The state of South Carolina has a relatively low maximum payday loan amount $300. This is due to payday loan laws and regulations put in place to protect consumers. Some states have had significant problems with borrowers becoming stuck in a never ending loop of borrowing that ends up having a dramatic negative effect on their finances. This state and many others have opposed many limits help protect borrowers from being part of this cycle. By having a low maximum loan amount, it’s easier for borrowers to pay back their loans on time.
A typical payday loan in South Carolina will be subject to fees of 15% of the total loan amount and are usually repaid within 14 to 31 days, whenever your next payday is.
South Carolina Pay Day Loan Laws
Maximum Loan Amount: $300.00
Maximum Interest Rate: 15% of the loan amount, or $15. per $100 of the loan
Annual Percentage Rate: 390% on a 14-day, $100. loan
Minimum Payoff Time: not specified
Maximum Payoff Time: 31 days
Extensions Allowed: South Carolina does not allow extensions or rollovers on pay day loans
Top 5 South Carolina Pay Day Loan Companies
1531 Broad River Rd.
Columbia, SC
(803) 750-5750
advanceamerica.net
Advance America is a popular cash advance company that operates all over the United States and also has a very informative website. This company allows you to apply in person or online so you can use their payday loan services even if you are unable to travel to one of their physical locations easily. To qualify for a loan here, you’ll need to have a checking account in good standing, a valid ID, proof of residency and a verifiable monthly income.
2324 Taylor Avenue
Columbia, SC
(803) 988-7021
acecashexpress.com
ACE Cash Express stores are common sights in most medium to large cities. In South Carolina, you can find a dozen stores scattered around the state and you’ve probably driven by one at least once. This company offers short-term payday loans as well as longer installment loans as long as you meet their requirements. You can visit this company’s offices or choose to use their website to complete the application process and find out if you qualify for a loan. If you do, you can have the money in your account within one business day.
4421 Devine Street
Columbia, SC
(803) 782-0146
carolinapaydayloans.com
Carolina Payday Loans offers South Carolina residents short term payday loans between $100 and $300. This company offers extremely friendly customer service by phone or online to help you get the cash you need to handle any kind of situation. If you choose to use their website to fill out the application, whether customer service representatives will call you back right away to help you decide on how much you need.
4701 Devine Street
Columbia, SC
(803) 743-0034
expresscheckadvance.com
Express Check Advance is a payday loan and personal financial service company that puts individuals ahead of numbers. This entire corporation is based on a unique moral code that isn’t something you typically associate with a payday loan company. This company wants to make sure you are able to take care of your family between paydays were when life hits you with a surprise financial burden.
6432 Two Notch Rd # C
Columbia, SC
(803) 333-0948
approvedcashadvance.com
Approved Cash Advance has been in business since 2004 and in just seven years has been able to open 200 locations in seven different states. This company believes that their staff and customers need to have mutual trust and respect to be able to function properly. In the state of South Carolina, you can use this company to get short-term payday loans up to $300 only. The official website has numerous articles available on how to decrease spending, budget better, and repair your credit.