The Quick Loan Shop (Ltd): Miss Payday, Sunshine Credit, The Quick Loan Shop and Wee Loans
History and Ownership
The Quick Loan Shop Ltd was formed back in 2012. This organisation has remained small over time with just a handful of employees. This Wycombe-based venture was developed by Stuart Salter and is today made up of 4 lending brands plus a few comparison sites. The Alexa data collected in our comparison showed that their active sites are very quiet on the traffic front. This is the result of minimal advertising that is a shame since there are some impressive interest rates to be found that beat many of the big name lenders. The central brand is The Quick Loan Shop that shares the owner’s full name at www.thequickloanshopltd.co.uk.
Instalment loans are available through this central company whilst a fixed monthly term is set at Miss Payday, Sunshine Credit and Wee Loans. This trio isn’t developed well. There is for instance no encryption or logins across the range and the designs look very dated. Sunshine Credit is at least a standout offering whereby you’ll find the cheapest payday loan for bad credit at just 0.4% daily. As well as lending, the owner has a keen focus on brokering through comparison portals such as LenderSeekers and The Lenders List. This is a savvy way to promote their own lending ventures as well as their rivals where they can earn commissions on referrals.
Info: Miss Payday Loans
www.miss-payday.co.uk (Alexa UK Rank: No Ranking)
Developed in 2013 in a feminine style that we’d see as being modelled on Money Gap’s Cash Lady brand that itself was formed in 2011. The site design is an improvement on Sunshine and Wee, but there is nothing distinguishable about the product itself. Between £100 and £500 is made available over a month. Interest meets the cap and so over 30 days a £24 per £100 charge applies. Brand popularity is low here. They are performing a little better than the other smaller sites on traffic, but the basic specs both here and at Wee makes you wonder what is the point in keeping each running with no such USP for potential customers.
Info: Sunshine Credit Loans
www.sunshinecredit.co.uk (Alexa UK Rank: No Ranking)
Sunshine Credit is the owner’s newest release that was set on the market in April 2016. Alike Miss/Wee, the same product is packaged. The single difference is much better pricing in place. Instead of paying £24 per £100 the monthly cost is split to just £12. It clearly states that bad credit is accepted and so this is the cheapest subprime deal on the market (the cheapest prime offer comes from Drafty). The great value makes this an attractive lender. The fact that no login or SSL is used on a simple looking site is disappointing though, based on its new age and the effort that has gone into their comparison portals.
Info: The Quick Loan Shop Loans
www.thequickloanshopltd.co.uk (Alexa UK Rank: No Ranking)
The Quick Loan Shop arrived in early 2012. A monthly payday loan was made available from launch with competitive pricing. The charge imposed monthly per £100 was £25 that was inclusive of a fast transfer. Unlike many firms, FCA capping wasn’t a major issue here as they only had to change that £25 to £24 to meet the new regulations. Regardless of this, the decision was still taken to revamp and target instalment terms. Customers can still access between £100 and £500 over a month. The amounts of £400 to £2000 are then made available across 3 to 12 months that is where the best value can be sourced.
Our instalment lender comparison analyses prices per £300. Obviously, the starting sum here is £400 and so we have had to split their £600 examples. These are £152.28 (3 months) and £281.10 (6 months) that would split as £76.14 (3m) and £140.55 (6m). These are some of the best instalment deals available today. It would be advised to skip a lump sum like £1000 over a year as the cost of £957.20 is certainly expensive. There is a Quick Loan Shop login built into the site (there are no such logins on their other projects). There was however a current configuration issue with SSL (no green Secure badge as you’ll see on Likely Lenders).
Info: Wee Loans
www.weeloans.co.uk (Alexa UK Rank: No Ranking)
Wee is the 2nd least popular group site. The Alexa global rank was almost 8 million that suggests very low activity and any change on this front would appear unlikely. As the case with Miss, the site was put together in 2013. The product is matched on sums of £100 to £500 over the month with that same charge of £24. The site’s design is again lacking here. It looks like they are going for some kind of fantasy theme. Just to note with this and every other project from the owner that there are never any opening times shared. Monday to Friday during standard working hours (9am-5pm) are assumed.
Reviews: Feefo, Review Centre, Reviews and Trustpilot
Several Quick Loan Shop reviews were left on Review Centre. Those posted on the page were all positive praising the flexibility and the value provided. Even this core property isn’t too busy and so as expected there was no feedback for any of the other lending sites belonging to the owner. This is a shame as it would be good to get a taster of how people are finding Sunshine and whether they are qualifying for that cheap deal with a low score.
For lenders like The Quick Loan Shop a good shout would be Kabayan Finance. You can borrow monthly or over a year with them alike here. Kabayan’s costs are also very competitive. The only cheaper subprime lender over 3 months is Track Loans. They and Fair Finance are cheaper over 6 months. The main problem with Fair Finance is that they require branch visits across the London area. H&T, MyJar and Satsuma are all notable alternatives on the flexibility side. Sunshine Credit is the cheapest bad credit payday loan. The only cheaper options are Drafty at £5.40 and Tappily at £10.20 but they’d each require polished credit profiles.
The Plus Points
This is the first group that we have compared that has 4 active trading brands. They are the smallest group profiled, but we thought that it would be important to raise attention to Sunshine’s low monthly rate and the Quick Loan Shop’s low instalment rates. Term flexibility and value is notable with QLS, but there aren’t any further plus points. The lack of SSL on 3/4 sites isn’t really acceptable in this modern day considering that any webmaster has free access to Let’s Encrypt that takes just a few hours to integrate. The strange thing is that their comparison site (The Lenders List) does have SSL and it is actually developed to a high standard.
Last Updated: January 5th, 2018.