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A payday loan is an
unsecured, short-term cash advance until your payday, usually under
$1000. Generally used to cover small, unexpected expenses while
avoiding costly bounced-check fees and late payment penalties. It is
also know as a cash advance loan. It is in essence your pay
check in advance without a credit check that is intended to bridge
the borrower's cash flow gap between pay days.
It can be a fast easy way to borrow money with
funds deposited directly into your checking account, or actual cash
in hand. Usually used for emergencies, bills, car and house repairs,
vacations, etc.
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