Personal loans in South Carolina
Consumer lending in South Carolina is regulated by the South Carolina State Board of Financial Institutions, Consumer Finance Division. Below are the sourced rules that affect what a lender can charge you, followed by the cities we cover.
Lending rules in South Carolina
| Payday lending | Permitted and regulated — maximum loan amount: $550 exclusive of fees allowed in §34-39-180(E); maximum loan term: Not to exceed 31 days. Finance charges: A licensee shall not charge, directly or indirectly, a fee or other consideration in excess of 15% of the face amount of the checkSource: National Conference of State Legislatures · as of 2023 |
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| Small-loan / installment licensing | Consumer lenders must obtain a state license (Yes; if interest rate is greater than 12% per year). Statutory basis: S.C. Code Ann. §§ 37-3-101 et seq. Licensing administered through NMLS: Yes (effective 2/1/2020).Source: Conference of State Bank Supervisors · as of 2026 |
| Interest rate cap (usury limit) | Usury limit: 8.75 % (S.C. Code Ann. § 34-31-20 (2020)). Finance rates and fees for licensed lenders: 18% per annum. CSBS 50-state survey of consumer finance laws; state-verified usury catalog.Source: Conference of State Bank Supervisors · as of 2026 |
| Consumer lending regulator | Consumer lenders in South Carolina are licensed and supervised by the South Carolina State Board of Financial Institutions, Consumer Finance Division.Source: Conference of State Bank Supervisors · as of 2026 |
| Debt collection rules | Third-party debt collectors must comply with the federal Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq.; state consumer-protection and debt-collection enforcement is handled by the South Carolina Office of the Attorney General. The FDCPA expressly authorizes state attorneys general to enforce it (15 U.S.C. § 1692l). Some states also require collection agencies to be licensed.Source: South Carolina Office of the Attorney General · as of 2026 |
| Military lending protections | The federal Military Lending Act (MLA) caps the Military Annual Percentage Rate (MAPR) at 36% for consumer credit extended to active-duty service members, their spouses and certain dependents, and bars mandatory arbitration and prepayment penalties on covered loans. Federal protection that applies nationwide, including in this state.Source: Consumer Financial Protection Bureau · as of 2024 |
| Complaint / licensing lookup | Check whether a lender holds a state license through NMLS Consumer Access (nmlsconsumeraccess.org) or the South Carolina State Board of Financial Institutions, Consumer Finance Division; consumers can file complaints with the South Carolina State Board of Financial Institutions, Consumer Finance Division or the CFPB at consumerfinance.gov/complaint.Source: Nationwide Multistate Licensing System (NMLS) Consumer Access · as of 2026 |
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Cities in South Carolina
CharlestonColumbiaGreenvilleMyrtle BeachSpartanburgMauldinRock HillNorth CharlestonMount PleasantFlorenceAndersonSumterHilton Head IslandSummervilleGoose CreekGreerAikenBlufftonSocasteeCarolina ForestFort MillNorth AugustaTaylorsSimpsonvilleLexingtonEasleyGreenwoodConwaySt. AndrewsWade HamptonHanahanFive ForksNorth Myrtle BeachWest ColumbiaClemsonRed HillBereaSeven OaksDentsvilleGanttLadsonCayceLake WylieParkerBeaufortOrangeburgPort RoyalMoncks CornerGaffneyTega CayOak GroveJames IslandIrmoForest AcresGarden CityBoiling SpringsNewberryFountain InnRed BankLittle RiverPowdersvilleMurrells InletSangareeLaurensLugoffWoodfieldSenecaLitchfield BeachLancasterGeorgetownYorkSans SouciUnionBurtonClintonTravelers RestCamdenValley FallsHartsvilleWelcomeBennettsvilleCentervilleForestbrookHardeevilleWhite KnollHomeland ParkLake Murray of RichlandCloverMarionDillonDarlingtonLake CityLaurel BayLymanPiedmontWalterboroClemson UniversityBelvedereBatesburg-LeesvilleHollywoodChesterCentralCherawAbbevilleBlythewoodBarnwellBaxter VillageEast CamdenNewportEdgefieldBeltonIsle of PalmsSouthern ShopsBrookdaleWoodruffSurfside BeachIndia HookWalhallaMullinsWilliamstonSaxonClearwaterDuncanManningWybooNorthlakeWhitneyRidgelandHonea PathLesslieRoebuckPendletonArcadiaLibertyPickensDalzellGolden GroveDuneanKingstreeWinnsboroWellfordDenmarkSaludaHilltopArthurtownBambergGlovervilleCapitol ViewBurnettownKeowee KeyBishopvilleMcCormickCherryvaleWillistonHamptonInmanElginLakewoodPagelandAllendaleEast GaffneySpringdalePine RidgeAndrewsNorth HartsvilleGranitevilleSouth CongareeRavenelArkwrightShell PointLorisLandrumEstillNew EllentonBlacksburgNinety SixWestminsterKershawJohnstonSullivan's IslandSt. GeorgeBen AvonTimmonsvilleWatts MillsPacoletFairfaxBlackvilleGastonWinnsboro MillsSt. MatthewsEureka MillTigervilleJacksonWare ShoalsWilkinson HeightsWedgefieldEdistoCowpensRiverviewPimlicoLangleyArialKiawah IslandPrivateerVarnvilleMcCollSeabrook IslandCalhoun FallsSlater-MariettaGreat FallsCamp CroftHopkinsSouth SumterStateburgUticaMayoLattaRidgevilleAwendawReidvilleFairforestChapinMonarch MillJudsonWhitmireCatawbaConesteeJoannaSt. StephenHomewoodCity ViewChesterfieldSeabrookWagenerCane SavannahHolly HillPelzerBuffaloMurphys EstatesOlympiaIrwinBeech IslandIvaProsperitySix MileJohnsonvilleMeggettDovesvilleBranchvilleCottagevilleDunbarWest PelzerLake SecessionPelionDue WestLamarPamplicoBonneau BeachOaklandSandy SpringsFolly BeachSantee
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