Payday Loan Rules by State: Texas, Rhode Island & South Carolina
Elite Payday Loans operates storefronts in three states — Texas, Rhode Island, and South Carolina — and each one sets its own rules for how much you can borrow, how long you have to repay, and what a lender has to tell you before you sign. This page lines those rules up side by side, then covers what’s the same no matter which store you walk into: what to bring, what happens once you’re in branch, and where to find your specific city.
Where a table cell below shows a dash instead of a number, it means we don’t yet have a source we can point to for that figure in that state — we’d rather show nothing than guess on a number that affects what you pay. Follow the link on the dash to that state’s full rules page for what’s actually known.
Payday Loan Rules Compared: TX vs. RI vs. SC
The table below lines up the three states we serve on the terms that matter most: how much you can borrow, how long you have to repay, and what state law requires of the lender. Every figure is sourced to that state’s payday lending statute and dated below.
| Texas | Rhode Island | South Carolina | |
| Max APR | No state APR cap | — | 391% (computed) — assumes a 14-day term (see note below) |
| Max loan amount | — | $500 | $550 |
| Max loan term | — | 13 days (statutory minimum) | 31 days (statutory maximum) |
| Rollovers allowed | — | — | No |
| Extended payment plan | — | — | Yes — 1×/year, 28 days minimum term |
| State loan database required | — | — | Yes |
| Lender license required | Yes | Yes | Yes |
| Governing statute | — | R.I. Gen. Laws § 19-14.4-5.1 | S.C. Code Ann. § 34-39-110 et seq. |
South Carolina’s 391% figure is computed, not a rate printed in the statute — it assumes the shortest allowed term, 14 days, on a loan near the $550 cap. The same law caps the fee at 15% of principal and lets terms run up to 31 days (S.C. Code Ann. § 34-39-180); stretch that same loan to the full 31 days and the equivalent APR works out closer to 177%. Ask your lender which term applies before you sign — a 14-day loan and a 31-day loan carry very different real costs under the same fee cap.
Rhode Island’s 13-day figure above is a statutory minimum term, not a maximum — the law sets a floor, not a ceiling, on how long a loan can run. Rhode Island’s governing statute, R.I. Gen. Laws § 19-14.4-5.1, is scheduled for repeal effective January 1, 2027 (P.L. 2025 ch. 373 § 5; ch. 391 § 5). Rhode Island is our largest market by store count, so if you’re borrowing there before that date, confirm current terms with the store directly — rules in transition can move faster than any page can track them.
Figures above were last verified against primary statute text on 2026-07-31.
What This Actually Means for Borrowers
Texas is the only one of the three states with no statutory ceiling on what a payday lender can charge. Loans there run through the Credit Access Business model, where a licensed broker arranges credit and charges a fee state law doesn’t cap. That doesn’t mean anything goes — some Texas cities layer their own ordinances on top of state law, and your lender still has to hold a license and show you the total cost before you sign. See the Texas rules page for what applies in your city.
Rhode Island and South Carolina take the opposite approach: both cap the loan amount and build the fee as a share of principal, but the numbers aren’t directly comparable. Rhode Island’s $500 cap runs against a 13-day minimum term, and this page doesn’t publish an APR for Rhode Island — an earlier figure was retracted network-wide because it had no source we could point to, and we’re not willing to guess at a replacement. South Carolina’s $550 cap comes with a 391% figure that only holds at the shortest allowed term, as explained above.
South Carolina is also the only one of the three with borrower protections that reach into how a loan can be renewed: no rollovers, a required extended payment plan option, and a state loan database lenders must check before approving a new loan. Texas and Rhode Island may or may not have equivalents — we haven’t verified either state’s rollover rules against primary statute text yet, so this page states one only where it’s confirmed rather than assuming the states line up.
Before You Visit a Store
What you’ll need is the same at every Elite Payday Loans location, regardless of state. Bring these and your visit moves faster:
- A government-issued photo ID
- Proof of steady income, such as a recent pay stub or bank statement
- An active checking account in your name
- Your Social Security number
- A working phone number where we can reach you
- A recent utility bill or lease if we need to confirm your address
How much you’re offered depends on your income, the store’s own underwriting, and the cap that applies in your state — the table above shows what state law allows, not what any specific applicant will be approved for.
What Happens in Branch
A store visit follows the same shape everywhere we operate. Staff verify your ID and income documents, confirm your checking account, and walk through a loan agreement that spells out the fee, the total amount due, and the exact date payment is due. Read that agreement before you sign it — the fee schedule and due date should be in writing, not just spoken.
If anything in the paperwork doesn’t match what you were told at the counter, ask before signing. Every store is licensed under its state’s payday lending law, and that license can be verified through the state regulator listed on that state’s rules page.
Find Your State
Texas Stores
Rhode Island Stores
- West Warwick
- Warren
- East Providence
- Providence
- Newport
- Narragansett
- North Kingstown
- Smithfield
- Coventry
- Westerly
- Woonsocket
South Carolina Stores
Where We Don’t Operate Yet
Elite Payday Loans currently runs storefronts only in the cities listed above, across Texas, Rhode Island, and South Carolina. If your state or city isn’t on this page, we don’t have a licensed location there yet — check back, or visit the state page for the closest state we do serve.
