- Payday loans in Folly Beach follow South Carolina law (S.C. Code Title 34, Chapter 39 (Deferred Presentment Services Act)).
- Borrowing $300 at the state maximum costs $45 (15% fee).
- The nearest larger city is Charleston, about 11 miles away.
Folly Beach at a glance
| Folly Beach | |
|---|---|
| Population (2024 Census estimate) | 2,084 |
| Change since 2020 | +0.4% (holding steady) |
| County | Charleston County |
| Size rank among 223 South Carolina places we cover | 111th |
| Nearest larger city | Charleston (about 11 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Charleston County | 3 |
| Other towns within 25 miles | 14 (about 485,227 residents) |
| Typical payday APR statewide (CRL 2023) | 391% |
Payday lending in Folly Beach follows South Carolina state law. Lenders that serve Folly Beach, in a store or online, must be licensed by the South Carolina State Board of Financial Institutions, Consumer Finance Division.
Credit unions near Folly Beach
No credit union has its main office in Folly Beach, but these are based elsewhere in Charleston County (NCUA, June 2026):
- South Carolina Federal Credit Union in North Charlesto (federal charter — may offer payday alternative loans (PALs))
- Latitude 32 Federal Credit Union in Charleston (federal charter — may offer payday alternative loans (PALs))
- Cpm Federal Credit Union in North Charlesto (federal charter — may offer payday alternative loans (PALs))
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
Payday loan rules that apply in Folly Beach
The main South Carolina rules for a payday loan in Folly Beach: maximum loan: $550; maximum fee: 15% of the amount advanced; loan term: up to 31 days. See the full South Carolina payday loan rules.
What a $300 loan costs in Folly Beach
The Center for Responsible Lending put the typical APR on a $400 payday loan in South Carolina at 391% (June 2023). For $300 at the state maximum, expect $45 (15% fee). Check any offer with our payday loan calculator.
Other help in Charleston County before you borrow
- Call or text 211 for help with rent, utilities and food in Charleston County.
- Ask a federal credit union about a PAL: $200–$2,000 at no more than 28% APR (how PALs work).
- Check your bank app for a small-dollar loan or early pay (bank options).
- Try a cash advance app if you have direct deposit (apps compared).
Towns near Folly Beach
- James Island · 5 mi
- Kiawah Island · 7 mi
- Sullivan's Island · 10 mi
- Charleston · 11 mi
- Mount Pleasant · 11 mi
- Seabrook Island · 14 mi
The nearest larger city is Charleston, about 11 miles away. See all 223 South Carolina cities.
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Folly Beach?
Yes. Payday loans are legal in Folly Beach under South Carolina state law, and lenders must be licensed by the South Carolina State Board of Financial Institutions, Consumer Finance Division.
How much does a payday loan cost in Folly Beach?
At South Carolina’s maximum fee, borrowing $300 costs $45 (15% fee). The typical statewide APR was 391% in 2023.
Where is the nearest credit union to Folly Beach?
No credit union is headquartered in Folly Beach, but South Carolina Federal Credit Union is based in North Charlesto, also in Charleston County.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- South Carolina Legislature — Deferred presentment (2009 Bill 87)
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary