Best Payday Lenders in South Carolina

Having quick access to short-term cash can be incredibly handy in times of need. And yet, when it comes to payday loans, South Carolina residents have fewer options than other Americans. We took it upon ourselves to figure out why and to prepare a selection of the top lenders that do offer instant loans in Palmetto State. So, stick with us to know who to turn to in case of a financial emergency.

The Best Companies for South Carolina Payday Loans

CashNetUSA Logo

CashNetUSA

With CashNetUSA, money’s on the way!

If you’re looking for a well-established company with long traditions and excellent reviews, then look no further. CashNetUSA has been in business since 2004, and they’ve partnered with more than four million customers across 18 states. They offer one of the best-rated payday loans in the industry.

Available in: AL, AK, CA, FL, HI, ME, MI, MN, NV, ND, OH, OK, OR, SD, TN, TX, WY

Loan amount: $100-$1,500 for first-time customers (some states have a lower cap)

Loan term: 14-35 days

APR: Depends on the loan term (208-520%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same business day if approved

Online application: Yes

Advance America

Advance America

Money today, momentum tomorrow.

One of the industry pioneers, Advance America has been in business since 1997. With over 1,400 physical stores across the continent and millions of clients served, Advance America offers some of the top payday loans on the market. They run a full-disclosure, no-nonsense kind of business where the customer always comes first.

Available in: AL, CA, CO, DE, FL, ID, IL, IN, IA, KS, KY, LA, MI, MS, MO, NE, NV, OH, OK, RI, SC, TN, TX, UT, VA, WA, WI, WY

Loan amount: Up to $1,000 (some states have a lower cap)

Loan term: 2-4 weeks

APR: Depends on the loan term (231-495%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

ACE Cash Express Logo

ACE Cash Express

Empowering your financial success since 1968

ACE Cash Express was established in 1968 making them a household name in their niche. This company offers reliable online payday loans as well as in-store loans. Speaking of which, they run over 920 stores in 13 states. School of Ace is an interesting feature on their website that aims to help you manage your finances better.

Available in: CA, FL, ID, IN, KS, LA, MN, MO, OR, SC, TN, TX, VA

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 9-35 days

APR: Depends on the loan term (231-661%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check'n Go Logo

Check ‘n Go

Real solutions for real people

Check ’n go opened its doors to customers in 1994. Their first storefront was in Kentucky, and they’ve since expanded their business to over 20 states. This company offers quick payday loans, with interest rates that fall well within the industry average. With 26 years of experience and 1,000 stores across the US, you can’t go wrong with Check ‘n Go.

Available in: AL, CA, DE, FL, HI, ID, IL, IN, IA, KS, KY, ME, MI, MS, MO, NE, NV, ND, OH, OK, RI, SC, TN, TX, UT, WI, WY

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 10-35 days

APR: Depends on the loan term (214.68-661.80%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Speedy Cash Logo

Speedy Cash

Reset. Refocus. Restart.

Speedy Cash (or Rapid Cash in Nevada, Oregon, and Washington) is another reputable payday loans provider. They opened their first store in California back in 1997, and have been expanding ever since. Today, the company operates around 200 stores in 14 states. Speedy Cash is a member of the Online Lenders Alliance, ensuring fair treatment and adherence to a code of conduct.

Available in: AL, AK, CA, HI, LA, NV, ND, OR, TX, WA, WI, WY

Loan amount: $100-$500 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (214-460%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Lending Bear Logo

Lending Bear

Cash When You Need It, Fast & Friendly!

Lending Bear operates as a sister company to Speedy Cash — one of the lenders that pioneered this industry. Their offer includes online payday loans and in-store cash advances. Their offer includes online as well as in-store payday loans. An excellent score (4.9/5) on Google Reviews and an A+ rating on the Better Business Bureau solidifies their spot among the best payday loan brands in the US.

Loan amount range: $100 to $500

Loan term: 10 to 31 days

APR: 456% for a 14-day loan

Min. credit score: N/A

Fees: $17.5 per $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Alabama stores: 3

Online application: Yes

24/7 open: No

Amscot Cash Advance Logo

Amscot Cash Advance

You're OK With Us!

Amscot is one of the leading non-bank financial brands in Florida. The first storefront was opened in 1989 in Tampa. Among other services, they offer top-notch Florida payday loans at very competitive rates. Forbes Magazine named them one of the best midsize employers for 2017.

