PawnSmarts already knows Virginia's tiered interest rates, 30+15-day holds and 10-point records — so the right rate, the right dates and the right fields are there before you write your first ticket.
Virginia pawnbroker law is governed by Title 54.1, Chapter 40 of the Code of Virginia, which sets tiered interest by loan amount, a minimum 30-day loan term plus a 15-day grace period, detailed 10-point transaction records, and digital image capture of the customer's ID. Pawn software built for Virginia applies those rules automatically so the correct rate, dates and record fields appear before the first ticket is written. PawnSmarts arrives with all of that already set up for your shop, so you spend your day taking pawns instead of fighting a generic "one interest rate" field.
PawnSmarts is month to month at $89/month (Essential) or $129/month (Professional), with no contract and no setup fee. Prefer to own it outright? Professional is also a one-time $2,995. We migrate your existing data for you for a one-time $395 and you're live in under 24 hours.
Virginia does not use a single interest rate. Under Va. Code §54.1-4008 the rate is tiered by principal: 10% on loans of $25 or less, 7% on loans from $25.01 to $100, and 5% on loans over $100. Enter the loan amount and PawnSmarts selects the correct tier automatically — no manual rate field, no mis-keyed percentage.
| Loan Amount | Interest Rate | Example monthly interest |
|---|---|---|
| $25 or less | 10% | $20 loan = $2.00/month |
| $25.01 to $100 | 7% | $75 loan = $5.25/month |
| Over $100 | 5% | $200 loan = $10.00/month |
Virginia requires a minimum 30-day term, and the pledgor gets a 15-day grace period on top of that — 45 total days before the item can be forfeited (Va. Code §54.1-4005). PawnSmarts computes the maturity date, the grace-period end and the forfeiture date the moment you write the ticket, so you always know exactly when an item becomes eligible to sell.
Va. Code §54.1-4009 requires detailed transaction records — height, weight, date of birth, race, gender, hair color and eye color each belong in their own field, alongside ID number, address and phone. PawnSmarts gives each its own field so everything is organized and ready for a law-enforcement inspection, instead of crammed into a notes box. You can attach a digital image of the customer's government-issued ID; for the military-ID exception, capture an alternate photo or a customer photograph to satisfy the requirement.
Virginia requires each pawnbroker to post a $50,000 bond and obtain circuit court authorization before a license is issued by the county or city where the business operates (Va. Code §54.1-4001, §54.1-4003), with a felony/moral-turpitude lookback. Bonding and licensing are handled through your surety company and local circuit court. PawnSmarts handles the part that runs every day — your transaction records, 10-point customer information, digital ID capture and daily reporting under §54.1-4010.
Whether you run a single counter in a small town or a 15-employee operation in Richmond, the Virginia rules are the same and PawnSmarts handles them the same way: automatic tier selection, automatic 45-day hold math, and 10-point records that keep you ready for inspection.
See how PawnSmarts compares to other systems on our comparison page, learn the fundamentals in what is pawn shop software, or review the other states we serve.
Virginia uses a three-tier interest cap under Va. Code §54.1-4008: 10% per month on loans of $25 or less, 7% per month on loans from $25.01 to $100, and 5% per month on loans over $100. PawnSmarts selects the correct tier automatically based on the loan amount you enter.
Under Va. Code §54.1-4005, the minimum loan term is 30 days, and the pledgor has an additional 15-day grace period after maturity, so an item cannot be forfeited and sold until at least 45 days after the loan date. PawnSmarts calculates the maturity date, grace-period end and forfeiture eligibility date for every ticket.
Va. Code §54.1-4009 requires 10-point transaction records including the customer's height, weight, date of birth, race, gender, hair color, eye color, ID number, address and phone number, plus a digital image of the government-issued ID. PawnSmarts provides a dedicated field for each data point and supports digital ID capture to keep every record inspection-ready.
Yes. Virginia requires each pawnbroker to post a $50,000 bond and obtain circuit court authorization before a license is issued by the county or city where the business operates (Va. Code §54.1-4001, §54.1-4003). Bonding and licensing are handled through your surety company and local circuit court; PawnSmarts handles the daily transaction records, 10-point customer data and reporting that the statute also requires.
Pawn shop software for Virginia typically runs from about $89 to $300 or more per month depending on features. PawnSmarts is $89/month for the Essential plan or $129/month for Professional, month to month with no contract or setup fee, or a one-time $2,995 for Professional, with data migration for a one-time $395 and go-live in under 24 hours.
Open the live demo and click around. If it looks right, sign up and we'll move your data for $395.
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