory installment repayment schedules with no balloon payments
- ✓ Right to prepay balance in full without fee
How InstantLoans.ai Works in Virginia
1. Connect
Submit your information securely. We ping our network of participating independent lenders.
2. Review Offers
If a lender accepts your request, review their specific rates, fees, and terms independently.
Frequently Asked Questions in Virginia
Who regulates consumer loans in Virginia?
The Bureau of Financial Institutions within the Virginia State Corporation Commission licenses and audits consumer finance companies.