Loan amount range: $50 to $500

Loan term: 7 to 31 days

APR: 271% to 365% for a 14-day loan

Min. credit score: N/A

Fees: 10% of the loan amount + $2 verification fee

Approval time: Almost instant

Funds available in: Same or next business day

Number of Florida stores: 171

Online application: Yes

24/7 open: Yes, but only some locations

South Carolina Payday Loans Laws

Payday lending is legal in South Carolina and governed by the South Carolina Deferred Presentment Services (SCDPS) Act. This Act refers to payday lending services as deferred presentment services.

Payday loans have had a long history in the Palmetto State, and before the SCDPS Act was passed in 2009, over four million such loans used to be taken out every year. The Act marked the local government’s first attempt to regulate the industry.

These new rules for payday loans in South Carolina cap the amounts and impose some other restrictions on charges and rollovers. Lenders are also supposed to refer to a database for borrowers before providing a loan.

As a result, many lenders just dropped their payday loan licenses and began offering short-term supervised loans. The latter are similar to payday loans in many ways but with fewer restrictions and, hence, more predatory practices.

State Law

Payday Loan Requirements in South Carolina

Lenders can have different eligibility criteria for SC payday loans. However, meeting the following criteria should let you obtain a cash advance in South Carolina in most cases:

Most firms will ask you for a copy of a government-issued photo ID, along with your email address, phone number, Social Security number, proof of income, and a blank check or banking information.

Bad Credit Payday Loans in South Carolina

Payday loans are short-term, unsecured loans meant for people who can’t obtain funds from other sources on short notice. Satisfying the above eligibility criteria should allow you to get a payday loan in South Carolina, regardless of your credit standing.

Failing to Repay a Payday Loan in South Carolina

The state law for payday loans doesn’t allow lenders to file criminal charges against borrowers for non-repayment. Lenders, however, can file a civil suit and hire a collection agency for recovery. Firms can also inform credit reporting agencies, which will impact your credit score and make it more difficult for you to obtain a loan in the future.

Reviews of the Best Payday Loans South Carolina Has to Offer

Advance America

Advance America has been a lender in South Carolina since 1998. Over this period, it has built a network of 80 storefronts in the state, more than any other firm. It has excellent customer reviews, especially in SC, with a Trustpilot score of 4.8 out of 5. Despite being one of the most prominent payday lenders, not just in South Carolina but nationwide, it doesn’t have a BBB rating.

Pros

Cons

Lending Offer Overview

Apart from providing payday loans through its stores spread across the state, Advance America is among the few direct lenders that offer online payday loans in South Carolina. The firm also allows the convenience of applying online and picking up the money in a store.

Advance America is known for its straightforward and entirely paperless application process. Approvals are quick, and in most cases, you will get the money in your account within a few hours. Same-day funding is even available to online borrowers. In-store customers have the option to deposit money to a debit card.

On the negative side, the indicated APRs are higher than the payday loans interest rates for South Carolina. For example, the APR for $100 for 14 days is about 404%, compared to the typical rate of 390% for the state. The APRs will be lower for higher amounts and longer terms.

The firm does not indicate other charges, but since these extras are capped in SC, consumers will know the upper limit of their expense. Some potential customers may be put off because Advance America does not offer loans under $100 or terms under 14 days.

Other Features

Advance America is licensed to provide a few other services apart from the payday loans South Carolina laws allow. Customers can apply online for installment loans ($650 to $1,000) and title loans ($2,000 to $25,000). Most of its stores also offer MoneyGram money transfer services.

ACE Cash Express

ACE Cash Express was the subject of a Consumer Financial Protection Bureau action some time back because of alleged illegal debt collection tactics. Despite this, the firm boasts a top BBB rating and an excellent Trustpilot score of 4.5 based on 10,000+ customer reviews.

Pros

Cons

Lending Offer Overview

ACE Cash Express has a sizable network of 21 stores spread across the state. Unfortunately, it does not offer online payday loans in South Carolina, even though some other services are available online.

The firm’s indicated APR for a 14-day loan ranges from about 393% to 401%, with the actual rates for many customers likely to be slightly higher. ACE Cash Express, therefore, charges more expensive interests than the state average. No NSF fee is indicated, but we recommend checking with the firm regardless. There is a database transaction fee of $0.40 per loan.

The firm’s application process is quick and requires minimal paperwork. The firm may obtain information on your credit profile, but it will not affect your FICO score. Since ACE Cash Express allows only in-store applications for a cash advance in South Carolina, customers usually walk out with the borrowed funds on the same day.

A significant plus is the firm’s 72-hour satisfaction guarantee for the payday loans SC residents can get. If you change your mind, you can return the funds within three days without incurring any charges.

