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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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