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Payday Lenders in California Payday loans are short-term lending arrangements designed to give borrowers quick and easy access to cash when they encounter unexpected expenses or emergencies. Payday loans have become a popular option with Californians taking out an estimated 12 million loans totaling over $4 billion each year. These are designed to be paid back within several weeks – usually when their next paycheck arrives. Although payday loans can provide quick access to funds, they also come with high-interest rates and fees.

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