Other Features

ACE Cash Express offers a bunch of extra services in South Carolina. Customers can open an ACE Flare MetaBank account, get a Visa prepaid debit card, pay bills, and transfer money online and in-store. Check cashing, money orders, and ATM and tax services are for in-store customers only.

Check Into Cash

Check Into Cash is among the few SC payday loans companies with a BBB accreditation. It also has an A+ BBB rating and a high Trustpilot score of 4.5 from over 900 reviews. Customers will also like the firm’s well-designed website that offers clear information on its various services.

Pros

Cons

Lending Offer Overview

Much like ACE Cash Express, Check Into Cash does not provide online payday loans to South Carolina residents. Its presence in the state is not as widespread either, so it may not always be convenient for SC customers to use its storefront services.

That said, making a trip to a Check Into Cash is still worthwhile, as its APRs are lower than most of its top competitors. The firm’s retail fee schedule indicates an APR of 391.07% for a 14-day loan, regardless of the amount borrowed. This is about the same as the average interest rates for payday loans in the state.

Check Into Cash is also a better option if you want to borrow very small amounts, like $50 or $75. Plus, the firm works out well for those looking for legit payday loans for bad credit in South Carolina.

As is usual with in-store lending, most customers will get funds into their account the same day they apply. Potential borrowers should note, though, that Check Into Cash has slightly more stringent criteria than rivals. For instance, you need to be at least 21 years of age and have an active checking account.

Other Features

Check Into Cash offers fewer extra services in South Carolina than it does in other states. Still, there’s a lot available beyond in-store payday loans in SC. Apart from installment loans ($50 to $5,000), title loans (up to $25,000), and lines of credit, it offers check cashing, bill payments, money orders, and Western Union money transfers.

Approved Cash Advance

Approved Cash Advance is a direct lender that lacks the experience of other firms listed here. It also loses out to competitors in customer reviews, a common issue with relatively young financial services firms. However, in just a few years, this firm with an A+ rating from the BBB has built a solid reputation as a provider of South Carolina payday loans at competitive rates.

Pros

Cons

Lending Offer Overview

Approved Cash Advance has 15 stores in South Carolina and offers mainly in-store payday loans. While online applications aren’t allowed for first-time borrowers, the firm provides something called stay-at-home loans to its existing payday loan customers in the state. If you qualify, you can apply online for short-term loans similar in structure to payday loans.

The most critical issue with the firm’s offering is the lack of information on its payday loans interest rates in South Carolina. Reviews often mention that it offers very competitive rates, but there are no indicative fees for South Carolina. The firm does stress several times that it believes in disclosing all charges to customers before a contract is signed; therefore, you are likely to have a clear idea of your expenditure beforehand. If the rates seem too expensive, you can always opt for a rival.

The firm uses a simple process for the payday loans SC customers can get, ensuring same-day funding in most cases. Its website states that it uses a risk assessment firm to check if applicants are repaying their other loans regularly; however, there are no credit checks, making this firm’s cash advances a great option if you have poor credit.

Other Features

Approved Cash Advance doesn’t have the bouquet of services many other payday lenders provide. However, if you are interested in installment loans, title loans, or check-cashing services, its SC stores will prove handy.

FAQ

Are payday loans legal in SC?

Yes, payday loans in SC are legal for all state residents above 18 years of age.

Are online payday loans legal in South Carolina?

Yes, online payday loans are legal in the Palmetto State. However, due to some restrictions, most top lenders in the state limit their services to in-store payday loans or offer other types of loans online.

How many payday loans can you have in South Carolina?

Borrowers in South Carolina can have only one outstanding payday loan at a time.

What happens if I stop payment on a check with Carolina payday loans in South Carolina?

According to SC payday loans laws, criminal charges are prohibited for stopping payment for payday loans. However, lenders can try other modes of recovery. Non-repayment also negatively impacts your credit score.

Can payday loans be included in Chapter 7 in South Carolina?

Yes, payday loans are classified as unsecured personal loans, so they are dischargeable under Chapter 7 bankruptcy.

The Bottom Line

The efforts to regulate the payday loan industry in South Carolina have mainly resulted in a reduction in the firms that provide such loans. That said, there are enough trusted options for payday loans South Carolina residents can get. While any of these licensed firms should be suitable for a cash advance, we recommend some research on your end too to select the option that suits your needs best.

Always remember to borrow responsibly and never take out more cash than you can reasonably repay.

Your BalancingEverything Team

References:

MoneyLion

UStatesLoans.org

Consumer Federation of America

Advance America

ACE Cash Express

Check Into Cash

Approved Cash Advance