As one subsidiary of Westlake Technology Holdings posted records in the vehicle leasing space last year, another of its subsidiaries that specializes in shared cash flow auto lending generated new company records in 2021, too.

According to a news release, Western Funding compiled record growth in portfolio payouts, loan portfolio, loans originated and producing dealers for 2021.

Those new high-performance metrics include:

— $3.5 million in portfolio payouts to over 200 participating dealers

— 100% adoption of e-contracting

— 52% year-over-year growth in its loan portfolio

— 49% year-over-year growth in loans originated

— 47% year-over-year growth in producing dealers

“These successes are a testament to Western Funding’s focus on improving its programs, reducing funding time, and making the loan origination experience better for all participating dealers,” Westlake Technology Holdings group president Ian Anderson said in the news release. “We are looking forward to 2022 and anticipate another impactful year of growth for WFI.”

Additionally, Western Funding explained how it adopted a set of values designed to solidify a culture critical to meeting long-term business objectives. The values, referred to by the acronym FASTER, are:

Fun
Accountable
Strategic
Team-oriented
Efficient
Respectful

By implementing these values into its day-to-day operations, Western Funding said that it will continue to create value for participating dealers and consumers.

“I’m extremely proud of the entire Western Funding team,” Western Funding president Jim Murray said. “Building a solid culture is hard but our team recognizes that an investment in a strong culture will increase the likelihood of delivering the innovation needed to better serve our customers in the future.”

Western Funding said it expects continued growth in 2022 by continuing to improve its program, adding near- prime and prime credit segments and reaching out to new dealer segments.

The company added that it will also introduce a formal program this year designed to recognize and reward its top dealers.

For more information, visit www.westernfundinginc.com.