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Payday loan: A payday loan, also called a cash advance, is a short-term, small dollar (under $1,000) loan that is unsecured and has a very short term; usually 30 days or less.

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Payday loans are short-term cash loans based on a borrower's personal check, which is held for future deposit or via electronic access to the borrower's bank account.

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A payday loan is usually used to refer to a short-term loan with a term of 30 days or less - so you can repay on your next payday.

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While most payday loans come with 14-day terms, some extend longer than two weeks. However, very few payday loans carry a duration of longer than one month.

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One option is a payday loan, which is also called a cash advance loan, check advance loan, or deferred-deposit check loan.

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