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Payday loan - Wikipedia

A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday." The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as ...

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The Truth About Payday Loans - Credit.com

A payday loan is a short-term, high-interest loan, generally for $500 or less, that’s designed to bridge the gap between paychecks. The quick cash infusion is nice, but when you apply for a payday loan, you may wind up getting more than you bargained for.

Payday Loans UK: are there best buys? - MoneySavingExpert

The loans are typically only supposed to last for days, or maximum of a month, for amounts of up to £1,000 or so. The stated cost can be fairly low, especially when compared to unauthorised overdraft charges.