RICHMOND, Virginia., February 15, 2021 / PRNewswire / – West Creek, a fast growing consumer finance provider, has entered into a new secured credit facility from Credit Suisse and a fund managed by Neuberger Berman. Sector Financial, a subsidiary of Credit Suisse, provided access to the Credit Suisse credit facility. This new facility increases West Creek’s financing capacity by more than 30%, enabling its creation plans for 2021 and 2022.
âWe plan to use the additional credit facility to serve even more customers, allowing them to access the essential items they need,â said Rajesh rao, Chief Financial Officer and Chief Risk Officer. âWest Creek’s focus on machine learning-based credit decisions, frictionless user experience and world-class customer support improves the way our customers finance essential purchases. Additional financing capacity will go a long way in expanding our reach and allowing us to continue our growth path. “
Founded in 2014, West Creek is a point-of-sale finance fintech platform that leverages technology and machine learning to help consumers make essential purchases. West Creek partners with more than thousands of retailers nationwide to help customers purchase essentials including furniture, mattresses, appliances, tires and HVAC systems.
Learn more about West Creek
West Creek provides point-of-sale financing in retail stores nationwide, with a focus on furniture, mattresses, appliances, tires and HVAC retailers. The company leverages big data and machine learning to optimize its credit modeling and underwriting, enabling it to deliver industry-leading approval rates and amounts. West Creek was built on the foundation of excellent customer service, which continues to be a pillar of their business today, and a primary reason for their success. For more information, visit www.westcreekfin.com.
Learn more about Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent and employee-owned investment manager. The company manages a range of strategies, including equities, fixed income, quantitative and multi-asset classes, private equity, real estate and hedge funds, on behalf of institutions, advisers and individual investors around the world. With offices in 24 countries, Neuberger Berman’s diverse team consists of more than 2,300 professionals. For six consecutive years, the company has been named first or second in the Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 or more employees). In 2020, the PRI named Neuberger Berman Leader, a designation awarded to less than 1% of investment firms for excellence in their environmental, social and governance (ESG) practices. The PRI also awarded Neuberger Berman an A + in each eligible category for our approach to ESG integration across all asset classes. The company manages 405 billion dollars in customer assets at December 31, 2020. For more information, please visit our website at www.nb.com.
SOURCE West Creek Financial