Colonial Heights at a glance
- Population: about 18,393, 29th by size in Virginia of 227 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 18,170 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 1.2% growth over the 2020 Census base (US Census Bureau).
- Rank among Virginia places: 29th of the state's 227 Census places (US Census Bureau).
- Size percentile: larger than about 87% of the Census places in Virginia (US Census Bureau).
- Coordinates: 37.2617 / -77.3968, per the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Petersburg, VA (4 mi); Hopewell, VA (6 mi); Richmond, VA (19 mi); Newport News, VA (50 mi); Suffolk, VA (57 mi) (US Census Bureau).
- Nearest smaller communities: Stony Creek, VA (22 mi); Waverly, VA (23 mi); Claremont, VA (24 mi) (Census populations).
What a personal loan costs in Colonial Heights
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.
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.
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 Colonial Heights
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Colonial Heights
These steps are the ones that most affect the offer you receive in Colonial Heights:
- 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.