Payday Loan

A payday loan is a short-term cash loan (usually between one and two weeks), issued to consumers. It is expected that the borrower will repay the loan after receiving his/her next paycheck. Unlike a traditional loan from a bank, there are no credit checks run on the applicant. Loans are usually issued in less than 24 hours, and are around $500. Payday loans can be obtained in person, via fax, or online.

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