Credit Suisse and a fund managed by Neuberger Berman closed a secured debt facility for West Creek, a consumer financing provider. The facility increases West Creek’s funding capacity by more than 30%, enabling its originations plans for 2021 and 2022.
Sector Financial, an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility.
“We plan to use the additional credit facility to serve even more customers, enabling them to access the essential items they need,” Rajesh Rao, CFO and chief risk officer of West Creek, said. “West Creek’s focus on machine learning-driven credit decisioning, frictionless user experience and world class customer support enhances the way our customers finance essential purchases. An additional funding capacity will go a long way toward expanding our reach and allowing us to continue our growth trajectory.”
Founded in 2014, West Creek provides point-of-sale financing in retail stores nationwide, with a focus on furniture, mattress, appliance, tire and HVAC system retailers.