Online Payday Loans in South Carolina
We've all found ourselves there a couple of times, where some unforeseen cost arises be it vet bills, utility shutoff notices, or maybe an expense that we didn't remember. In these moments, you should request a payday loan in South Carolina.
The application process for a payday loan is quick and effortless. However, you do need to meet certain criteria to make sure you're eligible.
What Exactly is a Payday Loan And Why Is It Needed?
A payday loan is when someone borrows a small amount of money on a short-term basis that they're contracted to repay with their next paycheck. This kind of loan doesn't require collateral, which is why it's thought of as an unsecured personal loan.
Being able to obtain a cash advance loan will help pay for emergency expenses that occur like auto costs, medical bills, eviction notices, outstanding utility costs, and a lot more.
What Are The Requirements For Payday Loans in the State of South Carolina?
To be able to get a payday loan in South Carolina there are a handful of criteria the borrower must satisfy to qualify, like:
- Be 18+ years of age
- Be able to submit an SSN
- Show proof of South Carolina residence
- Submit proof of a stable income of at least $1,000 per month
- Provide an email address and phone number
- You may not be bankrupt or in debt
The inability to abide by the standards above will result in an automatic denial of your loan application. Always check that you have the necessary documents available when applying.
Payday Loan Rules and Regulations in South Carolina
Along with payday loans come specific rules and regulations depending on the city. We've outlined a few of these, pertaining to the state of South Carolina:
- The greatest loan amount is $500 for a single repayment and $1,000 for multiple repayments
- APR is 304%
- The state of South Carolina does not allow rollovers meaning the loans need to be repaid within the due time frame
There are specific time frames for one-time payment loans and multiple installment loans.
- The borrower has seven days to remit payment for a single-payment loan
- For multiple installment loans, the borrower has 60 days to pay it back
- The borrower will receive no more than 31 days to pay back a single-payment loan
- 90 days will be granted to the borrower for repayment on a multiple installment loan
Do Payday Advance Loan Lenders Review Credit History?
Lenders will complete a credit pull, but it's not the standard credit pull you may be familiar with. They will complete what's called a soft credit inquiry which reviews your basic information in addition to your entire credit history.
The soft credit inquiry won't affect your credit, while alternatively, a hard credit check will. However, this requires your permission and is typically only used for rental applications, credit cards, car loans, and more.
Can I Get a Cash Advance Loan with Dismal Credit in South Carolina?
If you're concerned due to the fact that you have poor credit; don't be! You can still be eligible for a payday advance loan with poor credit or no credit, in South Carolina. If you have proof that you can repay the loan, lenders usually aren't concerned with your credit rating.
Irregardless of if you request a loan online or at a cash advance lender storefront near you, always have your proof of steady income along with other documents proving that you're able to repay the loan. With more evidence, you increase the chances of approval.
When Will The Funds Show Up In My Account?
Generally, the majority of borrowers should expect that their money will appear in their account the following business day. However, this relies upon a couple of things like:
- When you apply
- Who your bank is
As long as you apply before 10:30 AM when you are going for a same-day payday loan in South Carolina, it will strengthen the chance that you see your cash on the same day you apply. Of course, only if you're approved.
Don't forget that banks, as well as a great deal of other businesses, close during the weekends, and on holidays. Meaning, if you apply the day before a holiday, or before the weekend, there's the likelihood that your transfer will be delayed.
Who Do You Bank With?
Something else you'll want to be mindful of is who you bank with. Financial institutions have their own procedures when it comes to releasing funds. Some may be fine releasing them the same day while others will use a 3 to 5 day holding period.
You have the option to notify your banker that you are requesting a payday advance loan so that they may be able to make an exception on when to release the funds to your checking account. If they won't make an exception, you can ask them what their policy is so that you're informed.
Cash Advance Application Process In the State of South Carolina
The payday loan application process in South Carolina is simple. It doesn't matter if you have no credit or even lackluster credit, you can still be eligible. You don't need to venture out if you want to apply through us online. Or, you can locate your closest lender's storefront.
Either way, whatever you pick, all you need is your basic information such as your email address, phone number, social security number, etc.
If you want to go to your local lender at their business building, be sure you have your government ID or passport to verify your identity. They may also want verification of address to verify you live in South Carolina, as well as verification of income.
Consider Working With Us
We are an online service that offers payday advance loan applications online in the State of South Carolina. We are working closely with hundreds of direct lenders who also provide services online. Plan to receive your cash by the next business day.
Alternatively, you can always find the closest payday advance loan storefront and apply there. This may boost the likelihood that you see your deposit on the same business day provided that you apply prior to 10:30 AM.
To find a payday loan storefront close to you, locate your city on the list below:
If you need cash as soon as possible, consider applying in person instead of online. If approved, you will get your money almost immediately. Please find the list of cities in California to find the nearest payday loan storefront.