Lender Review: Sunshine Loans


Company Brief

Small Amount Loan: $150 to $2,000

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Min Loan Term Max Loan Term
Short Term Loan 4% of the borrowed amount per month + 20% one-off establishment fee Fixed monthly fee + One-time establishment fee $150 $2,000 24 hours 9 weeks 16 weeks


Sunshine Loans offer Small Amount Loan ranging from $150 up to $2,000 with loan terms from 9 to 16 weeks. The monthly repayments include a 4% monthly fee and a one-time establishment fee amounting to 20% of the borrowed amount.

A borrowing example: if you take out a $1,000 loan over a loan period of 9 weeks, your establishment fee would be $200 with a monthly fee of $40. The total repayment amount would be $1,280, with a monthly payment of $640.

Breakdown of all fees for each loan product

The following are the repayment fees associated with small amount cash loans from Sunshine Loans:

  • Monthly Fees: The monthly fee is set at 4% of the borrowed amount.
  • Establishment Fee: The one-time establishment fee is 20% of the borrowed amount.

Other fees to consider for small amount loans from Sunshine loans include:

  • Direct Debit Dishonour Fee or Missed Payment Fee: this fee is charged to accounts with failed direct debit transactions or missed scheduled payments. It also includes all charges on letters, SMS, emails, or phone calls made to recover the money owed. This is set at $35.
  • Weekly Arrears Fee: this is a fee used to cover the administrative costs of keeping your account current while it is delinquent. The weekly fee is set at $20.

Application Process

The loan application process for Sunshine Loans is completed online through an easy 3-step process. To be eligible for a loan, you need to meet the following lending criteria:

  • Over the age of 18.
  • Having a weekly take-home pay of $400. Government benefits (e.g. Centrelink) and a part-time or casual job can both be included in this.
  • Bank statements extracted using your online banking details should show your take-home pay.

You also need to provide the following information and documents through the online application form:

  • Personal details including Australian Driver’s License or passport
  • Contact details
  • Income Details
  • Online Banking Details

The pre-approval process takes 5 minutes. If you are approved, you’ll receive your loan agreement to review. Once you sign the loan contract and return it, the loan amount will be disbursed. Money will be transferred to the account you specified by 7 PM QLD if you sign a contract offer before 4:30 PM QLD time on the same day. Contracts signed over the weekend or on a holiday will clear only the following business day. However, the fund release time will also depend on the processing and clearance times of the banking institutions.

Notable Loan Product Features

Some of the notable loan product features of Sunshine Loans include quick pre-approval and the time to release funds. You can get pre-approved for as fast as 5 minutes, with the possibility of same-day fund release once you sign the loan offer within the daily cut-off time. Sunshine Loans also offer an early repayment option without incurring additional fees. The company also provides quicker application and approval processes for borrowers who have previously paid off their loans on time.

The Company


  • Quick online application and approval process
  • No fees for early additional repayments
  • The easier approval process for customers who already completed previous loan repayments


  • High delinquency fees
  • Delay in processing for borrowers who do not meet all lending criteria

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