Richlands at a glance
- Population: the Census estimates 5,095 residents, ranking 63rd of 227 places in Virginia (Vintage 2023).
- 2020 Census base: the 2020 count put the population at 5,276 (US Census Bureau).
- 2020 to 2023 change: population fell about 3.4% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Virginia places: the 63rd-largest of 227 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 72% of places in Virginia rank below it by population (US Census Bureau).
- Coordinates: 37.0880, -81.8104 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Marion, VA (24 mi); Abingdon, VA (28 mi); Bluefield, WV (35 mi); Bristol, VA (38 mi); Wytheville, VA (41 mi) (US Census Bureau).
- Smaller towns nearby: Cedar Bluff, VA (3 mi); Honaker, VA (10 mi); Saltville, VA (15 mi) (US Census Bureau).
What a personal loan costs in Richlands
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
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 Richlands
The sourced rows below are the rules a licensed lender must follow when lending in Virginia, and therefore in Richlands.
| 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 Richlands
Before you share your details with a lender in Richlands:
- 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.