How to apply for a loan

We take a look at the loan process and how to improve your chances

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Many households in the UK, unfortunately, don’t have any savings – 15% according to data from Finder. This means that if a life emergency should strike before payday, then money can be a little tight and people may resort to applying for a short payday loan.

These loans can be helpful if you only need a small amount of cash and are confident you can clear what you have borrowed, plus interest when you have been paid. However, there are some things to consider before you go ahead. In this guide, we’ve looked into short payday loans, what they can be used for and the alternatives available.

Sunny provides access to short-term loans, intended for repayment within a few months, depending on the amount you borrow. These are usually for amounts of £100 to £1,000 but maybe for up to £2,500.


The loan application process varies slightly from lender to lender but the basics are likely to be the same for most.

Some loans have a very quick and short application process and the money you need can be in your bank within minutes. Others, especially longer term and higher value loans, may have a longer application and decision process.

For the majority of loan applications you will almost certainly need the following information at your fingertips:

  • a figure for how much you want to borrow
  • an idea of the period over which you want to repay the loan/how long you need to repay it
  • your personal details (name, date of birth, address, number of dependents, contact details, bank details, perhaps debit card details too)
  • your address history for about three years (i.e a list of addresses where you have lived)
  • details of your income and expenditure.

Some lenders will also want to know the purpose for which you want to borrow the money and may not agree to lend money for certain purposes.

Our Frequently Asked Questions page is full of useful information.

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

Your questions answered

  • The first thing to do before applying to borrow money is to properly consider if a loan is definitely the best way forward.

    Applying for a loan is something you should only do after giving proper consideration to your financial situation and ability to make repayments. If you are facing financial difficulties, you should seek independent advice. You can get free advice via the Money Helper or Citizens Advice.

    Using savings or considering other ways to raise funds may be a better solution depending on your circumstances, the timescale in which you need the cash and how much you need over what term.

    Once you’ve decided a loan is definitely the route you want to take it is advisable to:

    Have an understanding of your credit score and whether it is positive or negative

    If you have a good credit score you are likely to be able to get a better deal on a loan with lower interest rates, which means you’ll repay less in the long run.

    It is possible to check your own credit score via a Credit Reference Agency (CRA), the main ones being Experian, Equifax and TransUnion. Making a check on your own credit score will not affect it as it is seen as a ‘soft search.’ Some loan providers, including the lenders on Sunny’s panel, can also offer a soft search in the first instance to indicate if you are likely to be accepted for a loan without it impacting on your credit score.

    If necessary you can take action to improve your credit score, but this is unlikely to be a quick fix.

    Shop around for the best deal

    There are lots of lenders and lots of different loans available.  Taking some time to compare them will likely save you money.

    You may wish to consider:

    • interest rates and what both your regular and overall repayments will be
    • how flexible the repayment requirements are should your circumstances change
    • fees and charges
    • whether you can repay early and if there is a penalty for doing so

    Check the eligibility requirements of your preferred options

    Ensure the loan or loans you’ve identified are open to you and fit your requirements.

  • In some cases, loan applications can be completed and processed in minutes, depending on the product you are applying for.  The money can be in your account the same working day and sometimes within the hour.

    That is providing you have all the necessary information to hand and are eligible for the loan.

    Delays may be caused if you have a poor credit score, additional verifications are required or if there is a complication in terms of your paperwork.

Steps on how to apply for a loan if choose Sunny

To be considered eligible for a loan you must:

  • be aged 18 or over
  • be a UK resident
  • have proof of a regular income
  • be able to give details of your address for the past three years
  • supply the details of your bank account
  • have an email address and a mobile phone
  • not be bankrupt, or otherwise insolvent

Our broker partner’s panel of lenders carry out credit checks before issuing loans but use a ‘soft search’, meaning they can indicate if you are likely to be approved for a loan, without it affecting your credit score.

We don’t charge fees, most lenders will allow you to make extra or early repayments on your loan to help reduce the amount you pay back overall.

Need A Loan?

Once you are sure a loan is right for you, just click through to our application form via the button below and follow the tips above to make applying for a loan as simple as possible.

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Representative 89% APR

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A lender eligibility check will assess whether you meet their lending criteria. Even if you are eligible, they may still require proof of ID and/or proof of income before they approve the loan.