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Applying for Payday Loans in Virginia

What is a Payday Loan?  

A payday loan or payday advance is a small financial loan; typically up to $1000, that can be used to help resolve short term financial emergencies. Payday loans can be an excellent short term source of emergency funds, but the loan needs to be repaid when you get your next paycheck.  The loan payment date will be clearly spelled out in the signed loan agreement.  

What is the APR?

We are not the lender. Only your lender can provide you with information about your specific loan terms and APR and the implications for non-payment of your loan. The terms of the loan will be clearly spelled out in your loan agreement, please review the loan agreement and related documents before signing.  If you do not find the terms of the loan acceptable, you can refuse to sign the loan agreement.  You are under no obligation until you sign the loan agreement. Ask your lender for their current rates and charges and their policies for non-payment.

Our lenders may offer you a loan with an APR between: 200% and 2281%. Loans on the lower end of the APR range may be for a larger loan amount and for a longer term. Loans on the higher end of the APR range may be for a smaller loan amount and for a shorter term. Depending on your credit needs and desire to pay your loan off quickly, your lender may only offer you loans with an APR near the high end of the range displayed.  

What if I don't pay (implication of non & late payment)?

If you do not pay your loan according to its terms, your lender may: 
-Charge you late fees
-Send your account to a collection agency
-Report your information to a consumer reporting agency, which may negatively affect your credit score
-Offer to renew, extend or refinance your loan, which may cause you to incur additional fees, charges and interest

More on payday loans in Virginia

It is not hard to find companies that offer payday loans in Virginia, especially if one uses a service such as Bridge Payday Loan.  Bridge Payday Loan networks with over two hundred payday lenders and will connect a person to the lender that can best suit his or her needs.  Taking out a payday loan has never been easier, but one should realize that there are terms and conditions involved in getting such a loan.  

State Laws

Virginia law stipulates that a lender is not allowed to loan out more than $500 at a time to a single borrower.  Furthermore, a lender is prohibited from extending or renewing a loan that has been made. Lenders are allowed to to charge up to 15% in interest rates and an additional fee if one does not pay the money back on time and in full.  A borrower has at least 7 days to pay the money back, although many lenders provide a longer repayment period.  The borrower will want to fully read the loan agreement as that will clearly outline the interest rate, fees, and repayment schedule.  

How Much Can One Borrow?

As was noted above, one cannot borrow more than $500 at a time. However, this does not mean that one will automatically be entitled to a loan of $500 simply because he or she applies for it.  There are various factors that most lenders will consider before giving out a payday loan. These include how long the borrower has been employed, how much money one makes per month and a person's previous history with payday loans.

Requirements for Taking out a Payday Loan

A person who wants to take out a payday loan will usually need to be a citizen of the United States.  Furthermore, one will need to be of legal age, have a bank account and have regular income coming in. 

In order to take out a payday loan, a person will simply need to fill out an application online and send it in. The application should include the information listed above, as well as personal information such as one's Social Security number, birth date, address, etc. If the application has been filled out properly and approved, then the loan may be granted the very next day. 

Repaying a Payday Loan

It is important to repay a payday loan on time. If one fails to do so, then the payday lender may be able to garnish one's wages in order to get the money that it is due.  It should also be note that most payday lenders charge a high penalty fee if a borrower is late in repaying a loan.

Taking out a payday loan in Virginia is not difficult.  The application can be filled out online in just minutes, after which the money is deposited into one's bank account within one business day.  However, it is important for a person to understand what taking out a payday loan entails. The requirements for taking out a loan are not hard to meet and many payday lenders have a high application approval rate.  However, a person should understand what the lender's terms and conditions are and be prepared to to meet them before sending in the application.  Bridge Payday Loan is one of the industry leaders when it comes to providing payday advances in Virginia.


Ran into some tough times with some bills, the guys and gals at Bridge Payday helped me through it.  Filled out the app and had the cash the next day. Thank You

J. Cunningham
Cocoa Beach, FL

The application took me 5 minutes to fill out (took me a minute to find my check book for my bank account routing #), and I had my approval back in about one minute.  The cash was deposited in my account the next day.  

R. Thomas
Wellington, FL

Fast application, Fast Money in our account.  Thank you.  Loved how it was all online.

M. Kingsley
Reno, NV