Sunshine Loans

A sleek and geared entrant into the fast loans market, Sunshine Loans has a very efficient and attractive online presence.

Since making the foray into micro-lending circa 1999, they have established themselves as a reputable and known player in the field.

A simple lender

With a limited offer that is well met by many Australians, Sunshine Loans has been able to tweak their online loan application processes. It shows in their well presented and logical landing page that enables everyone to glean the necessary information and get on with an application.

Simple returns made easy

Possibly unique among lenders in this echelon, as a returning client in good standing, a single phone call is all it takes for the reactivation of a short term loan account. Sunshine Loans have enabled not only an easy and brief application process for any client, but also a super quick and endearing process for known clients.

While not offering to roll over or refinance existing loans, they do facilitate the return of clients with this process.

Australian through and through

A proudly Australian company, Sunshine Loans makes sure that all prospective clients know they are Australian born, managed and owned and this goes some way towards establishing their bona fides too.

Coming at consumers with a very tailored offering, both the minimum and maximum fast cash loan repayment period is 63 days (9 weeks). Sunshine Loans have a minimum loan amount of $150 and a maximum amount of $2000.

Loan costs

Very much in line with a host of its peers, Sunshine Loans offers loans at a price of an establishment fee and monthly interest.

This fee is 20% of the loan amount and the monthly fee is 4%. Unlike other longer-term loan entities, there is no APR to consider (an annual percentage of interest levied on the loan) and their structure is simple - a once-off and a monthly fee.

No early repayment penalties

Something to consider on both sides of the fence would be the fact that, firstly, there is no penalty for early settlement. Secondly, however, there are punitive charges if one is running behind (re)scheduled repayments. A fee of $30/week is levied on late accounts.

Non-payment

Notwithstanding that a client may well call to rearrange things, the $30/week seldom comes to a waiver if rearranged schedules are skipped. Potential clients - especially those borrowing a small amount - would do well to ensure they can meet arranged personal loan repayment dates.

That said, schedules are flexible and staff will help prospective clients come to genuine affordability.