Westlake Advanced Lending & Portfolio Services (ALPS), a division of Westlake Financial Services, announced last week the formation of a $3.5 million revolving credit line with Star Finance Inc., according to a press release from Westlake. The Hot Springs, Ark.-based company is an affiliate of Lloyd’s Auto Sales Inc., a buy here, pay here dealership chain with stores throughout Arkansas.
Westlake’s ALPS division specializes in providing revolving credit lines to independent auto dealers, buy here, pay-here dealerships, and finance companies throughout the U.S., according to the release.
The agreement, which will be in effect for the next two years, will replace a previous agreement between Lloyd’s and Capital One Auto Finance, according to the release.
