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What is a Payday Loan?

A payday loan is a quick form of finance that is repaid in one payment, usually on your next payday. Its principal is typically a portion of your next paycheck.

Once you're approved for a payday loan, you may receive cash or a check, or have the money deposited into your bank account. You'll then need to pay back the loan in full plus the finance charge by its due date, which is typically within 14 days or by your next paycheck.