Sunny Loans

Who was Sunny?

Sunny was a direct lender of payday loans and was considered to be one of the biggest payday lenders in the UK.

Is Sunny loans still trading?

No, Sunny went into administration on July 29, 2020. As a result, Sunny is unable to accept new applications for credit and cannot issue any new loans.

What happened to Sunny?

Sunny offered lending options that differed from other payday lenders; for example, customers could apply for more than one loan at the same time. This type of lending leaves borrowers at risk of a debt spiral. By the end of 2019, the Financial Ombudsman Service (FOS) received over 3,000 claims from borrowers who felt that Sunny had mis-sold them an unaffordable loan.

Can I still make a claim against Sunny loans?

Unfortunately, the deadline for making a claim against Sunny loans was the end of January 2021.

Is Sunny loans legit?

Sunny loans is no longer an active lender. However, before Sunny entered into administration, it was a trading name of Elevate Credit International Limited, a legitimate company authorised and regulated by the Financial Conduct Authority (FCA).

CashLady as a Sunny loans alternative

If you’re looking for a fair, transparent, and safe experience, CashLady could help you. CashLady only works with lenders who are authorised and regulated by the FCA.

Loans like Sunny: introducing CashLady

CashLady is a credit broker. The 30+ lenders on our panel offer short-term personal loans from £100 to £10,000.
While a payday loan must usually be repaid in full within a month, the short-term loans offered by our lenders come with a range of repayment terms from 3 to 60 months, depending on the amount of money you apply to borrow.

How soon could I get a loan with CashLady?

Our credit broking service is smooth and efficient. Once you’ve filled in our straightforward, five-minute online form, we’ll scan our panel of lenders for a suitable loan for you. In just 60 seconds, we’ll let you know whether we’ve found a match.

If you’re matched with a loan through CashLady’s credit broking service and you choose to make a full application, the direct lender will carry out a creditworthiness assessment, which will include a hard search or Open Banking.*
If your application is approved by the lender, your money could be sent the same day.**

Does it cost money to use a credit broker?

Here at CashLady, we do not charge any fees for our credit broking service.
It’s also worth noting that your quote is no-obligation.

I’d like to search for a Sunny loans alternative; how can I do this with CashLady?

You can search for a Sunny loans alternative loan with CashLady if you meet our eligibility criteria.
You must:

Sunny loans alternative: loans for bad credit

You could search for a loan with CashLady, even if you have a history of bad credit.
CashLady works with several lenders who specialise in loans for people with bad credit.

You should do careful research before you apply for a bad credit loan.
A bad credit loan could come with a higher rate of interest, which will increase the overall cost of borrowing.

What happens if I’m struggling to repay my loan?

If you’ve taken out a loan that you can no longer afford to repay, it’s important to let your lender know as soon as possible. If they’re aware of your situation, they can try and help you find a suitable solution.

If you’re worried about money or debt and would like to talk to someone in confidence, please know that you can access free, impartial advice through the following organisations: StepChange, MoneyHelper, Citizens Advice, and National Debtline.

*Please note that a hard search will remain on your credit file for up to 12 months. Undergoing multiple hard searches in a short period of time will harm your credit score.

**The time it takes for the money to become available in your account will depend on your bank’s policies and procedures.