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Payday loans in South Carolina

Payday loans for bad credit in South Carolina

Payday loans are allowed in South Carolina from state-licensed lenders (Deferred Presentment Services license under S.C. Code Title 34, Chapter 39, a separate...). Here are the limits South Carolina law sets, what a typical loan can cost, and where to get free help if you need it.

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Part of the South Carolina guide

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What South Carolina law allows

Payday loans in South Carolina
ProductStatusAPR capAmountTermLicenseLaw
Payday loans[1][2] Allowed Fee cap Up to $550 Up to 31 days Deferred Presentment Services license under S.C. Code Title 34, Chapter 39, a separate... S.C. Code Ann. Section 34-39-180; Section 34-39-130
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.
The rules in full

Payday loans

Rate cap
No flat APR cap; South Carolina Deferred Presentment Services Act caps the fee instead. A licensee may not charge a fee or other consideration exceeding 15% of the principal amount of the transaction (S.C. Code 34-39-180(E)). This chapter is expressly exempt from other state interest/fee/loan-charge statutes.
Fees
Fee capped at 15% of the principal amount advanced per transaction (34-39-180(E)).
License
Deferred Presentment Services license under S.C. Code Title 34, Chapter 39, a separate license required per location.

Full detail for every loan type: South Carolina lending laws.

Money snapshot for South Carolina

South Carolina household data
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[3]$1,352FY2026
Population[4]5,478,8312024
Unemployment rate[5]4.1%2026-08

Other options in South Carolina

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Emergency loans in South Carolina: allowed under South Carolina law; see its limits and license rules.
  • Installment loans in South Carolina: allowed under South Carolina law; see its limits and license rules.
  • Personal loans in South Carolina: allowed under South Carolina law; see its limits and license rules.
  • Title loans in South Carolina: allowed under South Carolina law; see its limits and license rules.
  • Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
  • Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
  • Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
  • Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in South Carolina.

See every loan type South Carolina law allows.

Payday loans in nearby states

Sources

  1. scstatehouse.gov. S.C. Code Ann. Section 34-39-180. Retrieved September 23, 2026.
  2. consumerfinance.sc.gov. South Carolina State Board of Financial Institutions, Consumer Finance Division. Retrieved September 23, 2026.
  3. National Low Income Housing Coalition. Out of Reach 2026: South Carolina. Retrieved September 23, 2026.
  4. U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
  5. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

Important disclosures

APRs vary by lender and state in South Carolina. Each lender sets its own rates and terms and must show you the APR before you sign.

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  • Questions about a lender licensed in South Carolina? Contact the South Carolina State Board of Financial Institutions, Consumer Finance Division or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.