Westlake Capital Finance issues $40 million credit facility. Extends to an additional asset class!
LOS ANGELES, June 08, 2022–(BUSINESS WIRE)–Westlake Capital Finance (WCF), the commercial lending entity and subsidiary of Westlake Technology Holdings, has funded a $40 million revolving credit facility with one of the nation’s leading solar companies , highlighting WCF’s expansion into the solar lending asset class.
“This transaction aligns with our goals here at Westlake Capital Finance,” said Ryan Drew, director of asset-based lending at WCF. “WCF hopes to provide financial flexibility for companies looking to innovate and serve a larger purpose. The solar business business model fits the profile of the businesses we seek to fund as they continue to raise environmental awareness through their business.
WCF’s success in the automotive space has allowed the company to explore expansion into new asset classes such as those in the renewable energy category. In the coming years, WCF intends to build a larger portfolio with similar transactions in a multitude of new spaces.
“This transaction highlights our ability to be capital partners in growing sectors such as renewable energy,” said Kelechi Ogbunamiri, Chief Investment Officer of Hankey Group. “We worked closely with the solar company team to structure a bespoke financing facility to meet their specific business needs and fuel the future growth of the business.”
Westlake Capital Finance offers credit facilities and commercial real estate loans. Those interested in learning more about Westlake Capital Finance can visit https://www.westlakefinancial.com/other-finance-solutions/#credit-lines or call 877.693.8636.
About Westlake Technology Holdings
About Westlake Technology Holdings: Westlake Technology Holdings is an automotive and financial technology company headquartered in Los Angeles, California with approximately $15 billion in assets under management. Westlake Financial (“Westlake”) originates indirect automotive retail contracts through a nationwide network of new and used automobile and powersports dealerships. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio management through Westlake Portfolio Management (WPM); floor plan lines of credit are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; cash flow shared auto lending 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; and commercial real estate loans are offered by Westlake Capital Finance.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220608005260/en/
David Goff, Vice President, Marketing
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