Alderson at a glance
- Population: about 941 residents, ranking 106th of 230 Census places in West Virginia (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 970 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a loss of about 3.0% since the 2020 count (US Census Bureau).
- Rank among West Virginia places: 106th-largest of 230 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 54% of the Census places in West Virginia (US Census Bureau).
- Coordinates: 37.7297, -80.6420 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Ronceverte, WV (10 mi); Lewisburg, WV (13 mi); Hinton, WV (14 mi); Rainelle, WV (18 mi); White Sulphur Springs, WV (19 mi) (US Census Bureau populations).
- Nearest smaller places: Union, WV (11 mi); Meadow Bridge, WV (15 mi); Rupert, WV (16 mi) (US Census Bureau estimates).
What a personal loan costs in Alderson
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
West Virginia lending rules that apply in Alderson
The table lists the West Virginia rules that apply to a loan made in Alderson, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Traditional payday lending is generally prohibited; check cashers are regulated under W. Va. Code ch. 32A Source says: Traditional "Payday Lenders" are generally prohibited within this state. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated consumer lender license required from the Commissioner (W. Va. Code § 46A-4-101) Source says: Unless a person has first obtained a license from the commissioner authorizing the person to make regulated consumer loans | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
| State lending regulator | West Virginia Division of Financial Institutions (WV DFI) Source says: The West Virginia Division of Financial Institutions is charged with the regulation and supervision of financial institutions chartered by the State of West Virginia. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 31% per year on unsecured loans of $3,500 or less; 27% on $3,500–$15,000; 18% above $15,000 (W. Va. Code § 46A-4-107) Source says: the loan finance charge, calculated according to the actuarial method, may not exceed 31 percent per year | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
How to compare offers in Alderson
These steps are the ones that most affect the offer you receive in Alderson:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in West Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.