What Are The Payday Loans Requirements In South Carolina?

August 6, 2021 | Emma Frost

payday loans requirements

South Carolina payday loans are known to be accessible and easy to acquire. But what exactly are the requirements to get one?

Getting a SC payday loan can be simple and straightforward when you’re prepared with the right documents. Payday loans requirements are only a few items that you need to satisfy to a certain standard to be eligible for a loan.

The Basic Payday Loans Requirements In South Carolina

While payday loans requirements may differ from one lender to another, with some having longer lists than others.

The following payday loans requirements are what we require at Carolina Payday Loans, Inc. You’ll notice that we keep things simple thanks to our streamlined process.

1. Be Over 18

And provide the lender with a valid government-issued ID to prove it. This is one of the payday loans requirements that are universal for every South Carolina lender, but every lender across the entire country.

Despite being simple loans, payday loans are heavily regulated, and one of those regulations deems that underage applicants aren’t eligible for approval. This is of course meant to protect minors from taking financial actions they may not understand.

And, of course, you need to provide a valid government-issued document for the loan agent you would work with so they can be able to verify your identity and legal age. This can be, but is not limited to, your driver’s license.

2. Proof Of Income

This comes in the form of preferably (but not always) your most recent pay stub. Since payday loans are unsecured loans and you’re not providing the lender with either guarantor or collateral, you can use your pay stub or proof of income to show the lender that you’re able to pay the loan off down the line.

As we said, that will usually be your most recent pay stub (it will also determine the maximum loan amount you qualify for). However, unlike bank loans, the source of your income source hardly matters – all types of incomes can be accommodated.

Proof of income is one of the payday loans requirements that may differ depending on your employment situation. While you’re usually asked to provide a pay stub, you can substitute it with a non-employed source of income if you don’t have a job – such as unemployment or welfare benefit, court-mandated compensations, pension, etc.

payday loans requirements checking bank account

3. Have An Active Checking Account In Your Name

Having a checking account in your name is another one of the payday loans requirements that you need to meet to qualify for a payday loan. It’s needed for the lender to be able to deposit the money you may qualify for into your bank account, which makes financial transactions between you and the lender simple and easy.

At Carolina Payday Loans, Inc., we ask you to provide a blank check from your checking account in your name as simple and straightforward proof of your checking account.

How To Get A Payday Loan In South Carolina?

If you’re able to meet these 3 payday loans requirements described above and have all the required items (the government-issued ID, proof of income, the blank check from an active checking account in your name), you can go ahead and get the process started from the comfort of your own home.

Here are the few steps you can follow to acquire a payday loan in less than 30 minutes:

  1. Simply fill out and submit the quick cash online form you’ll find on Carolina Payday Loans, Inc. You can also reach out to us by phone.
  2. Once you submit the form, all the required details will be sent to your preferred store location, and as soon as it gets processed (usually in just a few minutes) you’ll get a call from a loan representative.
  3. The representative will provide all the necessary information about the process, answer your questions, and set up an appointment with you to continue the process.
  4. Take the required items to the appointment with the loan representative at the closest Carolina Payday Loans, Inc. location.
  5. Once there, our loan representative will review your documents and, if you’re found to be qualified, they will guide you through the final paperwork, explain everything to you, and inform you of how much you qualify for.
  6. Once your paperwork is done, the loan will be deposited in your bank account on the same day or the following day, depending on bank delays.

This entire process usually takes less than 30 minutes, without accounting for the drive to our location. This is one of the reasons payday loans can be an option to consider when facing an emergency.

payday loans requirements and process

Submit An Online Form To Get Started Today

Payday loans requirements in South Carolina are easy to meet and accessible for the majority of people. Just make sure to get all the required items in order – and you can start the process right now!

Starting earlier in the day can help you get your loan on the very same day, and through Carolina Payday Loans, you could qualify for up to $550 in less than an hour. Submit your online form today to get started.