Personal loans in Montross, VA

With about 340 residents, Montross ranks 186th by population among the 227 Census places in Virginia. Its population grew about 2.1% between the 2020 Census base and the 2023 estimate. If you are shopping for a personal loan in Montross, the rules that govern the loan are Virginia's statewide consumer-lending statutes, and the nearest larger metro is Warsaw, VA about 10 miles away.

By the Loansloth Editorial Team · Last updated 2026-09-16

What is specific to borrowing in Montross

Population: 340 (US Census Bureau, Vintage 2023 subcounty estimate) — the 186th-largest place of 227 in Virginia.
Population trend: Its population grew about 2.1% between the 2020 Census base and the 2023 estimate.
Size percentile: larger than about 18% of the Census places in Virginia.
Location: 38.0924, -76.8159 (US Census Bureau Gazetteer).
Nearest larger cities: Warsaw (10 mi); Tappahannock (13 mi); Colonial Beach (15 mi); Leonardtown (17 mi); Bowling Green (29 mi). Larger metros often have more walk-in branches, but online lenders serve Montross on the same terms.
Nearest smaller towns: Port Royal (21 mi); Port Tobacco Village (31 mi); Eagle Harbor (34 mi).

Virginia lending rules that apply in Montross

Rule	Detail	Source
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
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

How a personal loan works in Montross

Most loans offered to Montross residents are unsecured, meaning no collateral is pledged and the lender relies on your credit history instead. That is why the quoted APR moves so much with your credit score: a borrower with excellent credit may see a single-digit APR, while a borrower with damaged credit may see rates in the high twenties or thirties. Checking your credit report before you apply — and disputing any error — is the highest-leverage step you can take.

Before you apply in Montross

Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
Run the numbers with our personal loan calculator so you know the payment before a lender tells you.
Pre-qualify with at least three lenders and compare the APR, not the interest rate.
Check the lender is licensed in Virginia using the regulator listed above.
Read the disclosure for origination fees and any prepayment penalty before you sign.

Compare personal loan offers Run the numbers first

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Frequently asked questions

Can I get a personal loan with bad credit in Montross?

Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Montross are the same as elsewhere in Virginia.

How much can I borrow with a personal loan in Montross?

Most personal loans range from about $1,000 to $50,000, but the amount you are approved for depends on the lender and your income and credit. Use our personal loan calculator to model the payment before you apply.

Does a personal loan in Montross require collateral?

Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.

Will shopping for a loan in Montross hurt my credit?

Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Warsaw, VA — population 1,673
Tappahannock, VA — population 2,187
Colonial Beach, VA — population 4,003
Leonardtown, MD — population 4,974
Port Royal, VA — population 207
Port Tobacco Village, MD — population 25
La Plata, MD — population 10,878
Eagle Harbor, MD — population 64