Salem at a glance
- Population: 1,482 — 71st in West Virginia, which has 230 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,525 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a decline of roughly 2.8% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among West Virginia places: 71st out of 230 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 69% of West Virginia's Census places by population (US Census Bureau).
- Coordinates: it sits at 39.2849, -80.5645 in the US Census Bureau Gazetteer.
- Nearest larger cities: Clarksburg, WV (11 mi); Stonewood, WV (14 mi); Shinnston, WV (16 mi); Bridgeport, WV (17 mi); Weston, WV (18 mi), each a US Census place with its estimated population.
- Smaller towns nearby: West Milford, WV (10 mi); West Union, WV (11 mi); Nutter Fort, WV (13 mi) (US Census Bureau).
What a personal loan costs in Salem
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 Salem
Each row below is a West Virginia rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Salem
Run through this list before signing anything in Salem:
- 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.