Richwood at a glance
- Population: 1,623, the 65th-largest community in West Virginia out of 230 (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,664 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 2.5% lower than the 2020 Census base (US Census Bureau).
- Rank among West Virginia places: 65th by size among 230 communities (US Census Bureau).
- Size percentile: roughly 72% of places in West Virginia rank below it by population (US Census Bureau).
- Coordinates: 38.2224, -80.5380 (US Census Bureau Gazetteer).
- Nearest larger cities: Summersville, WV (17 mi); Lewisburg, WV (29 mi); White Sulphur Springs, WV (32 mi); Fayetteville, WV (33 mi); Oak Hill, WV (38 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Camden-on-Gauley, WV (11 mi); Cowen, WV (13 mi); Quinwood, WV (15 mi) (US Census Bureau).
What a personal loan costs in Richwood
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
West Virginia lending rules that apply in Richwood
Each row below is a West Virginia rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Traditional payday lending is generally prohibited; check cashers are regulated under W. Va. Code ch. 32A Source says: Traditional "Payday Lenders" are generally prohibited within this state. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated consumer lender license required from the Commissioner (W. Va. Code § 46A-4-101) Source says: Unless a person has first obtained a license from the commissioner authorizing the person to make regulated consumer loans | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
| State lending regulator | West Virginia Division of Financial Institutions (WV DFI) Source says: The West Virginia Division of Financial Institutions is charged with the regulation and supervision of financial institutions chartered by the State of West Virginia. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 31% per year on unsecured loans of $3,500 or less; 27% on $3,500–$15,000; 18% above $15,000 (W. Va. Code § 46A-4-107) Source says: the loan finance charge, calculated according to the actuarial method, may not exceed 31 percent per year | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
How to compare offers in Richwood
A few practical steps will make the process in Richwood less costly:
- 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 West Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.