First Time Loans

If you've never had to take out a loan before, it can be a fairly daunting task. Thankfully, at Sunshine Loans, we aim to make first time loans simple and easy to understand. Whether you need some fast cash for vehicle repair or a deposit for your parents' big birthday bash venue, we offer first time loans of up to $2,000 when you need it most.

For individuals without credit - that is, no financial history of prior loans - it can be difficult to secure a loan for the first time. Without any indicator of how good (or not-so-good) you are at repaying a loan, lenders can hesitate to take the risk. And while having no credit history is better than having a bad credit history in most cases, it is favourable for you to have some line of credit. However, at Sunshine Loans, we individually assess your case - just as we do for those with bad credit - and make our decision from there.

We've helped hundreds of people with no or bad credit history in the past. Just ask us, and we'll do our best to help you too.


Why I Might Need A Loan

Feeling a bit of financial pressure? Chances are that, when used smartly, a loan can do you a whole lot of good, helping you out in emergencies and other special situations that might undo all your hard work.

You might need a first time loan for any number of reasons, including:

Once we determine the need for your loan and you fill out the required paperwork (it's not too scary, we promise!), we can have your money in your bank account as soon as the same day.

Things To Look Out For

Individuals taking out first time loans have a few things to keep in mind to ensure that it's the right step financially. Here are some things you should be looking out for, as well as some questions to ask yourself.

Why You Need The Loan

This is one of the most important things to ask yourself before taking out a loan, since personal loans can be hugely helpful, but also a hindrance. According to finance website Finder, around 22% of Australians have taken out personal loans, suggesting that lots of people simply don't have emergency funds set up to act as a safety net when unexpected expenses arise. If this is the case for you, read our guide to the best budgeting apps for 2020, and learn how to set aside money that can save you in the future.

If you're considering taking out a loan for something that isn't urgent, we suggest holding off, or asking family (or some really good friends!) if they can help you out.

Credit Score

You'll need a decent credit score to successfully apply for a loan. If you're not sure what a credit score is, how it's calculated, and how to get yours, check out our blog post that covers all of this and more.

Put briefly, your credit score is calculated using your financial history - if you've defaulted on a loan or been slow to pay bills, your credit score is negatively impacted by this. If you've never taken out a loan before, you might not even have a credit score, so it's worth looking into your financial history before you apply.


Do you have a steady income that allows you to meet your loan repayments? Your income can help to determine how much you can afford to borrow versus how much you can afford to pay back. For example, a loan with a higher interest rate but shorter life can actually be more affordable than a low-interest rate loan you would pay off over 5 years.

Payment Obligations

Before you take out a loan for the first time, it's worth looking through the fine print to establish the exact repayment obligations. There can be fees involved with late repayments, and interest will also affect your total amount of repayments.

How Much Can You Borrow?

If you're wondering how much you can borrow for a first time loan, the answer will depend on a number of variables. Most loan calculators take into account things such as your salary, total dependants, your current financial commitments - including rent/mortgage, loan repayments, credit card limits and living expenses - and the type of loan (secure, fixed rate, variable rate).

While larger institutions such as banks can offer large personal loans of up to $50,000 (and sometimes more), at Sunshine Loans we offer first time loans of up to $2,000 - enough to help you out in an emergency, but not so much that you create increasing debt for yourself.

Why Choose Sunshine Loans

We do express loans from $150 to $2,000.

As the rainy-day loan experts, we understand that not everybody has an emergency fund in place - and often in life, when it rains, it pours. With this mindset, we understand that people sometimes need a little extra help, but we don't take advantage of the situation either. We are committed to responsible lending practices, and we have a swift, paperless/faxless application process that should take you five minutes (tops!) to fill out.

We don't have hidden fees and our terms are clearly stated, so we don't try to trip you up. Plus, we can deposit money into your bank account as soon as the same day!

Apply For Your First Loan

So, you've decided that a small first time loan is right for you? Great! Apply for your first loan with us today - our process is quick and simple and doesn't require mountains of paperwork.

Frequently Asked Questions

Need a little more information about Sunshine Loans and our processes? Here are a few of our most common questions.

Can I get a loan on Centrelink benefits?

In order to apply for a first time loan with Sunshine Loans, we require you to be earning at least $400 per week. This can be a combination of income and government benefits, but it cannot be from Centrelink alone.

Can I get a loan with no income?

Unfortunately, we cannot accept loan applications if you are not earning at least $400 per week.

Can I get a loan if I just started working?

Absolutely. You just need to show us that you have the means to comfortably repay your loan on your current budget.

Don't take our word for it - here's what our Sunshine Loans customers had to say.

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