Petersburg at a glance
- Population: 2,268 — 54th in West Virginia, which has 230 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 2,282 (US Census Bureau).
- 2020 to 2023 change: about 0.6% below the 2020 Census base (US Census Bureau).
- Rank among West Virginia places: 54th of the state's 230 Census places (US Census Bureau).
- Size percentile: about 77% of places in West Virginia are smaller (US Census Bureau).
- Coordinates: 38.9957, -79.1277 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Moorefield, WV (10 mi); Timberville, VA (32 mi); Keyser, WV (32 mi); Broadway, VA (32 mi); Woodstock, VA (34 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Davis, WV (20 mi); Harman, WV (22 mi); Thomas, WV (22 mi), per US Census Bureau estimates.
What a personal loan costs in Petersburg
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
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.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
West Virginia lending rules that apply in Petersburg
The table carries the West Virginia rate and licensing rules that apply to consumer loans made in Petersburg.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Petersburg
These steps are the ones that most affect the offer you receive in Petersburg:
- 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.