Marion at a glance
- Population: about 5,617, 58th by size in Virginia of 227 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 5,746 residents here (US Census Bureau).
- 2020 to 2023 change: a loss of about 2.2% since the 2020 count (US Census Bureau).
- Rank among Virginia places: 58th of the state's 227 Census places (US Census Bureau).
- Size percentile: roughly 74% of places in Virginia rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 36.8374, -81.5157.
- Nearest larger cities: Wytheville, VA (25 mi); Abingdon, VA (27 mi); Bluefield, WV (34 mi); Galax, VA (35 mi); Bristol, VA (39 mi) (Census populations, approximate straight-line distance).
- Smaller places nearby: Chilhowie, VA (10 mi); Troutdale, VA (11 mi); Saltville, VA (14 mi), per US Census Bureau estimates.
What a personal loan costs in Marion
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Virginia lending rules that apply in Marion
The table lists the Virginia rules that apply to a loan made in Marion, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Marion
Here is a short checklist for comparing personal loans in Marion:
- 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.