Sometimes an unexpected charge or bill can come out of nowhere and the money left in your account until payday just won’t cover both the payment and your everyday living costs. Even a relatively small expense that you didn’t see coming can leave you fumbling to find the funds, which is where little loans come in handy.
Small cash loans exist to help you to stay on your feet until payday, and the small amounts they come in mean you can repay them quickly, with no fuss and little accrued interest. This means that unexpected bills can be resolved as soon as they appear, and your repayment fees can be settled by the date of your next payday. Minimal headaches and quick resolutions are where small loans excel.
What are small loans?
Small loans, or ‘micro loans’, are types of personal loans. These are loans that help cover such things as emergency family expenses, repairs and vehicle maintenance, and which you receive from a lender, such as Sunny.
These smaller loans can help you cover unexpected bills, so you don’t have to take out a big loan you might struggle to pay back, simply because that’s the only option available to you. Some loans are so small that they require full repayment by your next payday, a feature of particular benefit to some customers, as it means your debt is settled quickly.
Are small loans different from payday loans?
No, small loans don’t differ much from payday loans. However, some smaller loans may be referred to as open lines of credit or running credit accounts, which have the option to withdraw from them multiple times. At Sunny we prefer for our customers to have a singular sum, rather than worry about a loan growing larger and it is for this reason that we don’t offer open lines of credit.
What loans Sunny offer
With our Sunny Now product we offer loans in the range of £100-£2500, meaning you can be flexible about the amount you borrow. Some customers could receive largest loan amount possible within this product range, but we are aware that many people want the flexibility to borrow a smaller sum, which can quickly solve minor financial issues and be repaid fast.
The Sunny loan process
It’s impossible to receive even small loans without credit checks, but at Sunny our application process is fast and painless, meaning you could receive the money you need in as little as 15 minutes from the moment your application has been approved.
As long as you are a UK resident with a UK bank account, are 18 years of age or older and are employed with a steady income, you are eligible to apply for one of our quick, small loans. Once you have submitted your application to us we will do a quick credit check, and if your application has been approved and the money is in your account, it is yours to do with as you wish. For those that change their minds about the loan after taking it out, we provide a 5-day cooling-off period, to allow you to consider whether the loan is the right choice for you, or pay it back, without paying interest or other fees, no questions asked.
Why do you do a credit check?
We are obligated to do a credit check to make sure we aren’t lending money to a customer who is not in the financial position to be able to repay us. At Sunny we consider ourselves a solution to short-term financial worries, and it would be against our better judgement to lend money to a customer who would be unable to meet their repayments, resulting in them having more money worries.
A credit check gives us insight into the applicant’s history of paying back credit, like loans and credit cards, meaning we get an insight into your borrowing history and spending behaviours. Before we lend money to you, it’s important we understand this so we can ensure you’ll be able to pay back what you owe, on time. Having a poor history of managing credit, or having never take out credit before, means we may not be able to lend money to you. However, in some instances, we may be able to offer you a loan with a higher rate of interest. This is because people who’ve had problems paying back credit in the past, or who’ve never managed credit before are a bigger risk to the company.
Why choose Sunny for little loans
At Sunny we provide one of the most flexible emergency cash products in the UK, enabling you to choose the cash solution that best benefits your situation and your budget. Our online application is simple and quick, bringing you closer to the debt-free future that is our aim for all our customers.
With no extra hidden fees whatsoever, your brighter financial future could be closer than you think. Our Sunny Now product is the perfect solution for those looking for a small loan to help cover emergency costs in the wait until payday.
If you’re thinking about choosing Sunny as the source of your small loan, apply today. Our Sunny loans are ideal for short-term financial problems, but if your money concerns are more long-term we suggest you to seek financial advice before considering a loan.
Your online account is accessible 24/7 via desktop, tablet or our mobile site, and our UK based call centre is open from 08:30 in the morning to 19:00 at night. Should you need further information or some help navigating the application process then our team of friendly advisers would be more than happy to help. Simply call 0800 7315 444, 01284 715 444 or email firstname.lastname@example.org or find us on Facebook or Twitter. We also have an online chat feature so you can have your questions answered in real time.