Meaning of “payday lender” in the English Dictionary

"payday lender" in Business English

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payday lendernoun [ C ]


a person or an organization that lends money to customers who must pay it back when they receive their next pay:

State law allows payday lenders to loan up to $700, with interest rates of up to 15% per $100.
payday lending
noun [ U ]

(Definition of “payday lender” from the Cambridge Business English Dictionary © Cambridge University Press)