Westlake Expands to New Asset Class

Los Angeles-based Westlake Capital Finance (WCF), the commercial lending entity & subsidiary of Westlake Technology Holdings, has funded a $40 million revolving credit facility with one of the country’s largest solar companies, showcasing WCF’s foray into the solar loan asset class.

“This transaction aligns with our objectives here at Westlake Capital Finance,” stated Ryan Drew, Director of Asset Based Lending, WCF. “WCF hopes to provide financial flexibility to businesses looking to innovate and serve a greater purpose. The solar company’s business model fits the profile of companies we look to finance as they continue to raise environmental awareness through their business.”

The company’s tremendous success in the automotive space has allowed it to explore expansion into new asset classes including those that are in the renewable energy category.

WCF intends to build an even larger portfolio with similar transactions spanning a multitude of new spaces in the coming years.

“This transaction highlights our ability to be capital partners in burgeoning sectors such as renewable energy,” said Kelechi Ogbunamiri, Chief Investment Officer, Hankey Group. “We worked closely with the solar company’s team to structure a bespoke financing facility to fit their specific business needs and fuel the future growth of the business.”