Legal Status: Legal
Citation: S.C. Code $sect;§ 34-39-110 et seq.
South Carolina State Licensed Online Lenders:
Maximum Loan Amount: $550
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of principal
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%
Collection Fees:Lesser of: NSF fee of $10 or actual charge
Criminal Action: Prohibited
Regulator: South Carolina State Board of Financial Institutions
Address: Consumer Finance Division, P.O. Box 11905 Columbia SC 29211
South Carolina Department of Consumer Affairs
Deferred Presentment Services
The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.
|Borrowed Amount||Loan Period||Monthly Payments||Total Payable Amount|
* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.