Share this entry

Share this page

payday lender

Line breaks: pay¦day lend¦er

Definition of payday lender in English:

noun

A company that lends customers small amounts of money at high interest rates, on the agreement that the loan will be repaid when the borrower receives their next wages: payday lenders have been criticized for setting loan terms that keep cash-strapped borrowers in perpetual debt
More example sentences
  • The new rules became effective in July, and let payday lenders and car title lenders charge a $10 origination fee per $100 loaned, up to a limit of $30 for a loan of any amount.
  • Expect business at payday lenders and pawn shops to increase, for instance.
  • Fifty-four percent of us have no bank account or are still using check cashing places, money orders and payday lenders.

Definition of payday lender in:

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day resilient
Pronunciation: rɪˈzɪlɪənt
adjective
able to recoil or spring back into shape…