Personal Touch Financial Services (PTFS) has closed its secured loan business Needaloan which it acquired in June 2008 due to the current economic climate and lack of funds in the secured loan market.
However, the network will still offer secured loans through a white label proposition with Gateway2Finance who will employ the staff at Needaloan.
Dev Malle, sales director at PTFS, said: “We have taken the decision to close Needaloan. We have put a solution in place and Gateway2Finance will manage all the pipeline business and pay all broker commissions.”
