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: CashUSA Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $10,000
  • Turnaround Time: As early as 1 business day
  • Loan Term: 90 days to 72 months
  • Requirements: Must have a monthly income of $1,000+ after taxes and valid checking account.
  • Bad credit is OK
  • No application fee
  • Debt education resources

Our top pick: CashUSA Installment Loans

An online connection service for quick cash loans.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $10,000
  • Turnaround Time: As early as 1 business day
  • Loan Term: 90 days to 72 months
  • Requirements: Must have a monthly income of $1,000+ after taxes and valid checking account.
Promoted

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 April 22nd, 2019
Name Product Filter Values Max. Loan Amount Turnaround Time Requirements
$10,000
As early as 1 business day
Must have a monthly income of $1,000+ after taxes and valid checking account.
An online connection service for quick cash loans.
$5,000
1 business day
Must have direct deposit and meet minimum income requirements
Installment loans with competitive rates from a top-rated direct lender.
$2,600
1 to 2 business days
Must have an active checking account, regular source of income and email address.
Installment loans with repayment terms up to 30 months, depending on your state.
$1,000
1-2 business days
You must be at least 21 and an American citizen and have a bank account, email address and phone number.
With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
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.
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
1 business day
Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.
Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.

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?

    • finder 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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