Company Outline
Sunshine Loans is a loan provider that offers amounts from $2,050 to $2,500. The typical repayment terms range from 9 to 16 weeks. Sunshine Loans was founded in 1999 and has offices in Queensland, Australia. The company is reachable from 9 AM to 4 PM QLD time. The company has an ACN of 092821960 and Credit Licence Number 390556.

Small Loans
Sunshine Loans provides small-loan amounts up to $2,500 with durations varying from nine to sixteen weeks. An establishment fee is charged for setting up the loan. Additionally, there is a $35 default fee. Sunshine Loans also offers payday loans with similar terms and conditions. You must call Sunshine Loans’ customer service line directly to enquire about monthly fees, early repayment fees, and other costs related to your loan.
Note: As of July 2024, all of the data presented in Monzi is true and consistent with the information found on the Sunshine Loans website.
Procedure for Applications and Responsible Lending Obligations
Sunshine Loans offers a straightforward, three-step online loan application process. You must fulfil the following lending requirements to be eligible for a loan:
- Be over 18 years old.
- Be earning at least $400 in weekly take-home pay. A part-time job or government benefits can be included in this.
- Your take-home pay should be shown on bank statements that were obtained using your online banking credentials.
- Applicants must ensure they can comfortably afford repayments on their current loan before applying for a new one.
Additionally, you must submit the following records and data using the online application form:
- Personal information, such as a passport or Australian driver’s licence.
- Contact details.
- Details of income.
- Information about online banking.
Sunshine Loans adheres to responsible lending obligations to ensure applicants do not experience financial hardship.
Pre-approval takes five minutes to complete. You will receive your loan agreement to examine if you are approved. The loan money will be released after you sign and return the loan contract. If you accept a contract offer by 4:30 PM QLD time on the same day, money will be deposited into the account you designated before 7 PM QLD. Contracts signed on holidays or over the weekend won’t become effective until the next working day. Nevertheless, the banking institutions’ processing and clearance times will also impact when the funds are released.
Even if you have successfully repaid loans in the past, you must undergo a rigorous assessment process for lending approval.
Features of the Loan Product
Sunshine Loans offers several noteworthy loan product features, such as quick pre-approval and time to disburse funds. Sunshine Loans ensures that applicants will not experience financial pressure as a result of their lending. You can sign the loan offer within the daily deadline and may receive funds the same day after being pre-approved in as little as five minutes. The company is committed to not placing customers in financial hardship. Additionally, Sunshine Loans provides an option for early payback with no additional costs. Assessments are conducted to ensure that applicants do not face financial pressure from their loan obligations. For customers who have previously made on-time loan payments, the firm also offers expedited application and approval processes.
The Company: Sunshine Loans
Positives:
- Easy online application and approval procedure.
- No costs associated with early additional repayments.
- Expedited approval procedure for clients who have fulfilled prior loan repayment obligations.
- Accessible to individuals with bad credit, emphasising responsible repayment.
Challenges:
- Sunshine Loans has experienced some delays in processing applications for borrowers who do not meet all loan requirements.
- High delinquency costs.