SpletA payday loan is a small, short-term loan that is due to be paid back (plus a flat fee) the next time you receive a paycheck. Payday Loans - also called cash advances or payday … Splet19. okt. 2024 · A payday loan is typically a short-term loan of less than $500 typically aimed at low-income individuals. Fees usually run between $10 and $30 for each $100 borrowed. If you borrowed $300, for example, you'd owe between $30 and $90 in fees. Borrowers write a check for the amount of the loan, plus fees, to the lender dated for their next payday.
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