payday loan

noun

plural payday loans

: a short-term high-interest loan in a relatively small sum usually intended to be repaid from the borrower's next paycheck : a loan issued by a payday lender

Payday loans involve potential financial pitfalls, such as debt that grows uncontrollably if not repaid on time.

—Matt Ryan Webber

Examples of payday loan in a Sentence

Recent Examples on the Web

Payday loans Usually capped at $500, payday loans are a form of short-term financing that typically only require a valid ID, proof of income and an active checking account. — Dan Avery, CNBC, 25 Sep. 2026

The complaints, which range in focus from debt collection to credit reporting to payday loans and more, long served as a window into Americans’ gripes and struggles with various companies. — Joel Jacobs, ProPublica, 23 Sep. 2026

When a billionaire starts seeking the Wall Street equivalent of a payday loan, things are officially off the rails. — Dieter Kurtenbach, Mercury News, 19 Aug. 2026

As with previous years, the city will have to issue tax anticipation warrants – essentially a payday loan for local governments – to get by until the first installment of property taxes is paid next year. — Doug Ross, Chicago Tribune, 8 July 2026

Word History

First Known Use

1937, in the meaning defined above

Rhymes for payday loan

• acetone
• anglophone
• baritone
• bourguignon
• buspirone
• chaperon
• chaperone
• cobblestone
• collarbone
• cornerstone
• cortisone
• dictaphone