MCA debt in South Carolina
Small businesses carry the South Carolina economy: roughly 530,400 of them employ about 43% of the state's workers, per the SBA's 2025 state profile. The biggest small-business employers are in restaurants, retail and construction, where card-split and daily-ACH advances are widespread.
South Carolina MCA law: what actually protects you
Do funders have to disclose the cost?
South Carolina has not enacted an MCA disclosure law. A 2025 bill (S. 347) would have required disclosures and banned broker advance fees, but it did not advance.
Can a funder get a judgment without a lawsuit?
South Carolina allows confessions of judgment based on the defendant's sworn statement of the amount and facts, including for debts "to become due" (S.C. Code § 15-35-350). Take any confession in an MCA seriously.
Interest-rate limits
South Carolina doesn't impose a general cap on agreed commercial rates, so MCA disputes usually turn on reconciliation and the New York law most contracts choose.
What this means for South Carolina owners
Because South Carolina still allows confessions of judgment, a funder may be able to get a judgment quickly if you signed one. Find out before you miss a payment, not after. On the rate side, South Carolina law gives business borrowers little usury protection, so your leverage is more likely to come from the reconciliation clause, documentation of your revenue and a clear plan for each funder.
If you're behind on an MCA in South Carolina
- Look for a sworn confession statement in your closing documents.
- Restaurants and hospitality: see how split-funding MCAs work and our food service page.
- Retailers: see our retail page on seasonal swings and fixed daily debits.
- Calculate the true cost. Our factor rate to APR guide shows how.
- Request reconciliation in writing if revenue has dropped. See the reconciliation clause guide.
How we help South Carolina owners
Renaissance Capital Advisors works with South Carolina business owners remotely. We start with a free 30-minute review, then map what each funder has collected and is owed and set out your realistic options in writing: reconciliation, renegotiation, refinancing, settlement through a licensed provider, or attorney review. We charge a flat fee and earn nothing more whichever path you choose.
Start with our MCA debt relief consulting overview, or see MCA debt help in other states.
We work with owners throughout South Carolina, including Charleston, Columbia, Greenville–Spartanburg, Rock Hill and Myrtle Beach.
Frequently asked questions
Renaissance Capital Advisors provides strategic consulting and referral services only. We are not licensed attorneys, CPAs, financial advisors, or a debt settlement company. Regulated debt-resolution work is performed by appropriately licensed third parties. Nothing on this page constitutes legal, tax, accounting, or financial advice. Consult a licensed professional before making binding decisions.