Definition: A payday loan is a short-term advance on your paycheck. A payday loan generally is for a modest cash advance online quantity and has a higher interest rate.
A payday loan is considered an advance on your payheck and is is cash advance on the web due on you payday, therefore the term payday or paycheck loan.
Also Recognized As: paycheck advance, paycheck loanAlternate Spellings: pay day cash advance on the web loan