Lebanon at a glance
- Population: 3,110 — 78th in Virginia, which has 227 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 3,151 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: roughly 1.3% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Virginia places: 78th-largest of 227 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 66% of Virginia's places have fewer residents (US Census Bureau).
- Coordinates: 36.8995 latitude, -82.0785 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Abingdon, VA (15 mi); Richlands, VA (20 mi); Bristol, VA (20 mi); Bristol, TN (25 mi); Norton, VA (30 mi), each a US Census place with its estimated population.
- Smaller places close by: Cleveland, VA (5 mi); Honaker, VA (10 mi); St. Paul, VA (13 mi) (US Census Bureau).
What a personal loan costs in Lebanon
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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 Lebanon
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Lebanon
These steps are the ones that most affect the offer you receive in Lebanon:
- 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.