Virginia Beach at a glance
- Population: 453,649 — 1st in Virginia, which has 227 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 459,476 (US Census Bureau).
- 2020 to 2023 change: a loss of about 1.3% since the 2020 count (US Census Bureau).
- Rank among Virginia places: 1st-largest of 227 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 99% of Virginia's Census places are smaller (US Census Bureau).
- Coordinates: latitude 36.7795, longitude -76.0291 (US Census Bureau Gazetteer).
- Nearest larger cities: no bigger Census place sits within 120 miles.
- Smaller towns nearby: Norfolk, VA (15 mi); Chesapeake, VA (17 mi); Portsmouth, VA (19 mi) (US Census Bureau).
What a personal loan costs in Virginia Beach
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
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.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Virginia lending rules that apply in Virginia Beach
Each row below is a Virginia rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Virginia Beach
The steps below are worth completing first when you borrow in Virginia Beach:
- 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.