Sunny Review | www.sunny.co.uk

Sunny

Last Update: January 26th, 2017

About…
Address: Blenheim House, Newmarket Road, Bury St Edmunds, IP33 3SB.
Branding: Sunny. AKA: Sunny.co.uk Loans.
FCA Licence: 673771.
From: Elevate Credit International Ltd (part of Elevate Credit Inc).
Launched: 2013 (2004 as 1 Month Loan).
Memberships: CFA.
Related: No companies.
Website: www.sunny.co.uk.

Product Details…
Bad Credit Sunny Loans Available?: Yes.
Manage: Sunny login provided via www.sunny.co.uk.
Offers: Instalment and personal loans.
Opening Hours: Monday to Thursday (8.30am/7pm), Friday (8am/5pm), Saturday to Sunday (10am/3.30pm).
Secure (SSL): Yes.
Sums: £100 to £2500 (new and returning).
Terms: 6 to 14 months.

The Pricing…
£21.60 /£100 (30) (promo) <0.720%>
£24 /£100 (30) <0.800%>
£137.99 /£300 (3) (promo) <0.511%>
£154.24 /£300 (3) <0.571%>
£262.87 /£300 (6) (promo) <0.487%>
£295.91 /£300 (6) <0.548%>

Notes: There are heavy term restrictions of £100 to £1000 (6), £1100 to £1500 (7), £1600 to £2000 (9) and £2100 to £2500 (14). Whilst terms are fixed, they state that they are happy for customers to settle after just a single month. The Sunny Promo only covers 6 months or less and this is for new customers only. We have removed the £1k 12 month example since you’d need to borrow £2100+ and settle early.

Noteworthy…
– Amounts: One of the few firms to extend to £2500 for new customers.
– Experience: The new brand name was unleashed in 2013, but they did originally operate as 1 Month Loan that was formed in 2004. The founder back then was Fortress Group (UK) Ltd.
– Operations: As seen in the listings above, the Sunny loans are available on Saturday and Sunday.
– Ownership: The highly established American owner is in a firm position to inject stacks of funding into this lending brand (as has been the case to date). We have referenced the naming change within this organisation in the updates section below.
– Pricing: The monthly cost factoring the discount is a decent price. The instalment charges are good, but not great.
– Profile: This is now one of the biggest spenders on TV and web advertising. They also have a notable search engine presence for all of the big keyword terms in Google. They currently have around 5000 fans on Facebook. Satsuma Loans have just over 6000. It is interesting to compare these, since both arrived in 2013, they each target the instalment sector and the pair advertise more so than most other emerging lenders.

Updates…
– 2017 update has been applied to the terms that are now more restricted.
– A recent 2016 check identified an address change and they did require applicants to be aged 21+ when more than £1000 was required that has since changed. They did have a sister-brand called Quid at www.quid.co.uk. This site is still live, but at application the closure is marked with visitors being advised to head to this company.
– Pricing over the month per £100 was £28.99 (it now matches the cap at £24). An improved rate is provided over their longer term offering.
– Promos released on the shorter term option. The code took a 20% saving, but this is now 10%.
– Sums were available between £100 and £1000, but they have stretched to £2500 to match the increased terms.
– Terms have been changed. You could previously select between 3 days and 5 months. The short terms have been removed and as it stands you can choose between Now (6) and Plus (14). As noted, you can clear your balance early to set your own term.
– Think Finance Inc have now created the division of Elevate Credit International Ltd to manage their international lending brands. Think Finance is now focussed on analytics and technology.

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