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Find the Best Personal Loans in Richmond, VA

Many Richmond locals use personal loans to fund major life events or unexpected expenses. The Richmond Times-Dispatch has partnered with ConsumerAffairs to create this guide by comparing customer reviews, loan amounts and local availability of more than 18 businesses and choosing eight favorites from the top personal loan companies in Richmond.

Companies pay ConsumerAffairs to be authorized, and the Richmond Times-Dispatch and/or ConsumerAffairs may receive compensation when you click a link, call a number or fill out a form on this site.

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Compare Richmond Personal Loan Companies

Choosing a personal loan company in Richmond

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People use personal loans for emergency costs and life improvements in equal measure. The most common reasons for borrowing include home upgrades, major purchases, medical bills, small business funding, travel and debt consolidation.

From small loans of $1,000 to amounts as high as $100,000, there are personal loan options for every situation. With this variety of personal loan options to choose from, it can be overwhelming and time-consuming to compare different lenders and loan features.

Before choosing a personal loan company, make sure you know about its credit score requirements. As a general rule, you need a score of 580 or higher to qualify for a personal loan.

If you need cash quickly, look for lenders offering same-day funding. Otherwise, it may take two to four business days before you receive your funds.

Personal loan costs in Richmond

The cost of your personal loan depends on your APR and your loan term length:

  • APRs for most personal loans range from 5% to 36%, depending on your credit score, income and other debt obligations. If you have to take out a loan with a higher interest rate, make sure the repayment term is short and you have a solid plan for paying it off.
  • Most personal loan terms range from 12 to 72 months. The exact loan term you qualify for depends on your credit history, and each lender has different credit score requirements.

While your monthly payments are lower with a longer term, you pay significantly more in the long run.

Richmond personal loans FAQ

What's the minimum credit score for a personal loan?

Most lenders in Richmond have a minimum credit score requirement of 580. However, you may be able to find a lender who accepts lower.

Can you get a personal loan with a credit score of 550?

It’s possible to qualify for a loan with a 550 credit score, but expect limited options and higher interest rates.

What should I look for when getting a personal loan?

When evaluating personal loans, consider the APR, term length and maximum loan amount available to you. You also want to check the lender’s reputation by reading reviews from other consumers.

Is it a good idea to take out a personal loan?

As long as you have a concrete plan for repaying the loan, a personal loan is a good option for funding major life changes. Carefully evaluate your interest rate and minimum monthly payment to ensure your personal loan fits your budget before you accept it.

Does a personal loan hurt your credit?

Taking a personal loan should not hurt your credit. In fact, a healthy loan account with on-time payments actually strengthens your credit history.

Should I take a personal loan to pay off credit cards?

If you get a lower interest rate on a personal loan than your credit card, consolidating your debt can save you money every month. This is one of the most common uses for personal loans in Richmond.

Can you pay off a personal loan early?

Most lenders don’t charge early repayment penalties, so you can usually pay off your personal loan early. Check with your lender to be sure.

Does paying off a personal loan early help your credit?

While paying off your loan early doesn’t help or hurt your credit score, it’s beneficial to keep the loan open as long as you’re making payments on time. This consistency strengthens your credit history over time.

Richmond personal loan company information

Personal Loan Pro

Personal Loan Pro is an online marketplace that you can use to search for and compare personal loans. You can find loans up to $50,000 and use them for a variety of purposes, from going on vacation to buying a car. Its online survey matches you with the best loans for your needs. Personal Loan Pro is a free service, and it does not affect your credit.

Personal Loan Pro


NetCredit offers personal loans and lines of credit of up to $10,000 for qualified applicants in Richmond. Depending on your credit history, expect your APR to be between 34% and 155%, with loan terms of six to 60 months. NetCredit typically deposits funds by the next business day.

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Avio Credit

Avio Credit is an online lender providing personal loans and lines of credit for up to $5,000. All loan offers are good for 30 days, and borrowers typically receive their funds in one to two business days. Avio Credit offers convenient online repayment options.

Avio Credit


OppLoans is an online lender offering personal loans ranging from $500 to $4,000, with APRs from 99% to 199%. Loan terms are for up to 36 months. In Virginia, OppLoans offers personal loans through its lending partners, FinWise Bank and First Electronic Bank.

OppLoans Learn More


FreedomPlus offers personal loans and debt consolidation loans from $7,500 to $40,000. It provides same-day loan approval and deposits funds in your account within 48 hours. Loan terms range from two to five years and come with APRs of 7.99% to 29.99%. To receive a loan from FreedomPlus, you need a valid ID, verifiable income and an active checking account.


OneMain Financial

OneMain Financial offers secured and unsecured personal loans for $1,500 to $20,000. APRs range from 18% to 35.99%, with loan terms of 24 to 60 months. Get pre-approved online before visiting a branch location to complete the loan application. OneMain Financial’s address is 2710 Enterprise Parkway, Richmond, VA 23294.

OneMain Financial

Check City

Apply for a personal loan at a Check City location to receive cash in hand upon approval. Personal loans have an APR of 388% with a six-month repayment term. You need a valid ID, a checking account, proof of income and a working phone number. Its address is 2729-B W. Broad St., Richmond, VA 23220.

Check City

Call Federal Credit Union

Call Federal is a local credit union providing personal loans to qualified members. It offers flexible loan terms of up to 84 months, with rates ranging from 7.5% to 18%. Apply online or at a branch location. Its address is 6011 Staples Mill Road, Richmond, VA 23228.

Call Federal Credit Union

Wells Fargo

Wells Fargo is one of the most popular lenders in the country, offering personal loans in Virginia from $3,000 to $100,000. You may qualify for an APR as low as 5.24%, and most borrowers receive funds by the next business day. Wells Fargo’s local address is 4901 W. Broad St., Richmond, VA, 23230.

Wells Fargo