Some points to remember, before taking on a payday loan

  1. These loans are intended as short-term fixes and so should only be taken on if you need to pay an expense immediately and have exhausted all other options to obtain the money you need.
  2. Payday and short-term loans are a type of high-cost credit, so before you apply for one you should take the time to review your finances and make sure you’ll be able to make the payment or payments that you’ll be required to with a loan like this.
    You should always look for a lender who is regulated by the FCA (Financial Conduct Authority) to ensure they adhere to industry rules.
  3. Even among lenders providing similar loan amounts, there can be key differences in the service they offer, like how long you have to repay. Some lenders will expect you to repay in full as soon as your next payday arrives. Others, like Sunny, offer longer repayment periods, which can help you spread the cost, while also allowing you to pay back early at any time to save on interest.

Looking for a speedy loan?

If you need a short-term loan, but don’t feel like a traditional payday loan is the right choice for you then Sunny could be able to help. Apply for one of our loans today, and you could receive an instant decision and if approved, you’ll have the money in your account within 15 minutes, no late payment charges and a flexible repayment schedule that allows you to pay back what you’ve borrowed over an agreed term, or pay back early to save on interest.


Comments from Sunny customers

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Related Articles

We’ve created some in-depth guides, taking a look at the circumstances around when you may need a short-term loan. These can help, when it comes to making a decision on who to work with and how to handle an emergency.