Single-payment payday advances were replaced with 36%-capped installment loans.
What a Cash Advance Costs in Virginia
Virginia restructured its short-term lending law to eliminate single-payment payday-style cash advances, replacing them with installment loans capped at 36% APR.
Loan Size, Term, and Renewal Rules
That shift means a Virginia cash advance today looks structurally different — spread across multiple payments — than the lump-sum product common elsewhere.
| Factor | Rule |
|---|---|
| Product structure | Installment, not single-payment |
| Rate cap | 36% APR |
Verify current rules with the Virginia Bureau of Financial Institutions before applying with any lender — this summary is for general information only, not legal advice.
Comparing Your Options in Virginia
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