Payday & Cash Loans

A payday loan (also called a paycheck advance or payday advance) is a small, shortterm loan that is intended to cover a borrower's expenses until his or her next payday. The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card. The number of payday loans has grown in the UK recently: between August 2007 and June 2008, the number of loans made grew by more than 130% and is still on the increase.