Payday loans in South Carolina | finder.com
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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.

Our top pick: Jora Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $2,600
  • Turnaround Time: 1 to 2 business days
  • Loan Term: Varies
  • Requirements: Active checking account, regular source of income, email address
  • Quick application process
  • Bad credit OK
  • Financial resources

Our top pick: Jora Installment Loans

Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $2,600
  • Turnaround Time: 1 to 2 business days
  • Loan Term: Varies
  • Requirements: Active checking account, regular source of income, email address
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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 principal 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.

Updated June 16th, 2019
Name Product Filter Values Max. Loan Amount Turnaround Time Requirements
$5,000
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
$50,000
1 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.
Get a flexible installment loan with fast funding through one easy online application form.
$35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
$15,000
1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
$10,000
As early as 1 business day
$1,000+ monthly income after taxes, valid checking account
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Varies by state
1 business day
Regular source of income, bank account, US citizen or permanent resident, ages 18+
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.

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?

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2 Responses

  1. Default Gravatar
    sarakSeptember 26, 2018

    If I had a pay day loan with a lender and paid off using a payment plan can I obtain a new loan with a new lender and use a payment plan with them? Or is it only one payment plan with all lenders every 12 months?

    • Avatarfinder Customer Care
      CharisseSeptember 26, 2018Staff

      Hi Sarak,

      Thanks for reaching out to finder.

      According to South Carolina’s law on payday loans, you can only have one outstanding loan at a time. So as long as you have paid your payday loan in full, you can take out a new one with another lender. After getting a loan for the eight time in a calendar (12-month) year, you need to wait 2 days before you can get a new one.

      I hope this helps.

      Cheers,
      Charisse

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