Ridgeway at a glance
- Population: about 737 residents, ranking 151st of 227 Census places in Virginia (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 755 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population fell about 2.4% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Virginia places: 151st largest of 227 (US Census Bureau).
- Size percentile: about 33% of Virginia's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 36.5782, -79.8583.
- Nearest larger cities (within 120 miles): Martinsville, VA (7 mi); Stoneville, NC (8 mi); Eden, NC (8 mi); Mayodan, NC (12 mi); Wentworth, NC (13 mi) (US Census Bureau populations).
- Smaller towns nearby: Danbury, NC (23 mi); Ossipee, NC (34 mi); Floyd, VA (34 mi) (US Census Bureau).
What a personal loan costs in Ridgeway
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Virginia lending rules that apply in Ridgeway
Each row below is a Virginia rule with its publisher and the date it was retrieved.
| 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 to compare offers in Ridgeway
Before you share your details with a lender in Ridgeway:
- 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 Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.