Loans with flendr

Why use flendr?

• Flendr sets up loans between friends and family, so no need to run to the banks

• You decide on the repayment agreement, creating a flexible way that is convenient for you to repay your lender

• You can receive smaller loans from multiple people in order to reach your target amount without owing one person a large sum of money

How it works • Set up. Create an account for money transfers and 'borrowing

activity' e.g deposit for a car. List how much you need, for how long, frequency of repayments, and if you want to pay back extra 'thank yous' to your friends (an added % of what they lend).

• Invite friends and family. Send them personalised emails and links to your Loan Page. We'll ping you every time a contribution is received.

• Get funded. When you've reached your target, we'll release your funds and automatically handle money transfers in and out, repayments and reminders through your Flendr account.

Flending

• Control and no awkwardness - auto reminders and tracking through a secure system

• Agree and record loan details, and transfer money securely online

• Why pay the bank interest when you could reward supportive friends and family?

The money hub between family and friends

Safe & Secure

• We maintain Flendr customer accounts at NatWest in London

• These are designated accounts - for the sole purpose of holding funds for the named Flendr customer.

• We transfer money out (generally by BACS) to your chosen bank account.

• We also employ information systems design, testing and verification standards and requirements in accordance with good industry practice to ensure that credit cards, debit cards and other payment types are debited correctly.

Flendr Fee

• We do charge a small fee for using our service - which is a flat, low rate.

• Borrowers pay just £1 per lender, regardless of the amount of money that is being lent or the time it is lent for.

• Bank transfers in and out of your Flendr account are free.

• However, if a credit or debit card is used, the standard 2% processing fee will be charged by the card company.