White Label Loans bows out of market

White Label Loans bows out of market


Just one week after Loans.co.uk announced that they were closing their doors, White Label Loans broke the sad news that they too are withdrawing from the market place.

Citing “market conditions” as their decision to close and denying it was for any other reason, managing director, Kam Sanghani stated that it was too early to tell if there would be any job losses.


Mr Sanghani said: "The current market conditions are proving difficult for funders to maintain a presence within the market and unfortunately we have little option but to cease lending.


"On this basis, we will be closing our website for new credit agreements from close of business on Friday 21 November 2008. Existing pipeline must be received and completed by 12 December 2008.


"The last twelve months have been difficult but satisfying especially in seeing the establishment of this business and I would like to take this opportunity to thank you for your support."


As secured loan companies drop like destitute flies, there seems to be little surprise at this announcement – and a lot of speculating as to which firm will be next.

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