Sunny loans review

Sunny, one of the best-known names in short term lending, offers loans between £50 and £2,500.

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Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

Sunny is the trading name of Upward Finance Ltd, an introducer appointed representative (IAR) of Flux Funding Limited, a credit broker, not a lender. Flux Funding Limited is regulated as a credit broker by the Financial Conduct Authority (FCA).

Sunny payday loan

Table: promoted deals, sorted by total payable
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Name Product Available Amounts Available terms Representative APR call to action
Sunny Loan
£50 to £2,500
3 months to 36 months
Representative Example: Borrowing: £1000 for 18 months, Total Repayable: £1853.43, Total Interest: £853.43, Interest Rate (Variable): 89.9%. You can repay this loan early.

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Sunny loans overview

With no application, admin, or late payment fees, Sunny short term loans are straightforward and transparent but can be expensive, like most short term loans.

Sunny payday loans aren’t actually “payday” loans in the true sense. Along with many other similar lenders, Sunny opts to offer an alternative to traditional payday lending (where you’d borrow over a very short period and make a single repayment on your payday). With a Sunny, loan borrowers make a repayment each month, which pays off part of the capital (the original amount borrowed) as well as the interest accrued so far.

Payday loans are a bit of a dirty word, so it’s no surprise that lenders would want to distance themselves from them. However, borrowing over longer periods usually works out more expensive overall, despite smaller individual repayments.

While Sunny offers flexible loan amounts between £50 and £2,500, it sets your loan term based on how much you borrow, which can limit your flexibility when it comes to repaying the loan. Repayments terms are between 3 months and 36 months.

Product NameSunny Loan
Available Amounts£50 to £2,500
Representative APR89%
New customer maximum£5,000
Loan terms3 months to 36 months
Maximum APR1,721%
Soft search eligibility checktick
Funding speedSunny says it processes applications 24 hours a day, every day, and usually transfers funds within 15 minutes of approval. In some cases, for larger loans, funding may be the next working day.
Repayment period optionsMonthly
Default repayment methodContinuous payment authority
Additional repayment methodsOnline payment
Repay early at any pointtick
Parent companyUpward Finance Ltd
FCA registration number806333

How did a short term loan from Sunny work?

Once you’ve chosen the size of your loan and filled in your personal details, Sunny assesses your application, running a credit and affordability check. Having bad credit doesn’t necessarily mean your application will be declined. If your application is approved, Sunny aims to get your cash to you within 15 minutes.

Your monthly repayments will be taken via a Continuous Payment Authority (CPA), on a regular basis on an agreed day of the month.

How much did Sunny short term loans cost?

The cost of your loan depends on how much you borrow and the rate you receive. Sunny short term loans had a maximum APR of 1,721%.

Pros and cons of Sunny loans


  • Flexible loan amounts
  • Quick turnaround
  • No ongoing or additional fees


  • High rates
  • Locked loan terms

Sunny Loans Eligibility

You should only apply for a Sunny loan if you’re certain you can make the repayments and you meet the following criteria:

ResidencyUK resident
Minimum age18
Applications from self-employed consideredtick
Additional eligibility notesYou must not be bankrupt.
You must have a bank account and debit card, a mobile phone and a working email.

How do I apply for a loan from Sunny?

First things first, check your eligibility on the site. You need to give some basic details about yourself, including 3 years of address history. If the verdict is that you stand a good chance of being approved, you can opt to apply for the loan you have in mind. If accepted, you’ll receive your money within 15 minutes.

Are Sunny loans safe?

Sunny was the trading name of Elevate Credit International Limited until it fell into administration in 2020. Now, Sunny is the trading name of Upward Finance Ltd, an introducer appointed representative (IAR) of Flux Funding Limited, a credit broker, not a lender. Under these regulations, your personal data is shared with credit reference agencies (CRA) and fraud prevention agencies.

In terms of financial security, short term loans, such as those offered by Sunny, can cause financial stress, especially if you don’t make your repayments on time.

Can I change my loan?

Sunny offers a very respectable level of flexibility. You can repay early at any time and only pay interest for the days on which you borrow. You also have a cooling-off period in which you can cancel the loan. (You’ll be charged interest for the days when you had the funds, though.)

Option to change repayment datetick
Repay early at any pointtick
Repaying early can reduce overall interesttick
Interest is only applied to days where funds are outstandingtick
Multiple loans allowed at the same timetick
Phone number0800 0485781

The verdict

Like most short term lenders, Sunny provides convenient loans with quick turnaround and short repayment terms. As with any short term finance option, a Sunny loan is likely to be one of the most expensive forms of borrowing available and should only be considered as a last resort.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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