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The Official Web Site of the State of South Carolina

Consumer Lending

The Consumer Finance Division (CFD) licenses and regulates the business activities of all companies, excluding depository institutions or insurance companies, that make consumer loans which have annual percentage rates exceeding 12% and are not secured by real property or a residential dwelling.

Entities that are involved solely in retail sales agreement transactions are not required to be licensed by the CFD.

If a website will be used to make supervised loans or process payments electronically for supervised loans, a separate license will be required in addition to the license for the home office. A separate application and fee will be required for each website.

Licenses are issued and regulated pursuant to The South Carolina Consumer Protection CodeTitle 37, and, in some instances, The Consumer Finance ActTitle 34 Chapter 29.

 

Consumer Lending Applications, Instructions and Forms