United Companies Financial Corp. confirmed that it is still in discussions with potential strategic partners.

The subprime lender had said early last month that it was looking for a buyer or partner to help it secure affordable capital. Stock prices for many subprime lenders have halved since then, and other companies have put themselves on the market, fueling rumors that United Companies was unlikely to find a partner.

United Companies chairman and chief executive J. Terrell Brown said in a prepared statement that the search is "ongoing," and that he "expects a resolution in the next couple of weeks."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.