Big Stone Gap at a glance
- Population: a Census-estimated 5,114, placing it 62nd among Virginia's 227 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 5,252 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population fell about 2.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Virginia places: 62nd of the state's 227 Census places (US Census Bureau).
- Size percentile: roughly 73% of places in Virginia rank below it by population (US Census Bureau).
- Coordinates: 36.8627 / -82.7761, per the US Census Bureau Gazetteer.
- Nearest larger cities: Mount Carmel, TN (21 mi); Church Hill, TN (24 mi); Kingsport, TN (27 mi); Bristol, TN (37 mi); Bristol, VA (38 mi); US Census Bureau population estimates.
- Smaller places close by: Appalachia, VA (4 mi); Norton, VA (10 mi); Duffield, VA (10 mi) (US Census Bureau).
What a personal loan costs in Big Stone Gap
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Virginia lending rules that apply in Big Stone Gap
Read the table as the compliance picture for a lender serving Big Stone Gap: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 12% per year maximum contract rate, except as otherwise permitted by law (Va. Code § 6.2-303) Source says: no contract shall be made for the payment of interest on a loan at a rate that exceeds 12 percent per year | Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| Payday lending status | Legal via licensed short-term lenders; interest capped at a 36% simple annual rate plus limited fees (Va. Code § 6.2-1817) Source says: Interest at a simple annual rate not to exceed 36 percent | Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance license required from the State Corporation Commission (Va. Code § 6.2-1501) Source says: No person shall engage in the business of making loans to individuals for personal, family, household, or other nonbusiness purposes | Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| State lending regulator | Virginia State Corporation Commission, Bureau of Financial Institutions (BFI) Source says: The Bureau of Financial Institutions (BFI) is a regulatory division of the Virginia State Corporation Commission (SCC.) | Virginia State Corporation Commission (SCC) as of 2026-09-16 |
How to compare offers in Big Stone Gap
Before you share your details with a lender in Big Stone Gap:
- 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 Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.