how are payday lenders different from a bank or credit union?\na. payday lenders often offer loans to people…

how are payday lenders different from a bank or credit union?\na. payday lenders often offer loans to people who are unable to get a loan from a bank or credit union.\nb. payday lenders usually dont require collateral, unlike banks and credit unions.\nc. payday lenders often offer loans for a longer term than banks or credit unions.\nd. payday lenders usually offer loans at a much lower rate than banks and credit unions.

how are payday lenders different from a bank or credit union?\na. payday lenders often offer loans to people who are unable to get a loan from a bank or credit union.\nb. payday lenders usually dont require collateral, unlike banks and credit unions.\nc. payday lenders often offer loans for a longer term than banks or credit unions.\nd. payday lenders usually offer loans at a much lower rate than banks and credit unions.

Answer

Brief Explanations:

Payday lenders target customers with poor credit who may be turned away by banks or credit - unions. Banks and credit unions have stricter lending criteria based on creditworthiness. Payday lenders often provide short - term loans to those in immediate need despite their credit situation.

Answer:

A. Payday lenders often offer loans to people who are unable to get a loan from a bank or credit union.