Waverly at a glance
- Population: roughly 1,942 people; 100th of 227 places in Virginia (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 1,954 residents here (US Census Bureau).
- 2020 to 2023 change: down roughly 0.6% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Virginia places: 100th in population of 227 places (US Census Bureau).
- Size percentile: about 56% of Virginia's Census places are smaller (US Census Bureau).
- Coordinates: 37.0340, -77.0956 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Petersburg, VA (20 mi); Hopewell, VA (21 mi); Colonial Heights, VA (23 mi); Windsor, VA (25 mi); Franklin, VA (26 mi) (US Census Bureau).
- Nearest smaller towns: Wakefield, VA (7 mi); Dendron, VA (9 mi); Ivor, VA (14 mi) (US Census Bureau).
What a personal loan costs in Waverly
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Virginia lending rules that apply in Waverly
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Waverly
Here is a short checklist for comparing personal loans in Waverly:
- 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.