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✓ Legal & RegulatedReviewed: Aug 2025

South CarolinaLoan Laws & Regulations

Official regulatory reference for borrowers and lenders in South Carolina. Includes permitted loan types, APR caps, lender licensing requirements, borrower rights, and government source links.

Max Loan
$550
Typical APR
390% APR
Max Term
31 days
Legal Status
Legal
Payday LoansPersonal LoansCash AdvanceInstallment LoansBad Credit LoansSame-Day LoansNo Credit Check Loans

South Carolina Lending Regulator

Primary Regulator
SC State Board of Financial Institutions
https://bfi.sc.gov/

The SC State Board of Financial Institutions oversees consumer lending in South Carolina, including licensing, enforcement, and consumer complaint resolution. Before borrowing from any lender, verify their license using the official regulator lookup tool linked above.

Regulatory Details

Detailed regulatory data for South Carolina is sourced directly from the SC State Board of Financial Institutions. For the most current requirements, visit: https://bfi.sc.gov/

Current Overview

South Carolina payday loans up to $550 for Columbia and Charleston residents. Fast same-day approval from licensed SC lenders.

Legal Status: Legal · APR Range: 390% APR · Max Amount: $550

South Carolina Lending FAQ

Are payday loans legal in South Carolina?▼
Yes. Payday loans are legal and regulated in South Carolina under the oversight of the SC State Board of Financial Institutions. Current APR range: 390% APR. Maximum loan: $550.
What is the maximum payday loan I can get in South Carolina?▼
The maximum short-term loan amount in South Carolina is $550. A $550 loan for 14 days in SC costs approximately $83 in fees. APR: 390%.
Who regulates payday lenders in South Carolina?▼
The SC State Board of Financial Institutions is the primary state regulator. You can verify any lender's license at https://bfi.sc.gov/. Unlicensed lenders operating in South Carolina are illegal — always verify before borrowing.
What are the alternatives to payday loans in South Carolina?▼
Consider credit union PAL (Payday Alternative Loan) programs, licensed personal loan lenders, or non-profit credit counseling services in South Carolina.