West Creek Financial is a company using big data analytics that make it easier for consumers to get approved on lease-to-own loans. Through the use of proprietary software, the company not only speeds up the process of applying for and receiving a loan, but it simultaneously makes the mechanisms of the decision more transparent for the consumers going through it.
West Creek Financial offers loans for lease-to-own financing on home appliances, furniture, and mattresses. The company has hundreds of retailers working with it. These retailers are divided between small local businesses (West Creek Financial is located in Virginia) and larger chains.
Thanks to its proprietary software, the lender offers a 70 percent approval rate while still limiting its risk. Further, if a consumer is denied, the company is able to offer a reasoning for that decision -- whereas many other lenders will deny and never say why.