50-State Financial Services Licensing Compliance Guide
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South Carolina Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in South Carolina.

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Company Licenses

South Carolina Financial Services Company Licenses

South Carolina Collection Agency License

Not required



Debt Collection Agency licensure is not required on the State level in South Carolina.

South Carolina does not currently issue licenses for collection agencies.

South Carolina Currency Exchange License

Agency:South Carolina Office of the Attorney General - Money Services Division
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$1500 application fee + $750 license/registration fee + $15 credit report fee + $36.25 background check fee + $0.25 fee per agent per year

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

Annually by December 31.

Notes:

Currency exchangers must renew their NMLS registration and, separately, renew their license.

Registration Renewal

Filing Method:

Online

Agency Fee:

State renewal, including fees, will be based on the anniversary date of initial licensure. Additional information will be provided at time of state renewal.

Due:

Biennially by the anniversary date of registration.

Notes:

Currency exchangers must renew their NMLS registration and, separately, renew their license.

South Carolina Deferred Presentment Branch License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$1500 application/investigation fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$750

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Deferred Presentment Company License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$1500 application/investigation fee + $15 credit report fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$1,500

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Level I Check Cashing Branch License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Level I Check Cashing Company License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$750 application/investigation fee + $15 credit report fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$250

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Level II Check Cashing Branch License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Level II Check Cashing Company License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$750 application/investigation fee + $15 credit report fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$250

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Money Transmitter License

Agency:South Carolina Office of the Attorney General - Money Services Division
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$1500 application fee + $750 license/registration fee + $15 credit report fee + $36.25 background check fee + $0.25 fee per agent per year

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

Annually by December 31.

Notes:

Money transmitters must renew their NMLS registration and, separately, renew their license.

Registration Renewal

Filing Method:

Online

Agency Fee:

State renewal, including fees, will be based on the anniversary date of initial licensure. Additional information will be provided at time of state renewal.

Due:

Annually by the anniversary date of registration.

Notes:

Money transmitters must renew their NMLS registration and, separately, renew their license.

South Carolina Mortgage Broker Branch License

Agency:South Carolina Department of Consumer Affairs
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$20 + $150 license/registration fee + $15 credit report fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$150

Due:

  • Annually by December 31.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Mortgage Broker License

Agency:South Carolina Department of Consumer Affairs
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 + $750 license/registration fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$550

Due:

  • Annually by December 31.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Mortgage Lender / Servicer License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$1100 + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$700

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Mortgage Lender/Servicer Branch License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$170 + $15 credit report fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$75

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Sales Finance Company License

Not required



Sales Finance Company licensure is not required on the State level in South Carolina.

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

More information: South Carolina Board of Financial Institutions - Consumer Finance Division

South Carolina Supervised Lender Branch License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$300 license fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$600

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Supervised Lender Company License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

New Application

Filing Method:

Online

Agency Fee:

$300 application fee + $15 credit report fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$600

Due:

Annually by December 31.

Supplemental Reporting

Agency Fee:

$0

Due:

Annually by April 15.

Law:

SC Code § 37-3-505

Notes:

On or before April fifteenth each year every licensee shall file with the board a composite annual report in the form prescribed by the board relating to all supervised loans made by him. The report shall include, but is not limited to, the following:

  • The total number of loans and aggregate dollar amounts made by the lender which renewed existing accounts;
  • The total number of new loans and aggregate dollar amounts made to former borrowers;
  • The total number of loans and aggregate dollar amounts made to new borrowers;
  • The total number of loans and aggregate dollar amounts which received a final entry, as provided in item 1, other than by renewal;
  • The total number of renewals in which the borrower received a cash advance which was less than ten percent of the net outstanding loan balance at the time of renewal;
  • The total number of loans and aggregate dollar amounts outstanding at the beginning of the reporting period;
  • The total number of loans and aggregate dollar amounts outstanding at the end of the reporting period;
  • The highest annual percentage rate charged by the lender on loans of various sizes; and
  • The most frequent annual percentage rate charged by the lender on loans of various sizes.

Individual Licenses

South Carolina Individual Financial Services Licenses

South Carolina Mortgage Broker Loan Originator License

Agency:South Carolina Department of Consumer Affairs

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$30 + $50 license fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

  • Annually by December 31.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Mortgage Broker Qualified Loan Originator License

Agency:South Carolina Department of Consumer Affairs

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$30 + $100 license fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

  • Annually by December 31.
  • Licenses issued in November or December remain valid through the next renewal period.

South Carolina Mortgage Loan Originator License

Agency:South Carolina Board of Financial Institutions - Consumer Finance Division

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$80 + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Explore licensing in other states:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho
Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri
Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania
Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Revised April 19, 2024. Complete data last reviewed January 08, 2019.
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