Floyd at a glance
- Population: roughly 449 people; 176th of 227 places in Virginia (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 445 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 0.9% more residents than the 2020 Census base (US Census Bureau).
- Rank among Virginia places: 176th-largest of 227 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it exceeds roughly 22% of Virginia's Census places by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 36.9122, -80.3181.
- Nearest larger cities: Christiansburg, VA (16 mi); Stuart, VA (19 mi); Radford, VA (20 mi); Blacksburg, VA (23 mi); Dublin, VA (24 mi); US Census Bureau population estimates.
- Smaller towns nearby: Boones Mill, VA (25 mi); Danbury, NC (35 mi); Fries, VA (39 mi) (US Census Bureau).
What a personal loan costs in Floyd
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total 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.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Virginia lending rules that apply in Floyd
The table carries the Virginia rate and licensing rules that apply to consumer loans made in Floyd.
| 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 Floyd
Run through this list before signing anything in Floyd:
- 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.