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About Payday Loans A payday loan or paycheck advance is a small, short-term loan that is intended to cover a borrower's urgent expenses until their next payday. Typical loans are between $500 and $1000 and are usually on a 2 week term. Payday loans and cash advance provide a service that is not available from many national banks. Many banks do not offer small, short-term loans and these payday loans fill a niche in the economy. |
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