LAS VEGAS–(BUSINESS WIRE)–Western Funding Inc. (WFI), a subsidiary of Westlake Technology Holdings, announces record growth in portfolio disbursements, loan portfolio, loans originated and manufacturing merchants for 2021.
Throughout 2021, WFI showed clear achievements:
$3.5 million in portfolio payouts to over 200 participating merchants
100% takeover of e-contracting
52% YOY growth in its loan portfolio
49% year-over-year growth in loans originated
47% YOY growth among manufacturing traders
“These achievements are a testament to Western Funding’s focus on improving its programs, reducing funding time and improving the lending experience for all participating merchants,” said Ian Anderson, Group President, Westlake Technology Holdings. “We look forward to 2022 and anticipate another impactful year of growth for WFI.”
In addition, Western Funding embraced a set of values designed to solidify a culture critical to achieving long-term business goals. The values denoted by the FASTER acronym are Fun, Accountable, Strategic, Team-Oriented, Efficient, and Respectful. Western Funding believes that by incorporating these values into its day-to-day operations, it will continue to create value for participating merchants and consumers.
“I’m very proud of the entire Western Funding team,” said Jim Murray, President of Western Funding. “Building a strong culture is difficult, but our team recognizes that investing in a strong culture increases the likelihood of delivering the innovation needed to better serve our customers in the future.”
Western Funding expects continued growth in 2022 by further enhancing its program, adding near prime and prime credit segments, and reaching new merchant segments. WFI will also implement a program designed to officially recognize and reward its top traders. Visit www.westernfundinginc.com/ for more information.
About Westlake Technology Holdings
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and financial technology company headquartered in Los Angeles, California with approximately $15 billion in assets under management. Westlake Financial (“Westlake”) awards indirect automotive retail deals through a nationwide network of new and used car and powersports dealerships. Westlake also offers loan portfolio purchasing, credit facilities and portfolio services through its ALPS (Advanced Lending & Portfolio Services) division, www.WestlakeALPS.com; Floor plan credit lines are provided through the Westlake Flooring Services Division, www.WestlakeFlooringServices.com; co-cash flow auto loans through Westlake’s wholly owned subsidiary Western Funding Inc., a Nevada-based auto lender; indirect auto leasing for credit unions through Westlake’s subsidiary Credit Union Leasing of America (CULA); Dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; Consumer installment loans are offered through Westlake’s wholly owned subsidiary, LoanCenter, www.loancenter.com; Commercial real estate financing is offered through Westlake Capital Finance.