Cattles is confident of its funding needs for the year

Specialist consumer lender Cattles moved to reassure that it had seen a strong start to the year and was on top of its funding needs despite the credit crunch.

The firm, based in Batley, West Yorkshire, said it was "confident" of being able to raise the remaining £100 million needed for its 2008 funding targets.

The group last month said it was making a £200 million cash-call to shareholders to bolster its finances amid the crisis in credit markets.

It confirmed it has also secured £200 million of the £300 million funding required this year from wholesale markets.

Cattles, which lends in the sub-prime market, is also in the process of applying to become a bank and said it hopes to raise £1 billion from savings deposits by 2010.