Fund Ourselves (formerly called Welendus) short-term loans review

Fund Ourselves provides short-term loans "from the people to the people" – better known as peer-to-peer lending. Its platform matches borrowers in need of fast cash with investors looking for a return on their money.

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Fund Ourselves
Fund Ourselves and Welendus are the trading names for Fund Ourselves Ltd, a fintech company authorised and regulated by the Financial Conduct Authority (FCA). A peer-to-peer lender, it offers short-term loans of £100 to £1,500 to be repaid over terms of 21 days to 6 months.

Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.

Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

Calculate the cost of a Fund Ourselves loan

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How much do you need to borrow?


How long do you need to borrow for?


Name Product Available Amounts Monthly repayment Total payable Link
Fund Ourselves (Welendus) Short Term Loan
£100 to £1,500
Go to site
More Info
Representative example: Borrow £200 for 122 days at a rate of 211% p.a. (fixed). Representative 501.2% APR and total payable £286.82 in 4 monthly payments of £71.71.
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Compare up to 4 providers

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

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Fund Ourselves (Welendus) Short Term Loan

What is “peer-to-peer” lending?

Peer-to-peer (P2P) platforms aim to match creditworthy borrowers and trustworthy lenders who can borrow and lend short-term money directly to one another. The theory goes that by cutting out the big bank in the middle, with all its overheads, online P2P platforms can provide better rates to both borrowers and investors alike.

Although payday/short-term lenders are typically relatively open-minded when it comes to bad credit, P2P lenders tend to exercise greater caution. If you have bad credit, Fund Ourselves is unlikely to lend to you. Check out our guide to short-term loans for bad credit

Fund Ourselves loans – the key features

Product NameFund Ourselves (Welendus) Short Term Loan
Available Amounts£100 to £1,500
New customer maximum£800
Loan terms21 days to 6 months
Soft search eligibility check
Instant decision in most cases
Funding speedFund Ourselves aims to transfer the money on the same day for applications approved before 10 pm.
Repayment period optionsMonthly
Default repayment methodDebit card
Additional repayment methodsOnline payment
Repay early at any point
Parent companyPTP Funding Limited
FCA registration number729238
LinkGo to site

How does it work?

If you’re considering a Fund Ourselves loan, these are the main steps along the way:

  1. Choose the amount you wish to borrow and the term you can afford to pay it back over.
  2. Fill out the simple application form providing your personal, financial and employment details.
  3. Fund Ourselves will perform its own credit check on you based on the information you have provided and will calculate a custom credit score.
  4. Fund Ourselves will provide you with an instant decision, and if you have been approved before 10pm you can expect to receive the money in your bank account on the same day.
  5. Loans are paid by debit card. Alternatively, you can make an early repayment via the Fund Ourselves website.

What are the eligibility requirements?

Fund Ourselves states that it will consider your application even if you have bad credit history. To be eligible you must also:

ResidencyUK resident
Minimum age18
Applicant with CCJsYou must not have had any recent CCJs, IVAs or bankruptcy
Additional eligibility notesYou must have a valid UK bank account.
You must be Employed and have regular income.
LinkGo to site

Changing you loan: Additional borrowing options and early repayment

Repay early at any point
Repaying early can reduce overall interest
Multiple loans allowed at the same time
Phone number0800 368 9553
LinkGo to site

Should I take out a short-term loan?

If you’ve found yourself in financial difficulty of some kind, then a short-term loan could offer a quick, temporary fix. BUT, it’s a really expensive form of borrowing, and what’s more, even the lenders themselves normally admit that their loans simply aren’t the answer for longer-term or regular borrowing, or for people with serious debt problems.

So before you apply for a short-term loan from lenders like Fund Ourselves, it’s crucial to take a moment to ask your self a few things: Is the expenditure you’re planning absolutely essential? Can it be deferred? Have you thought about alternatives to short-term loans? If you’re struggling to pay a bill, then could you try talking to your utility provider to work out a payment plan?

You can find lots of useful information about managing debt and alternatives to short-term loans at the government’s moneyadviceservice.org.uk.

Did you know?

In 2015 the Financial Conduct authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.

They additionally capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.

Alternatives to Fund Ourselves

Alternatively, here are some other loan companies like Fund Ourselves (Welendus):

NameEstablishedLoan types
Fund Ourselves (Welendus) Short Term Loan Fund Ourselves (Welendus) Short Term Loan 2016 Instalment loans Go to site
Creditspring Membership Creditspring 2018 Instalment loans through membership scheme Go to site
Lending Stream Instalment Loan Lending Stream 2008 Instalment loans Go to site
The Money Platform Short Term Loan The Money Platform 2016 Peer-to-peer instalment loans Check eligibility
SafetyNet Credit Facility SafetyNet Credit 2015 Line of credit More info
StepStone Credit Account StepStone Credit 2017 Line of credit More info
Tappily Tappily 2017 Line of credit Go to site
Drafty Line of Credit Drafty 2015 Line of credit Go to site

Frequently Asked Questions

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