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What is a Payday Loan. A payday loan is a no-collateral, short-term loan. They are easy to get and provide quick cash to get you through a tight bind. Often, the terms of the loan state that repayment must happen within two to four weeks. Many people turn to the online lenders for the convenience they offer.
These loans are quick to request and usually result in a direct deposit occurring no later the next business day. Many of the online payday loans payout even faster, with money in your bank within only an hour or two.
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