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Credit Suisse, Neuberger Berman Close Senior Secured Debt Facility for West Creek

February 16, 2021, 07:50 AM
Filed Under: Lender Finance

West Creek, a fast-growing consumer financing provider, closed a new secured debt facility from Credit Suisse and a fund managed by Neuberger Berman. Sector Financial, an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility. This new facility increases West Creek's funding capacity by over 30% enabling its originations plans for 2021 and 2022.

"We plan to use the additional credit facility to serve even more customers, enabling them to access the essential items they need," said Rajesh Rao, Chief Financial Officer and Chief Risk Officer. "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 is a point-of-sale financing fintech platform that leverages technology and machine learning to help consumers make life-essential purchases. West Creek partners with over thousands of retailers nationwide to help customers in purchasing essential items, including furniture, mattresses, appliances, tires, and HVAC systems. 

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