Payday Loan Lenders In West Virginia (WV)

At one point in life, when you find yourself in an emergency financial fix, getting a payday loan is always a good go about the situation. You can take out a payday loan or make use of a check-cashing service at a payday lender outlet.


Are Payday Loans Banned In West Virginia?

Unfortunately for West Virginia, both online payday and payday storefronts are illegal. Residents are therefore forced to be creative and use alternative methods of sorting out their financial emergencies, should any arise. These alternatives include personal loans, state aids, friends, tribal lending, and traveling to other states.

Why Are Payday Loans Banned In West Virginia?

The attorney general and governor of West Virginia felt that lenders were generally extorting borrowers by charging them unreasonably high-interest rates and fees. A law was established, Code 46A-4-107 and 32A-3-1 et.seq, to regulate lenders.

According to these laws, any lender operating in the State must offer loans at a capped APR of not more than 31% for loans of up to $2000. This APR cap does not include the origination fee, and thus, the APR may be higher than 31%. 

Taking into account that most payday lenders charge an APR of greater than 400% in other states, a 31% APR cap puts them at bay in West Virginia. The State feels that payday loans do not put consumer’s best interest into consideration. The State banned the payday loans because they often hurt the financial goals of borrowers in the long-run.

What Payday Loans Alternatives Are Available West Virginia?

The proponents of the law questioned what the residents of West Virginia would do when in dire situations such as termination in the monthly income or a financial emergency. They understood that the majority of these people fall between low to middle-class categories and, in most cases, with bad credit or no credit at all. To curb this, the State of Virginia provided several alternatives that they felt were better to the consumer, unlike the expensive payday loans.

1. Personal Loans

While this is a good option for individuals with a medium or excellent credit, some lenders don’t mind working with individuals with bad credit. You can take a personal loan, which helps you to consolidate your debts and cushions for financial emergencies.


  • Low interest
  • Decent for debt consolidation


  • Requires good credit
  • The application process takes time

2. Credit Cards

Though it’s not easy to get, once you have it, it can cater for most of your monthly expenses or transfer debts to it for better repayments.  Credit cards heavily depend on your credit rating though it’s worth a stub too. The good thing is that the State of West Virginia has also capped a 6% and 8% minimum and the maximum interest rate on credit cards, respectively.


  • Offers long term solutions
  • High convenience


  • Takes time
  • Extra fees

3. Credit Counseling

This is the most recommended on the list. When you find yourself in a financial crisis, getting help from a financial counselor is appropriate to re-evaluate your budget and start managing your situation. The counselors will set you on a path to recovery with solutions on any financial expense that may arise unexpectedly. 


  • Helps you to manage your debts


  • Does not provide instantly needed cash

4. Asking Help From Friends And Relatives

It feels embarrassing, but trust me, it’s one of the ideal alternatives to getting a payday loan. They may not offer instant cash to you, but they may give leads to people or places where you can get some money by getting something done during part-time.


  • May offer financial help
  • May provide a long-term financial solution
  • Cannot report to credit bureaus


  • In case you are unable to repay, may destroy the friendship
  • May not offer vast sums of cash

There are other alternatives that the State of West Virginia does not talk of, but they often provide help to citizens.

5. Tribal Loans

Federal laws regulate tribal lending and are mostly available online. You get a loan of $500 to $2000 with a repayment period of 6 months to two years. Tribal loans often have strict requirements for one to qualify, such as an income of over $40000 and many more.


  • Immune to state laws
  • Flexible repayment plan


  • Too many regulations
  • Some payday lenders may pose as tribal lenders

6. Payday Loans

While it seems funny, some desperate situations call for desperate mitigation. Some financial crises cannot be averted as depicted by the State. Thus, residents find it necessary to move to another state, apply for a payday loan, and get back to West Virginia.


  • Provides immediate cash


  • Additional expenses through fares
  • A limited number of lenders

How Can I Apply For A Loan In West Virginia?

There are three options when it comes to applying for a loan in this State.

  1. Apply for a credit card
  2. Apply for a payday loan from other states (you’ll need to provide proof of residence in another state)
  3. Apply for a tribal loan

To apply any of the above, you will be required to fill details such as names, email, current phone number, social security number (to verify your identity), and an address. For a tribal loan, you will have to pass the eligibility criteria, as shown below.

What Is The Eligibility To Apply For A Loan In West Virginia?

  • Must be at least 18 years of age
  • Must be US citizen or a permanent resident of US
  • Must have a checking account in his/her name
  • Must have an address

Tribal loan eligibility criteria (all the above plus the following)

  • An income of over $40000
  • Must have a government-issued ID
  • Mean indebtedness of not greater than two months

Top 5 Loan Options For West Virginia

1. Money Key

The company provides a loan of $2000 – $2600 only. Also, it has a flexible repayment plan and reasonable terms, which are hard to default. Their website is user-friendly, and their interest rates and costs are moderately priced.

  • User-friendly website
  • Flexible terms
  • Must be 18 years
  • No storefronts

2. Money Lion

MoneyLion offers a small loan of up to $500 only. The services are only available during weekdays.  It is one of the few lenders that provide personal loans in West Virginia.

  • Bad credit history
  • No weekend payouts
  • Must be 18 years or above

3. Check into Cash

Check into Cash has an extensive footprint across most American states, and West Virginia is no exception. Though they give small loans ranging from $100 – $500, it’s worthwhile.

  • Bad credit history
  • Friendly interests and costs
  • No weekend payout

4. Small-dollar Bank Loans

Most banks provide small-dollar loans in West Virginia ranging from to rescue consumers from financial constraints. The application straightforward, and approval does not take as much time.

  • Fast approval
  • Reliable
  • Fast disbursement
  • Credit matters a lot
  • Small amounts for first-timers

5. Cash Net USA

Accessible to West Virginia residents through other states, CashNetUSA is a well-established company and offers payday loans starting from $100 to $3000 with an APR of 391%.

  • Fast processing
  • Good reputation
  • Must travel to other states to access the service

Quick FAQs

Why Is Payday Lending Prohibited In West Virginia?

Payday loans were banned in West Virginia because lenders were exploiting the residents by charging them high-interest rates and additional fees.

Is Getting A Payday Loan From Another State Illegal?

No, though not advisable, it’s very legal. You will also be required to provide proof of residence in West Virginia.

What Are The Alternatives To Payday Loans In West Virginia?

Residents can use government-funded programs such as the Low Income Energy Assistance Program (LIEAP), Emergency Assistance Program, among others. Alternatively, they can use personal loans or tribal lending services.


Though payday lending is illegal in West Virginia, residents find themselves relying on the small-dollar loans from banks or small installment loans from short-term lenders. Also, in critical times they may circumvent the regulations by applying for payday loans from other states, which end up hurting them more in terms of extra spending. The laws are for sure, not serving the best interest of consumers in West Virginia.