Payday Loans

In general terms, a payday loan can be defined as a small, short-term loan (typically up to $1,500) that is intended to bridge the borrower's cashflow gap between paydays. Sometimes called a paycheck advance or even (more succintly) a cash advance, payday loans are typically given in cash secured against the borrower's post-dated check that includes the original loan principal and accrued interest.

The maturity date usually coincides with the borrower's next payday.

To find out more about payday loans and other forms of lending, have a look at the articles on this site......