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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.

CashUSA Installment Loans

Our top pick: CashUSA

Need a quick cash loan as high as $10,000? This loan connection service could help.

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

    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 August 15th, 2018
    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 Max. Loan Amount Turnaround Time Requirements
    CashUSA Installment Loans
    $10,000
    As early as 1 business day
    Monthly income of $1,000+ after taxes and valid checking account.
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    $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.
    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.
    $250
    generally receive the money the next business day
    Be 18+ years of age and have a checking account that can accept electronic transfers.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    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.
    ACE Cash Express Payday Loans
    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.
    Varies by state
    Generally receive the money the next 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.
    TrustedPayDay.com Payday Loan
    Apply for a short term loan — even with poor credit — through this lending broker.
    $1,000
    As soon as the following business day
    You must be at least 18+, have a regular income and have an active open bank account.
    BadCreditLoans.com
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    Varies
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.

    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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    US Payday Loans Offers

    Important Information*
    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.

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