Sonic Payday Loans - When You Can't Wait for Next Paycheck

2007-03-08 10:33:40

( Financial )



It can happen to anyone who has a job. You need to pay for something urgent, but payday is still a week or so away. You feel too embarrassed to borrow from a friend. Applying for a loan in the bank would be tedious and may take too long for an emergency situation.

Features of a Sonic Payday Loan

Sonic Payday Loans provide fast cash loans for those in-between payday cash shortages and emergency funding needs.

The amount you can borrow depends mainly on your income and employment record. Sonic does not do credit checks, so you may still qualify for a Sonic Payday Loan even if your credit history wasn't very good. You can borrow as much as several hundred dollars at a time, as long as you can show ability to pay for it.

Once you have applied for the loan, Sonic will deposit the cash directly into your bank account. While the grace period for repayment is about 14 days after receiving the funds, you can extend the deadline up to a month.

How to Apply for a Sonic Payday Loan

You must be at least 18 years old, employed for at least three months, and you have to meet a minimum income requirement. In addition, your paycheck must also be under a Direct Deposit arrangement, and your bank account should have been open for at least three months, with no NSF record.

You can conveniently apply for Sonic Payday Loan online. Once you've filled out the application, a Sonic representative will call you to verify some details in your application. The application process itself is free of charge, and approval can take place within an one hour.

If your loan is approved, Sonic will charge you a small fee based on loan amount. You have the option to agree with the terms of the loan before Sonic releases the funds to you.

Precautionary Tips about Sonic Payday Loans

There have been some reports claiming that Sonic, just like other online payday lending companies, are not duly registered with the federal licensing commission. Some are already under investigation or are facing fines due to false addresses and other fraudulent activities.

Before you consider Sonic Payday Loans or other similar agencies, verify if they are licensed to operate in your state.

There are other alternative ways to get fast cash loans, such as credit card advances or salary loans through your employer.

Or if it is just a small amount you need, a family member or a trusted friend might be able (and hopefully willing) to help you out.


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