paddy
The loan you took out was one governed by the Consumer Credit Act. This requires the lender to give you certain written information, including the length of time the loan is to be repaid over, & the amount of each repayment.
Welcome's business may not have been well managed, but I doubt very much that they would have given you the loan without complying with these mandatory requirements of the Act. If they did, then you should have read the document & seen how long the loan was for. If they didn't, you need advice because the loan might be unenforceable.