Sunshine Loan Centres provides a range of payday, cash and short term loans for any purpose.
Sunshine Loans is an Australian short term lending finance company based in Surfers Paradise, Queensland. They offer a several different types of loans for borrowers, including cash, payday and bond loans from $150 to $2,000.
Sunshine Loans advertises its loans on the basis of their loan term flexibility and the value of the loan to manage cash shortfalls, pay bills, and meet borrower’s needs for cash.
Sunshine Loan Centre Payday Loan
Sunshine Loan Centres offer a fast and easy online application. You can apply today to get approved from this family business.
- Loan Amount: $2,000
- Loan Term: 9 weeks
- Turnaround Time: 30 minutes - conditions apply*
- Total Cost of Borrowing $100: 20% of principal amount (establishment fee) + 4% of principal amount per month.
- Bad credit borrowers accepted
- Quick and easy Approval of your loan
Types of personal loans from Sunshine Loan Centres
The Sunshine Loan Centre range of loans is configured as three types of small loans, categorised as:
- Payday loans: Short term loans between paydays.
- Cash loans: Cash upfront on a quick turnaround basis.
- Bond loans: Loans for people looking for cash to pay rental bonds.
In practice, the three types of loans are taken out and paid for on the same basis. The main difference between them is in the way the loans are used. These loans include the option to borrow smaller amounts at the same rate as larger amounts.
Sunshine Loan Centres do not charge interest on their loans. They charge a standard rate per $100 of loan, and a percentile management fee, which is common practice among short term lenders.
Features and benefits of a Sunshine Loan Centres personal loan
- Loan terms. The Sunshine Loan Centres Loans are conventionally structured short term loans, with standard payment periods of one to eight weeks. The shorter loan terms theoretically reduce the net cost of the loans compared to similar loans taken out on the same structure of charges. However, the short terms of these loans also require comparatively prompt payment.
- Pensioners and low income earners may apply. Sunshine Loan Centre states in its FAQ that they consider loans on the basis of an applicant’s demonstrated ability to comfortably repay their loans. For those on low incomes, they suggest that applications by more than one person may be appropriate.
- Credit rating is relevant to assessment for loans. Sunshine Loan Centres advises that it conduct credit checks on applicants, but will consider applicants with "reasonable" credit histories. It should be noted that their policy is standard practice in this regard. Lenders may decline loan applications at their sole discretion.
- Sunshine Loan Centres does not renew or refinance loans. Each loan must be finalised before another loan can be taken out.
- Early repayment is accepted without penalty. Sunshine Loan Centres permit early repayment of loans. Early repayment may reduce the net amount of payments by borrowers, but charges and fees naturally apply at the same rates up to the date of early repayment.
How to apply for a personal loan from Sunshine Loan Centres
The application form contains a range of conditions applicants must agree prior to submission of their applications.
Sunshine Loan Centres minimum requirements for eligibility are:
- Applicants must earn at least $450 per week.
- Applicants must be employed, including self-employed people, although pensioners may apply.
- Applicants must provide information to satisfy Sunshine Loan Centres that they can repay the loans within their means.
The loans are said to be designed to meet the short term financial needs of borrowers.These loans are structured specifically for one to eight week turnarounds, which may be suitable for some borrowers, depending needs. Fees and charges are charged at a set amount payable for each $100 loan increment, with a standard management fee based on a percentage of the total loan amount.
The overall configuration of the loans is conventional, using SSL encryption for customer security and a direct deposit process for funding and repayments. Sunshine Loan Centres also offer a 24/7 contact and support service for applicants and borrowers.