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Westlake Launches Cash Now Pay Later

·2 min read

LOS ANGELES, October 22, 2021--(BUSINESS WIRE)--Westlake Technology Holdings launches Cash Now Pay Later, an exciting new product that provides financial flexibility to its customers by enabling them to borrow cash today and pay it back at a later date. Cash Now Pay Later is currently being piloted by Westlake to its more than 1 million existing customers and has resulted in a high demand for the program since the launch.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211022005463/en/

"Westlake recognized a need to provide its established customers with a simple online solution to get cash now," stated Jim Eyraud, Vice President at LoanCenter. "Pre-approved offers for financing can be redeemed by existing Westlake customers through a fully automated online process on the MyAccount mobile app," he added. This quick and easy process helps to offer consumers the financial flexibility support they need.

Westlake plans to expand Cash Now Pay Later nationwide through LoanCenter.com. Under the expanded program, customers will be able to personalize their Cash Now Pay Later structure and select amounts between $500 and $5,000. After e-signing, money is deposited into the customers bank account within a couple of hours.

"The goal of LoanCenter.com is to provide lending solutions to help borrowers through any financial situation. The Cash Now Pay Later program is a great compliment to the current auto and secured loan offerings on LoanCenter," added David Goff, Vice President of Marketing at Westlake.

Cash Now Pay Later will be available on LoanCenter’s website in Q4 2021. To learn more about LoanCenter, visit: www.loancenter.com.

About Westlake Technology Holdings

About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $15 billion in assets under management. Westlake Financial ("Westlake") originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through its ALPS division (Advanced Lending & Portfolio Services), www.WestlakeALPS.com; floor plan lines of credit are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; shared cash flow auto lending through Westlake’s wholly owned subsidiary, Western Funding Inc., a Nevada based auto lender; indirect automotive leasing for credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; consumer installment loans are offered through Westlake’s wholly owned subsidiary LoanCenter, www.loancenter.com; and commercial real estate lending is offered through Westlake Capital Finance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211022005463/en/

Contacts

For more info, contact:
David Goff, VP, Marketing
dgoff@westlakefinancial.com

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