LOS ANGELES -

Sparked by the best July in company history, Westlake Financial Services announced this week that it reached $2 billion in total receivables.

Westlake’s portfolio now has that total receivables figure connected to more than 270,000 customer accounts.

“Having a portfolio of $2 billion is a huge accomplishment,” said Don Hankey, chairman of Westlake Financial Holdings. “It is a reflection of all the hard work of our dedicated employees as we continue to strive to grow every year and provide products that allows our dealer partners to help finance all customers.”

This latest milestone continues the growth the company has experienced through the latest recession. Westlake’s portfolio reached $450 million in 2009 and then $1 billion two years later.

As keys to success, Westlake Financial Holdings group president Ian Anderson highlighted the company’s flexible products, diverse services, technology, financial partners, lasting relationships with independent dealers and expanding service into the franchise market.

“We continue to focus on providing robust and flexible financial products for our customers, and that continues to help us in the market,” said Anderson, who is part of the stable of industry leaders who are part of the SubPrime Forum, the financing piece of Used Car Week.

“In 2009, we were a $450 million company, and now we are five times that size because of our employees and our dealer partners,” he continued.

Westlake Financial Services continues to focus on building dealer relationships in all 50 states. Westlake partners with Nowcom to provide automated full spectrum financial products and dealer management systems through DealerCenter.

“Our growth is made possible because of our strong relationships with banking partners such as Wells Fargo, JP Morgan, RBS, CSFB and Bank of America, to name a few,” Anderson said. “The backing of the Hankey Group, Marubeni and our relationships with business partners allows the companies of Westlake Financial Holdings to help dealers or returning Westlake customers in the market.”

Westlake Financial Services is a full spectrum finance company offering rates as low as 1.65 percent. Westlake serves all 50 states and offers solutions for all FICO scores.

“Westlake is in a unique place in the market where we can offer financial solutions for any dealership across the United States,” said Mark Vazquez, senior vice president of sales and marketing for Westlake Financial Services.

“We offer a full spectrum of products for a full spectrum of dealers brought by 300-plus dealer account managers motivated to help dealers sell more cars and make more money,” Vazquez went on to say.

Discussions about how companies such as Westlake Financial Services are growing are among the many topics on tap for the SubPrime Forum, which is set for Nov. 11 and Nov. 12 at the Red Rock Casino, Resort and Spa. The event orchestrated in collaboration with the National Automotive Finance Association is designed to foster dialogue about the competitive and regulatory environments as well as other elements critical to the subprime segment of the industry.

Details about the event’s agenda, registration and more can be found at www.usedcarweek.biz.