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Personal loans in Grundy, VA

A personal loan in Grundy is repaid in equal monthly installments over a fixed term, with the rate set from your credit history, income and debts. At about 837 residents, Grundy is the 144th-largest of the 227 Census places in Virginia. Virginia law sets the rate ceilings and the licensing a lender must hold, and the table below lists each sourced figure.

By the Personalloaned Editorial Team · Last updated 2026-09-16

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Grundy at a glance

  • Population: 837 residents, the 144th-largest of 227 places in Virginia (US Census Bureau, Vintage 2023).
  • 2020 Census base: the 2020 Census recorded 887 residents here (US Census Bureau).
  • 2020 to 2023 change: down roughly 5.6% across the 2020-to-2023 comparison (US Census Bureau).
  • Rank among Virginia places: 144th out of 227 Census places (US Census Bureau).
  • Size percentile: roughly 37% of Virginia's places have fewer residents (US Census Bureau).
  • Coordinates: latitude 37.2672, longitude -82.0946 (US Census Bureau Gazetteer).
  • Nearest larger cities (120-mile radius): Elkhorn City, KY (15 mi); Honaker, VA (19 mi); Richlands, VA (20 mi); Clintwood, VA (22 mi); Cedar Bluff, VA (22 mi) (US Census Bureau).
  • Nearest smaller towns: Haysi, VA (11 mi); Clinchco, VA (16 mi); Bradshaw, WV (17 mi) — US Census Bureau populations.

What a personal loan costs in Grundy

A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.

APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.

The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.

Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.

Virginia lending rules that apply in Grundy

The table carries the Virginia rate and licensing rules that apply to consumer loans made in Grundy.

RuleDetailSource
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 statusLegal 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 licensingConsumer 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 regulatorVirginia 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 Grundy

The order below is a sensible way to approach a loan in Grundy:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Virginia using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Grundy?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Grundy are the same as elsewhere in Virginia.
How much can I borrow with a personal loan in Grundy?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Grundy require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Grundy hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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