Westlake Capital Finance (WCF), the commercial lending entity & subsidiary of Westlake Technology Holdings, funded a $40 Million revolving credit facility with one of country’s top solar companies, highlighting WCF’s expansion into the solar loan asset class.
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“We worked closely with the solar company’s team to structure a bespoke financing facility to fit their specific business needs and fuel the future growth of the business.”
“This transaction aligns with our objectives here at Westlake Capital Finance,” stated Ryan Drew, Director of Asset Based Lending at WCF. “WCF hopes to provide financial flexibility to businesses looking to innovate and serve a greater purpose. The solar company’s business model fits the profile of companies we look to finance as they continue to raise environmental awareness through their business.”
WCF’s success in the automotive space has enabled 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 across a multitude of new spaces.
“This transaction highlights our ability to be capital partners in burgeoning sectors such as renewable energy,” said Kelechi Ogbunamiri, Chief Investment Officer of the Hankey Group. “We worked closely with the solar company’s team to structure a bespoke financing facility to fit their specific business needs and fuel the future growth of the business.”
About WestlakeTechnology Holdings: WestlakeTechnology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $15 billion in assets under management. WestlakeFinancial (“Westlake”) originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and power sports dealers. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio servicing through Westlake Portfolio Management (WPM); floor plan lines of credit are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; shared cash flow auto lending through Westlake’s wholly-owned subsidiary, Western Funding Inc., a Nevada based auto lender; indirect automotive 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 lending is offered through Westlake Capital Finance.