LOS ANGELES--(BUSINESS WIRE)--Westlake Advanced Lending & Portfolio Services (ALPS), a division of Westlake Financial Services, announces the completion of a $2.5 Million revolving credit line facility with Wholesale Direct, LLC, in Greenville, South Carolina.
“We are enthusiastic about our new partnership with Wholesale Direct,” stated Todd Laruffa, Vice President and division head of ALPS. “Wholesale Direct is a unique, well-established and community-friendly dealer. Under Cesar Perelli’s leadership, they have built a loyal family of repeat customers. I have no doubt that this partnership will be advantageous to both parties.”
Westlake ALPS’s credit facility will supplant U.S. Auto Credit, Auto Bank and AFC as Wholesale Direct’s exclusive funding source. This will allow the company to accelerate receivables growth for the next 2 years.
“I am very happy to be working with Westlake. They really took the time to show me why their credit line was the superior product, compared to those of other companies,” commented Cesar Perelli, Member of Wholesale Direct, LLC. “The Greenville County community is my family, and I will be able to better serve them in the future because of the ALPS credit line.”
Westlake Financial Services’ ALPS division specializes in providing revolving credit lines to independent dealers throughout the United States, and performing and distressed sub-prime loan portfolio acquisitions from Buy-Here Pay-Here (BHPH) dealerships and finance companies. Dealerships, brokers, and finance companies interested in learning more about Westlake’s ALPS are invited to contact ALPS directly at 1.888.937.2577 or online at www.westlakealps.com.
About Westlake Financial Services: Westlake is an internet based, privately held finance company that specializes in the acquisition and servicing of prime to sub-prime automotive retail installment contracts. Headquartered in Southern California, Westlake originates indirect retail installment contracts through a network of over 20,000 new and used car dealers throughout the United States. Westlake also offers portfolio purchasing through its ALPS division (Advanced Lending & Portfolio Services): www.WestlakeALPS.com. All collections and servicing functions are performed in-house at its headquarters located in the Mid-Wilshire area of Los Angeles.