payday lender Meaning in the Cambridge English Dictionary

Meaning of “payday lender” in the English Dictionary

"payday lender" in Business English

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payday lendernoun [C]

uk   us   FINANCE
a ​person or an ​organization that ​lendsmoney to ​customers who must ​pay it back when they receive their next ​pay: Statelawallowspaydaylenders to ​loan up to $700, with ​interestrates of up to 15% ​per $100.
payday lending
noun [U]
a paydaylendingcompany/​industry/​store
(Definition of payday lender from the Cambridge Business English Dictionary © Cambridge University Press)
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