Sunny Loans Alternative
Can’t find Sunny Loans? They are no longer lending, but Drafty is! Drafty offers personal loans. With Drafty Loans, you can borrow between £1,000 and £3,000 with repayment periods of 12, 18 and 24 months. At Drafty, if approved, cash can be sent to your bank account in 90 seconds*.
Representative 79.9%APR
Representative Example: Given a Representative APR of 79.9%, if you borrow £1000 over 18 months at 59.9% p.a. (fixed), you would owe 18 equal repayments of £85.56. You will repay £1,540.08 in total.
Not all applications will be approved for credit. An offer of credit is subject to status and affordability checks.
Why choose Drafty Loans as a Sunny Loans alternative?
Fast
Cash sent to your bank in under 90 seconds, if approved. It may take longer to reach your account depending on your bank’s processes.
Varied repayment periods
Repay in 12, 18 or 24 months.
Convenient
Secure online application available 24/7. An instant decision.
About Sunny Loans
Sunny Loans was a UK-based online lender that offered flexible short-term loans. It was known for offering payday loans and other types of short-term credit solutions. In 2020, Sunny Loans went into administration after several customer complaints. Sunny Loans is now a credit broker, not a lender. Sunny is a registered trading name of Upward Finance Limited, an appointed representative of Flux Funding Limited.
Drafty is a direct lender. This means that if you take a loan out with us, it’s only us you have contact with.
Did Sunny Loans go into administration?
In 2020, Sunny Loans (a trading name of Elevate Credit International Limited) went into administration. A number of other payday lenders went out of business during the same period. This was partly due to the number of customer complaints.
However, Sunny is back, but they are now operating as a credit broker, not a lender.
How is Drafty different to Sunny Loans?
| Drafty | Amigo Loans |
|---|---|
| We’re a direct lender. That means you’ll work directly with us throughout the loan process. | Sunny Loans no longer lends directly. They operate as a credit broker, which means that you’ll end up with a different lender. |
| Drafty considers applications with bad credit. | A guarantor with good credit was required, making approval dependent on a second person. |
How can I check my eligibility with Drafty?
To apply online for a loan with Drafty, you need to meet the following requirements:
- Be at least 18 years old
- Be a UK resident with an active UK bank account and debit card
- Have a monthly income of at least £1,250
Representative 79.9%APR
How can I apply online for a Loan with Drafty?
To apply for Drafty Loan:
Apply
Click on the apply now button and complete our online application
process. Choose how much you want to borrow. Then, fill in your
personal, employment and banking details. It takes around 15 minutes
to complete (application completion time varies).
Checks & approval
Once you submit the application, we’ll run credit and affordability
checks. This is to see if you can afford the repayments on top of your
existing financial responsibilities. In most cases, we’ll give you an instant
decision.
Get your money
If approved, we will send the money to your bank in 90 seconds. It may
take longer to reach your account, depending on your bank’s processes.
Once we receive your application, we’ll run a credit check and affordability check. This is to make sure you can comfortably afford the repayments. If approved, we’ll send the money to your bank within 90 seconds.
Alternatively, visit our homepage to apply for Drafty Flex, a personal line of credit (maximum £3,000).
Representative 79.9%APR
What can I use Drafty for?
Whether an unexpected expense comes up or you need to make an essential purchase, you can use a Drafty loan to:
- Get cash to cover car repairs and get back on the road
- Urgently cover the cost of a boiler breakdown
- Manage unexpected bills
- Handle emergency home repairs
FAQ – Sunny Loans
Is Sunny Loans lending again?
Sunny is now a credit broker, not a lender. They are under the registered trading name of Upward Finance Ltd.
What loans does Sunny offer?
Sunny no longer offer loans. They are a credit broker, which means that they find customers short-term loans with other lenders.
Does Drafty do a credit check?
Yes, when you apply, Drafty performs a soft search credit check as part of its affordability checks. This helps us understand your personal circumstances without affecting your credit report.
If you decide to borrow, we carry out a hard check. This will be recorded on your credit record, like with any other lender.
How long do I have to repay a Sunny loan?
Since Sunny is a credit broker, they don’t provide the loan themselves, so you’ll repay the lender, not Sunny. With Drafty, there’s no middleman – you apply directly with us and make your repayments to us.
Please think carefully about whether Drafty is the right solution for you. This is even more important if you're in financial difficulty. If we don't think you can afford to repay your credit, we won't be able to approve you. We'll look at your current finances and credit history before we decide whether to give you credit. Failure to repay could impact your credit file.