LOS ANGELES -

An operator who tries to sell used vehicles to credit-challenged consumers throughout Arkansas received a financial shot in the arm on Tuesday from Westlake Advanced Lending & Portfolio Services (ALPS).

Westlake ALPS, a division of Westlake Financial Services, finalized the formation of a $3.5 million revolving credit line with Star Finance of Hot Springs, Ark., an affiliate of Lloyd’s Auto Sales.

Westlake ALPS replaced Capital One Auto Finance as Lloyd’s exclusive institutional finance company, providing the operation with a secured revolving credit line to facilitate receivables growth for the next two years. Lloyd’s is an independent dealership based out of Hot Springs and serves the entire state.

“I was pleasantly surprised when I initially contacted Westlake,” Star Finance owner Lloyd Robertson said. “Right away, they were eager to assist me in securing a new line of credit. The entire process was easier than I ever expected, and they went above and beyond to expedite my deal and meet all of my financial needs.

“I now have much-needed capital at an affordable rate to help my portfolio grow and expand my business. I look forward to a long and healthy relationship with Westlake,” Robertson continued.

Westlake Financial Services’ ALPS division specializes in providing revolving credit lines to independent dealers throughout the United States. The division also acquires performing and distressed subprime loan portfolios from buy-here, pay-here dealerships and finance companies.

Forging relationships with operations such as Star Finance is the objective.

“We are excited to establish a partnership with Lloyd’s as they have proven to be a strong counterparty for Westlake Financial,” said Todd Laruffa, assistant vice president and division head of ALPS.

“Their business philosophy and growth strategy over the past 26 years is in line with Westlake’s vision, so we believe this partnership will be advantageous for both parties,” Laruffa added.

Dealerships, brokers and finance companies interested in learning more about Westlake’s ALPS can contact ALPS directly at (888) 937-2577.