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Established Church


      n   a Church that is officially recognized as a national institution, esp. the Church of England  
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A small short-term loan, with very high interest rates, that the borrower promises to repay on or near the next payday. Used by wage earners who run short of cash before payday. Payday lending is an established form of lending in the US and Canada.
Also: payday advance, overnight loan.
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