Eligibility for bad credit loans

To apply for a bad credit loan in the UK, you must meet a number of criteria. For example, you will need to be at least 18 years of  age and a resident of the UK. You must also not be bankrupt, and be able to show you have a steady income and access to a bank account. Remember, you will also undergo a credit and affordability check as part of your application for a bad credit loan with Sunny.

Find out more about all of our eligibility criteria by clicking below.

Bad credit lending example

Here, we’ve broken down a few examples of this type of payday loan for bad credit – detailing different amounts and the interest you’ll pay on each. Take a look through to see which one would be best for you and your circumstances and then hit the apply now button to get an instant decision on one of our loans for those with a poor credit history.

Monthly rate
%
Based on a
30 day month
Loan term
Months
The loan term is fixed but you can repay early at any time
The loan term is fixed but you can repay early at any time
Representative example
£ for months
%pa (fixed)
£
£
% APR
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No impact to your credit score

Poor credit loans information hub

Want to know more about this loan type? We’ve answered some of the most common questions to help you make the right decision. If you have other questions before you submit your application online, our customer support team are also on hand to help.

  • This type of loan is for those who have a low credit score or a poor credit history. You can find out your score by signing up to a credit reference agency such as Experian or Equifax.

  • Limited credit history is when you have no evidence of making credit repayments, this can be just as damaging as a low credit score and may restrict you from even taking on a bad credit loan.

  • These loan types can save the day with life’s little emergencies and may be the only option for those with a low credit score.

  • This can be the result of late or missed repayments on a loan, credit card, mortgage or other credit agreement or having high levels of existing credit in your name.

  • Yes, we want to help you make the best financial decisions for you, so when we receive a loan application we take care to carry out a full credit check as part of our review process. We undertake an affordability assessment to ensure we only lend to those who can demonstrate they will be able to afford to repay their loan on time, and our credit check ensures we avoid lending to those who may find repaying a loan difficult.

  • Taking on small amounts of credit and proving that you can make repayments on time and in full can help you boost your score. Enrolling on the electoral register can also help.

  • Yes, once your application is received we review and confirm whether you have been accepted or not – this could be on the same day. Once you’ve been approved the money could be in your account in just 15 minutes – ready to cover you when you really need it.

  • Not necessarily. Our bad credit loans don’t usually require a guarantor. You can solely apply and receive your cash without the fuss.

More about Bad Credit Loans

These loans are there for those moments where you need a little cash now, but your credit score is preventing you from taking out a personal loan from your bank or another credit provider. Whether the washing machine is on its last legs, the car’s broken down or the boiler is on the blink, one of these loans can support you and ensure you can get the job done straight away. That’s life support.

It’s important to bear in mind that you will pay a higher interest rate on a bad credit loan.

Once it has been paid, though, the lender will report to the Credit Reference Agencies that you have repaid in full and on time, and this will be reflected on your credit report. This should stand you in good stead for future credit needs.

At Sunny offer loans designed to help you on a short-term basis. These loans are not recommended as a solution to a long-term financial problem and we advise you seek expert financial advice before applying.

Got everything you need?

Feel like you have a good understanding of bad credit loans and believe this loan type is right for you? Hit the apply now button below and receive an instant decision. Once we’ve approved your loan, you could have the money in your account in 15 minutes.

Apply today

Representative 1281% APR

How a Sunny loan can help

Here at Sunny, our aim is to help you tackle unexpected expenses quickly, so that you can get back to the important things in life. That’s why we believe our bad credit loans are the best choice for those who need credit now, and have been turned away by their bank or other credit providers. When you choose Sunny, you also enjoy the following benefits.

  • Get the quick loan you need, in minutes

    Apply for one of our loans and receive an instant decision, even with bad credit. You could receive your cash in just 15 minutes of approval.

  • We never charge fees

    You don’t need to worry about those extra fees. There are absolutely no application fees, no admin fees and no late payment fees.

  • Save on interest if you repay early

    Unlike other loan providers, you can pay early and save on interest. Plus, it’s easy to manage your account online to stay on top of your upcoming payments, and even pay a bit extra or early.

With Sunny, good vibes come as standard