short-term definition, short-term meaning | English dictionary

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1    of, for, or extending over a limited period  
2      (Finance)   extending over, maturing within, or required within a short period of time, usually twelve months  
short-term credit, short-term capital     
English Collins Dictionary - English Definition & Thesaurus  
Collaborative Dictionary     English Definition
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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