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Just like you are with an identical twin, the state of South Carolina is constantly at competition with “You-Know-Who” directly above us. Sure, North Carolina is larger, longer and made up of a higher percentage of water (they always brag about that!), but when it comes to our respective state insects, there’s no competition! Our state insect is the Carolina mantis while “You-Know-Who” has the European honeybee — come on, we’re pretty sure mantises eat bees for breakfast! But just like identical twins, we also share a common annoyance: emergency expenses.
There are any number of reasons you might be considering taking out a loan, from a car breaking down to unexpected medical treatment. Whatever the reason, borrowing can often be the answer to solving your financial dilemmas, and in many cases an installment loan may be the best answer available.
An installment loan offers more money to borrowers than a payday loan while providing an extended period of time over which that money can be paid back. Having a longer window with which to repay your loan can be immensely helpful, in that it allows you to create a repayment plan that fits with your unique income and expenses. Activating a loan involves a simple online application process, requiring you to provide information regarding employment status and a valid bank account number. Once the loan has been approved, it will be deposited directly into your bank account.
The maximum amount for a loan, number of payments, and interest rates can vary from state to state. In South Carolina, loans can be repaid in four monthly payments, or nine bi-monthly payments, and a loan will never exceed $2,250. For example, if you take the four-month option for repayment, at a loan of $650, the Annual Percentage Rate is 449.31%. This results in a Finance Charge of $677.98, and a total amount paid of $1,327.97 at the end of the loan cycle. If you choose to repay the $650 loan in nine bi-monthly installments, the APR is 448.77%, with an FC of $676.08, and a total payment of $1,326.08.
Get up to 15% rebate on your first two installment payments with promo code INSTL15+++
These numbers are meant to serve as an example, and while they’re accurate in this case, it’s important to remember that they will change with the amount being loaned. The installment loan remains nonetheless an excellent option for those in need of a boost, allowing borrowers the freedom of choosing a loan amount and repayment schedule that works for their individual situation.
If you are currently unemployed in the “Palmetto State,” you are NOT eligible to receive a personal loan. You must meet the following requirements to prequalify: have an active checking account, have been employed for at least one month, be a U.S. citizen or permanent resident and be at least 18 years old. Want our advice? Focus on finding a job first and consider these facts when doing so:
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Ever do the Carolina shag? As our state dance, the shag is performed with a partner and consists of your legs doing convoluted kicks and fancy footwork. Speaking of convoluted, are you familiar with some of our state laws?
*CashNetUSA and third-party lender funds are generally deposited via ACH for delivery next business day if approved by 9pm CT Mon. – Thu. or by 7pm CT Sun.
**Not all loan applications or extension requests are approved. Due to state and verification requirements, not all applicants for online loans may be eligible for instant approval by CashNetUSA or third-party lenders.
***Some customers applying for payday loans or installment loans may be required to submit additional documentation due to state law and qualification criteria.
†CashNetUSA or third-party lender does not perform traditional credit checks as part of its credit transaction approval process, but does verify applicant information via national databases including, but not limited to, Clarity. If you have defaulted on past transactions, you may be declined for a cash advance from CashNetUSA.
‡Maximum funded amount for payday loans or installment loans depends on qualification criteria and state law. See Rates and Terms for details.
++Please see Rates and Terms to check the availability of online loans and extensions in your state. CashNetUSA is not a lender in all states. In some states, CashNetUSA will (i) act as a Credit Service Organization to arrange a loan between you and a third-party lender, or (ii) in Texas, act as a Credit Access Business between you and a third-party lender.
+++If you are a Payday, CSO, or CAB customer, discount will be applied to the initial loan fee, CSO fee, or CAB fee, respectively. If you are an Installment or Installment-Payday customer, the rebate shall be calculated by multiplying the percent discount by the first two scheduled installment payments of your loan. However, the rebate shall not exceed the actual amount of accrued interest paid on the Installment loan or fees paid on the Installment-Payday loan. Rebate shall be paid via bank account ACH credit upon full repayment of the loan, and is contingent upon a minimum of two installment payments made. Discount not valid for the CashNetUSA line of credit product. Promotions are not available in all states. Please see your state's Rates and Terms for additional details. Unless otherwise specified, promo codes must be entered at the time of application, can be used only once, and may not be combined with any other offers or Preferred Member benefits.
1Must be 21 years of age for Mississippi residence and 19 years of age for Alabama and Delaware residence.
Customer Notice: Payday advances should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.