LOS ANGELES — Westlake Financial Services has reached a significant milestone of $2 billion in total receivables with more than 270,000 customer accounts. The achievement was met in July 2014, which was the best production for July in Westlake history.
“Having a portfolio of $2 billion dollars is a huge accomplishment,” said Don Hankey, chairman of Westlake Financial Holdings. “It is a reflection of all the hard work of our dedicated employees as we continue to strive to grow every year and provide products that allow our dealer partners to help finance all customers.”
This milestone shows tremendous growth in the company. During the economic recession Westlake reached $450 million in 2009 and $1 billion in 2011. Westlake officials attribute the company’s success to its flexible products, diverse services, technology, financial partners, lasting relationships with independent dealers and expanding service into the franchise market.
“We continue to focus on providing robust and flexible financial products for our customers, and that continues to help us in the market,” said Ian Anderson, group president of Westlake Financial Holdings. “In 2009, we were a $450 million dollar company, and now we are five times that size because of our employees and our dealer partners.”
Westlake Financial Services is continuing to focus on building dealer relationships in all 50 states. Westlake partners with Nowcom to provide automated full spectrum financial products and dealer management systems through DealerCenter.