Montgomery at a glance
- Population: the Census estimates 1,224 residents, ranking 90th of 230 places in West Virginia (Vintage 2023).
- 2020 Census base: 1,275 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a decline of roughly 4.0% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among West Virginia places: 90th of the state's 230 Census places (US Census Bureau).
- Size percentile: larger than about 61% of the Census places in West Virginia (US Census Bureau).
- Coordinates: mapped at 38.1734, -81.3197 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Ansted, WV (12 mi); Chesapeake, WV (12 mi); Fayetteville, WV (14 mi); Marmet, WV (15 mi); Oak Hill, WV (16 mi) (US Census Bureau).
- Smaller places close by: Smithers, WV (1 mi); Handley, WV (3 mi); Pratt, WV (4 mi) (US Census Bureau).
What a personal loan costs in Montgomery
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
West Virginia lending rules that apply in Montgomery
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Regulated consumer lender license required from the Commissioner (W. Va. Code § 46A-4-101) Source says: Unless a person has first obtained a license from the commissioner authorizing the person to make regulated consumer loans | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
| State lending regulator | West Virginia Division of Financial Institutions (WV DFI) Source says: The West Virginia Division of Financial Institutions is charged with the regulation and supervision of financial institutions chartered by the State of West Virginia. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 31% per year on unsecured loans of $3,500 or less; 27% on $3,500–$15,000; 18% above $15,000 (W. Va. Code § 46A-4-107) Source says: the loan finance charge, calculated according to the actuarial method, may not exceed 31 percent per year | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
| Payday lending status | Traditional payday lending is generally prohibited; check cashers are regulated under W. Va. Code ch. 32A Source says: Traditional "Payday Lenders" are generally prohibited within this state. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
How to compare offers in Montgomery
Before you commit to a personal loan in Montgomery, work through these steps:
- 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 West Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.