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That convenience is a 40 billion-per-year industry in the United States [source: Kirchoff]. This is the industry of payday lendingand it's served by more than 22,000 locations nationwide. In this article, we'll learn about the purpose of payday loans, as well as the drawbacks of these quick-cash offers.
How Do Loans Work. About Payday Loans. What is a payday loan and how does it work. Payday loans are short-term loans designed to help you pay for immediate expenses. The loan balance is due in full on your next payday.
If you need average credit personal loans cash and you have a steady source of income, a payday loan could be an option for you. Payday loans can help you cover overdue utility bills, unexpected car repairs and other emergency expenses.
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