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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). 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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Last updated .

Part of the South Carolina guide

What South Carolina law allows

Payday loans in South Carolina
ProductStatusAPR capAmountTermLicenseLaw
Payday loans[1][2] AllowedHigh-cost loan Fee cap Up to $550 Up to 31 days Deferred Presentment Services license 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.

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Rent and jobs in South Carolina

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in South Carolina
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[3]$1,352FY2026
Unemployment rate[4]4.1%2026-08

Other options in South Carolina

Cheaper options to try first

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

  • Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
  • Nonprofit credit counseling through the National Foundation for Credit Counseling.
  • A payment plan from the company you owe, if you ask before you miss a payment.
  • 211 for help with rent, utilities and food: call 211 or visit 211.org.

More cheaper options in South Carolina.

Other loan types allowed 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. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

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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.