Central Trust To Start Offering Secured Loans Once Again
Following the demise of several loan companies over the course of the past few years, largely due to the effects of the credit crunch and lack of wholesale funding for the loan industry as a whole, it is good to see some positive signs of recovery and one or two lenders starting to return to the market place once again and reintroducing a new range of secured loans for individuals.
The secured loan provider and master broker Central Trust has just announced that it is to start offering secured loans and second charge home owner loans to customers, due to obtaining a new credit stream facility.
Central Trust, which is based in Norwich, has arranged a joint deal with the Royal bank of Scotland (RBS) and the National Australia Bank to secure funding of £90 million as a credit facility, which it will use to develop its future business plans and also to provide a range of secured loan products and second charge home owner loans to customers, allowing future growth.
Andrew Turner of Central Trust said “It is a testament to our business model, our reputation and resilience in these tough economic times. It is also an endorsement of the strength of proposition that we create for our customers and their requirements. The new funding puts us in a very strong position for 2010. It allows us to invest further in the development of a wider product range and provides the financial platform that we believe will allow us to take advantage of the predicted improvements in the economy as they come through later in the year.”
