A payday loan, in some states, is also referred to as payday advance, which is a small loan typically repaid within a single pay period but not more than one month. It is for borrowers seeking some money to cover their immediate or emergency need for funds. They are often paid back on the next payday. Payday loans are fee-based loans. You will know the exact amount of your loan fee before accepting your loan offer. The loan and fees are to be paid in full when the loan is due.
