Warning: Late repayment can cause you serious money problems. For help moneyhelper.org.uk | Representative APR 89.9%
Warning: Late repayment can cause you serious money problems. For help moneyhelper.org.uk

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You can never predict when an emergency expense could come your way. Whether it’s the car breaking down on the side of the road or the washing machine needing a new part, sometimes what’s in your bank may not cover this plus other essential expenses before your next payday.

In this type of situation, you should assess whether your savings will cover it, if you can wait until your wages land to resolve the issue, or if a friend or family member can help out.

If these options aren’t available to you, then you may need to borrow money. In this guide, we’ve taken a look at how Sunny can help if you need to borrow cash to cover an emergency situation.

The 5 steps to borrowing money fast 

  • Review your credit report – Check this carefully to make sure all your information is correct, and work with companies and Credit Reference Agencies to correct any mistakes, or add a notice of correction.
  • Understand the interest rate on the loan you want – Take a look at our loans page to understand what you can borrow and how much the interest payable will be. Use the slider in our example loan section to see how much you’ll repay for the different loan amounts we offer. 
  • Check your eligibility – Make sure you meet our basic eligibility criteria as detailed below. With Sunny customers can also find out how likely they are to be approved before applying. Click here to fill in your details to find out if you’re likely to be approved with no impact on your credit score. 
  • Complete your application – If you’re likely to be approved you can submit your application, and the lender will carry out a hard credit check and affordability assessment.
  • Receive your money – If approved for a loan, you could have the money today#!

Eligibility for a short-term loan

If you are confident you need to borrow money, you should check you meet the lender’s eligibility requirements before applying. If you want to apply to borrow money via Sunny, we ask that you are:

  • 18 years old or above
  • Living in the UK
  • Receiving a regular income and can provide proof of this
  • Using a bank account and debit card

You will also need to:

  • Provide your address history for the past three years
  • Have a working email address and mobile phone

However, these don’t automatically guarantee you will be accepted for a short-term loan.

Applying for a loan means you agree for lenders to carry out a credit and affordability check; this looks at your credit report and past history of managing money and assesses whether you have enough space in your budget to afford repayments on a loan without having to forego other essentials.

Find out more about our eligibility requirements below.

Representative 89% APR

Representative Example: Borrowing: £1000 for 18 months, Total Repayable: £1853.43, Total Interest: £853.43, Interest Rate (Variable): 89.9%. Rates between 9.3% APR and 1721% APR – your no-obligation quote and APR will be based on your personal circumstances. Loan term lengths from 3 to 36 months. Subject to lender’s requirements and approval.

Sunny Loans is a registered trading name of Upward Finance Limited, who is an introducer appointed representative of Flux Funding Limited, who is a credit broker, not a lender. Loan repayment terms are 3-36 month loans.

Warning: Late repayment can cause you serious money problems. For help, go to www.moneyhelper.org.uk.

When to borrow money – Information Hub

Here, we’ve answered some questions you may have when you need to borrow money, to ensure you’re making the right decision.

  • You can borrow money quickly online from a lender. If you are accepted for a short-term loan, you could receive the money on the same day#.

    However, before applying for any credit product, it’s a good idea to first consider the alternatives to taking out a loan. These could include using savings or asking a family member or friend to help. If applying for a loan is the only option available to you, thoroughly research lenders to ensure your chosen company is the best place to borrow money.

  • Before filling out any applications, it’s helpful to know exactly what you are looking for and over what time frame:

    • What is the nature of the expense? Is it necessary? Is it urgent?
    • How much do you need to borrow?
    • How soon do you need the money?
    • Are you eligible to apply?
    • How soon will you be able to repay what you’ve borrowed, and can you afford the interest on top?
    • Do you want to pay back what you’ve borrowed in one lump sum or in monthly instalments?
    • What are your existing debts, and can they and the new debt be managed simultaneously? 

    If you feel confident that you can manage the debt and that the loan won’t negatively impact your current situation then it may be the right solution.

  • This will involve you looking into your basic income and expenses each month and, based on how much you have left over, deciding whether you can afford to add the cost of a loan repayment to these. If the loan stretches you financially and means you will have to cut back on or delay payment for other essentials, it may not be the best choice for your situation.

    Answer all of these questions before applying to borrow money to help you decide who to apply for a short-term loan with.

  • If you have bad credit, it can be difficult to borrow money. You may find that the choice of lenders who are prepared to lend to you is smaller, you cannot borrow as much money, and you have to pay higher interest rates.


    When it comes to applying for a loan, whenever possible it’s important that you check your credit rating beforehand and work to improve this before submitting an application. In an emergency situation when you don’t have time to build your credit rating first, applying for a smaller sum of money or choosing a lender who specialises in customers with bad credit may help improve your likelihood of being approved.

How Sunny can help

At Sunny, we make sure that borrowing money is a simple, easy process. After a short online application, you will usually receive a decision straight away from one of the lenders on our broker partner's panel, and if successful, money will be deposited in your bank account fast. Here are a few more of the benefits of applying for a loan via Sunny.

Once approved, your loan could be in your bank account today# - allowing you to pay for an emergency expense without delay.

We don’t charge fees, so you can rest assured that you will only pay back the amount you borrow and the interest.

You can select the repayment period to suit your budget and ensure your repayments are set at a time that suits you.

More information on borrowing money

If you choose to borrow money, the most important thing is to ensure you can repay the loan, plus the additional interest charges. Not only is it a part of the contract you will sign a legal obligation, but failing to do so can result in penalties. For example, some lenders will charge late fees if your payment is not made on time.

Our partner’s lender panel offer loans that have no fees, guaranteed

Got everything you need?

If you need to borrow money and feel confident that you can afford to repay a loan plus interest, you can apply for one at Sunny today. Click the Apply Now button below to go straight to our application form.

Apply now

Representative 89% APR

Looking for alternative lending options?

Still need more info when it comes to borrowing money? Take a look at our other guides that break down the circumstances for taking on a loan and when one might be right for you.

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