Halifax at a glance
- Population: 1,091 — 133rd in Virginia, which has 227 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 1,116 (US Census Bureau).
- 2020 to 2023 change: down roughly 2.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Virginia places: 133rd in population of 227 places (US Census Bureau).
- Size percentile: about 41% of places in Virginia are smaller (US Census Bureau).
- Coordinates: 36.7612, -78.9276 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: South Boston, VA (4 mi); Clarksville, VA (22 mi); Roxboro, NC (25 mi); Chase City, VA (26 mi); Chatham, VA (26 mi), each a US Census place with its estimated population.
- Smaller places nearby: Scottsburg, VA (8 mi); Virgilina, VA (17 mi); Brookneal, VA (20 mi), per US Census Bureau estimates.
What a personal loan costs in Halifax
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Halifax
The sourced rows below are the rules a licensed lender must follow when lending in Virginia, and therefore in Halifax.
| 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 Halifax
The order below is a sensible way to approach a loan in Halifax:
- 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.