South Carolina Charleston Bridge

Compare your loan options in South Carolina

If you’re in need of quick cash, a payday loan might be a solution

When you’re facing an unexpected bill or expense, you might be looking for a payday loan. Before you apply, be sure your lender follows the laws in South Carolina to avoid predatory lending practices.

This guide will help you determine if a payday loan is the best option for you.

CashNetUSA Loan

CashNetUSA Loan

Get a convenient payday loan, installment loan or line of credit with fast funding, depending on your state of residency.

  • Loan Amount: Varies by state
  • Turnaround Time: As soon as 1 business day
  • Simple online application
  • No hidden fees or paperwork
  • Dedicated customer service
  • Confidential and secure

    What are South Carolina’s payday loan laws?

    South Carolina Code §§ 34-39-110 et seq. regulates payday lenders and loans in the state. A lender must obtain a separate license for each of its locations. These licenses expire annually so lenders must renew each year to maintain lending privileges.

    You can borrow up to $550 for 31 days or less and may only have one loan at any given time. In addition to paying back the principal, lenders may charge up to 15% of the princpal as a financing fee. This means a 14-day $100 loan has an APR of 390% and costs $115.

    If you fail to repay your loan on time, a lender may charge you a non-sufficient funds fee.

    Consider these lenders for a short-term loan in South Carolina

    Check the websites of any providers you’re interested in to confirm they operate in South Carolina.

    Rates last updated November 20th, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
    Varies by lender
    As soon as next business day
    Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    9 to 36 months
    1 business day
    Open only to residents of AL, CA, DE, GA, KS, ID, IL, MO, MS, NV, NM, OH, SC, TN, TX, UT, VA and WI. Must have direct deposit to demonstrate sufficient monthly income.
    MoneyKey-arranged or MoneyKey Installment Loan
    *Apply for money when you need it and receive your funds in as quickly as one business day.
    $1,000 (unless otherwise stated)
    Varies by state
    1 business day*
    You must be a permanent US resident or citizen, at least 18 years old, and have regular income.
    HonestLoans Installment Loans
    Get a flexible installment loan with fast funding through one easy online application form.
    Varies by lender
    As soon as one business day
    Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
    NetCredit Installment Loan
    Build a positive credit history with on-time payments and flexible repayment terms. Check your rate without affecting your credit score.
    Varies upon state
    1-3 business days
    Must be 18+ years old, a legal resident of the US and have a Social Security number. Minimum credit score of 550.
    Blue Trust Loans Installment Loans
    Get an installment loan from an online tribal lender. Perks for returning borrowers.
    6 months
    As soon as next business day
    Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.

    Compare up to 4 providers

    How can I qualify for a payday loan?

    All lenders will require that you have a regular source of income, be a US citizen or permanent resident and be at least 18 years old. If you meet these basic qualifications, you can start the application process.

    Here are the common things you’ll need to have to fill out an application:

    • Your name, date of birth, Social Security number and a valid form of ID
    • Your residential address, email address and phone number
    • Details about your employment and income
    • If you’re applying online, details of your existing checking account

    Other options to consider

    Payday loans can be a good way to get by between paychecks, but if you find yourself facing more long-term problems, you may want to consider applying for some of the programs offered by South Carolina. Two options are the Family Independence Program and the Supplemental Nutrition Assistance Program (SNAP). These can help you manage your daily bills while you pay down your debt.

    There are also some other options before taking out a loan

    Bottom line

    When you’re dealing with an unexpected bill or payment and need a little extra help, a payday loan may be a good idea. You can apply for one online or in-store, but be sure you read the terms of your loan carefully before you apply to be sure your lender is abiding by South Carolina law.

    Do you have any more questions about payday loans in South Carolina?

    You should contact the South Carolina State Board of Financial Institutions.

    Yes. You must wait two days after your eighth loan in a calendar (12-month) year.

    You are allowed one repayment plan once every twelve months. Lenders must allow you to pay back your outstanding balance in four equal installments at no additional cost to you.

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    US Payday Loans Offers

    Learn about our information service
    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

    LendUp Payday Loans

    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Installment loans with competitive rates from a top-rated direct lender.