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The term "payday" in same day payday loans (https://osclass-classifieds.a2hosted.co … ile/267426) loan refers to when a borrower writes a postdated check to the lender for the payday salary but receives part of that payday sum in immediate cash from the lender. However, in common parlance, the concept also applies regardless of whether repayment of loans is linked to a borrower's payday.

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