Quick Loans

What is a Quick Loan? 

A quick loan is typically a short-term loan intended for emergencies. These loans can be applied for in an emergency and, if you are approved, transferred the very same day. They are usually for smaller amounts of money compared to personal loans, which take longer to arrange as the amounts are larger and require further checks

At Sunny, we work with a panel of lenders who offer fast loans designed for situations like this. These loans are quick and easy, taking the stress out of finding money to cover that unexpected expense, with instant decisions on your application.

Online applications are quick and easy; all you have to do is fill out some details and wait. Your research and your decision can happen in the same short period. And most often, if you’re looking for cash quickly, you need it today – not tomorrow or in a few days’ time! And quick online loans are often the fastest way to get some emergency cash.

If you’re low on money until payday due to an unexpected expense but think you can stretch what you have, read our tips on how to survive until payday when you’re low on money.

Eligibility for a Quick Loan 

When applying for any loan – whether it’s the payday type or a personal loan from your bank – you’ll need to check you are eligible first. If you want to apply for fast loans, you need to be over 18 years of age and a UK resident. Lenders also ask that you meet several other criteria, too, such as supplying proof of your address for three years and having an active bank account.

It is important to us to ensure our customers can repay what they have borrowed and that the quick loan that solves today’s problem, doesn’t then become tomorrow’s burden. When you apply for a quick loan through Sunny, you give lenders consent to carry out a thorough credit and affordability check on you to make sure you are not only able to repay but can also afford to make the repayments without sacrificing other essential obligations.

Even if you have bad credit, you can get a quick loan. For more information, check out our payday loans for bad credit

How do I get a Quick Loan? 

These loans are quick and easy to apply for. To apply for a fast loan online, all you need to do is fill in our application form. Our panel of lenders then run a speedy but thorough credit check, other background checks and an affordability assessment to decide whether they can and should lend to you. Their initial checks, to offer an instant decision, won’t affect your credit rating as they use something called soft search to review your credit report that does not leave a mark. The loans we introduce customers to factor in your income and outgoings to make sure repayments you make are manageable and that you can comfortably afford them.

If you’re happy and feel confident that you will be accepted for a loan after the instant decision, then you can continue your application and apply in full. Once your quick loan has been approved and money has been sent to you, it will be available in your bank account for you to spend or withdraw as you need. Most lenders aim to transfer your loan on the same day.

Lenders use the Continuous Payment Authority (CPA) to collect your payments automatically on your due dates, so you can pay back what you’ve borrowed without having to remember to send money to pay each month.