CHICAGO--(BUSINESS WIRE)--Victory Park Capital (VPC), an investment firm focused on private middle market debt and equity investments, announced today that it has provided a $25 million senior secured credit facility to West Creek Financial, Inc. (West Creek), a point-of-sale lease-to-own provider. The credit facility, along with the accompanying equity raise, will help support the company’s growth and its ability to provide under-banked consumers with affordable alternatives when purchasing durable consumer goods such as furniture, mattresses and appliances.
“West Creek’s management team is leveraging their significant credit and risk analytics expertise to capitalize on a unique niche within the broader non-bank financial services sector,” said Tom Welch, principal at VPC. “West Creek provides consumers with less-than-perfect credit or those with limited credit history a means to purchase essential home goods that they otherwise would not have access to.”
Based in Richmond, Virginia, West Creek is working on a national rollout of its rent-to-own solution. “We look forward to a long partnership with VPC given their knowledge and track record within the specialty finance industry,” stated Boomer Muth, CEO of West Creek. “Their investment will provide the growth capital to support portfolio expansion geographically and allow us to scale the platform within our target markets.”
About Victory Park Capital
Victory Park Capital Advisors, LLC (VPC) is an investment firm with a focus on alternative credit and a commitment to delivering attractive risk-adjusted returns and capital preservation for its clients. VPC provides privately negotiated debt and equity capital solutions to small and middle market companies across a wide range of industries. We target fundamentally sound businesses in need of liquidity and/or capital structure transformation and often take a leadership role in the financial restructuring process. VPC’s offerings leverage the firm’s special situations and credit structuring expertise and differentiated deal origination capabilities. The firm was founded in 2007 and is headquartered in Chicago, with resources in London, Los Angeles and New York. VPC is privately held and a Registered Investment Advisor with the SEC. For more information visit: www.victoryparkcapital.com.
About West Creek Financial, Inc.
Founded in 2014, West Creek provides a point-of-sale lease-to-own option for underserved customers, enabling purchases of durable goods such as furniture, mattresses, and appliances. The company utilizes big data and technology to optimize underwriting and deliver industry leading approval rates. For more information visit West Creek’s website at http://westcreekfin.com/ or contact Bob McCarthy at bob.mccarthy@westcreekfin.com for Business Development opportunities.
