A loan that is payday that might be known as a “cash advance” or “check loan” – is really a short-term loan, generally speaking for $500 or less, this is certainly typically due on your own next payday.
Pay day loans generally speaking have actually three features:
Other loan features may differ. As an example, pay day loans in many cases are organized become repaid in a single payment that is lump-sum but interest-only re re payments – «renewals» or “rollovers” – are not uncommon.