(A) A loan is considered a contribution from the maker or the guarantors of the loan and is subject to the contribution limitations of this article. (B) A loan to a candidate must be by written agreement. (C) The proceeds of a loan made to a candidate under the following conditions are not subject to the contribution limits of this article: (1) by a commercial lending institution; (2) in the regular course of business; (3) on the same terms ordinarily available to members of the public; and (4) secured or guaranteed upon which collection is not made.
Loans to candidates considered contributions; limitations; exceptions
S.C. Code Ann. § 8-13-1326, under Title 8, Chapter 13.
S.C. Code Ann. § 8-13-1326