Western Financial Reviews - Financial Lender Pros & Cons

miriam-elbaz writer
By Miriam Elbaz
Updated October 15, 2018
Editor's Rating
Commercial Truck Lender
Customer Rating 27 Reviews
Types of loans
  • Capital equipment financing
  • Small business working capital
  • Business line of credit (LOC)
  • Merchant cash advance (MCA)
Loan amounts
  • $10,000 to $2 million business LOC
  • MCA capital based on prior sales
  • 100% equipment financing
Terms of payment
36 to 60 months
  • Same-day or next-day approval
  • Provides funding to high-risk industries
  • Possible 24-hour turnaround time for equipment financing
  • May take 5 or more business days to receive funding
  • Term and rate information not available on the website
  • Merchants must contact the lender for full loan fee details

What businesses are the best candidates for loans from Western Financial?

Western Financial provides funding for businesses in a diverse range of industries, including high-risk vocations like transportation and construction. Businesses without the financial strength or positive credit profile required to obtain a bank loan may be candidates for a loan from this lender. Transportation and health companies in need of equipment leases can inquire about Western Financial’s equipment financing options.

Company Profile

Western Financial was established in 2009 and is currently located in Orange, California. As a small business loan and equipment financing provider, it offers funding to merchants in the U.S. and Canada seeking alternatives to banks and other large lending institutions.

Western Financial serves many high-risk industries, including transportation and construction, and prides itself on innovation. Citing the use of “cutting-edge technology” to help merchants “unlock their business potential,” Western Financial seeks to position itself as an exceptional player in the online lending space.

Although the website speaks strongly of the lender’s focus on the individual and its drive for results, as of this writing, many of the links on the site fail to work, and the latest blog post stating the site is being updated was written in 2014. However, the company is still actively lending to merchants and can be contacted via phone or its online form.

Credit Policy

No specific credit score requirement is given by Western Financial, but the “Financial Calculator” on the lender’s resource page allows interested merchants to select anywhere from “poor” to “excellent” when estimating payments on the desired amount of a loan. This suggests Western Financial is willing to work with companies struggling with low credit.

Considering the full financial picture of a company is a typical practice for alternative lenders. Most businesses seeking funding from lenders like Western Financial don’t meet the qualification requirements of traditional lending institutions and have a better chance of obtaining funding from a source that will look at more than just a FICO score as a measure of determining eligibility.


The diverse range of industries to which Western Financial lends indicates its willingness to take on a greater level of risk than many other lenders. Although no particular exceptions are stated, alternative lenders are usually open to trying to find a loan product even for companies not meeting the minimum qualification requirements. Merchants in challenging financial situations would need to contact Western Financial to find out if the company is able to approve funding.

Target Market

According to its website, Western Financial works with the following industries and business types:

Cautionary Industries

Many of the businesses with which Western Financial works aren’t serviced by other alternative lenders and are likely to be turned down by banks because they’re considered high-risk investments. Transportation, non-profits, legal services and some types of automotive businesses have few options when it comes to financing, especially if credit is less than ideal.

Because of the lender’s willingness to consider funding these industries, companies with unique financial needs, poor credit or high-risk markets may be able to obtain loans from Western Financial. Calling the company to discuss the type and amount of funding needed is the best way to determine if an appropriate loan product is available.

Term Length

According to the Western Financial payment estimate calculator, terms for loans range from 36 to 60 months. This is longer than the average terms offered in the alternative lending industry and gives merchants a little more leeway in paying off loans. However, because the payment estimation tool doesn’t include a loan type, it’s difficult to determine how monthly obligations differ between working capital and equipment leasing options.

According to the calculator, a business with good credit taking out a $150,000 loan for 60 months would have an average monthly payment of $3,005. With 36-month terms, the payments jump to $4665 per month. These numbers provide a basic idea of how to budget for each monthly installment.

With a revolving business LOC, payments are made only on what a merchant draws from the credit line and not the full amount of credit available. MCAs have no specific terms or due dates and are instead structured to provide a lump sum at the start of the loan which is then paid back in daily installments until the principal and fees have been paid in full.

What’s Required to Apply

There are two ways to start the lending process with Western Financial: complete the online application or call for a quote. Applying online requires merchants to provide:

For each current owner, the application also requests:

Once an application is submitted, Western Financial reviews the details and should approve qualifying businesses the same day or the next day. Approved merchants are contacted by an account manager with a loan offer, and the loan documents are sent for review. If a merchant accepts the offer, the documents are signed and returned. Western Financial wires funds electronically into the merchant’s accounts within five days of receiving the completed documents. Turnaround time for equipment funding can be as fast as 24 hours.

Business LOCs and equipment loans require collateral to secure the amount Western Financial approves. The lender uses the equipment being financed as collateral for the loan and offers a variety of options for securing its LOCs, including real estate.

Factor Rates

FWestern Financial doesn’t list much rate information on its website aside from noting rates on its equipment loans are fixed and no down payment is required at the time of funding. Merchants looking for more information must either fill out an application or call the company, as there is no way to request a quote online.

Using the lender’s financial calculator, it’s possible to get an idea of loan rates associated with various credit levels and term lengths. Inputting a fixed amount and changing the variables indicates merchants can expect rates between 1.08 and 1.43 depending on the financial strength of the business.

Western Financial offers both fixed and flexible repayment options, including the traditional MCA payment structure of a fixed daily percentage of credit card sales. It’s advisable for merchants to use the financial calculator to estimate monthly obligations before deciding whether to apply.


Western Financial doesn’t state any particular policy regarding stacking, but taking out loans from multiple providers isn’t often welcomed by alternative lenders. Merchants already carrying loan debt, especially those with poor credit or operating in high-risk industries, are more likely to miss payments or default, creating more risk for the lender.

However, because Western Financial provides more than one type of loan and is in the business of funding equipment, merchants with diverse financial needs should inquire whether the lender will extend more than one loan at a time. This may be necessary for medical companies, construction companies or fleet operators needing to purchase multiple pieces of equipment at once or those seeking to invest in extensive growth.

Merchants must keep in mind each loan has its own fees and terms, and taking on several monthly payments at once could lead to bigger debt problems instead of the growth desired.

Documentation Fees

No documentation fees are listed on the Western Financial website; however, an additional cost for processing loan or lease paperwork may apply.

Origination Fees

It’s unclear whether Western Financial charges origination fees on loan products.

Renewal Policy

On its website, Western Financial states merchants may qualify for “additional capital” before paying off existing loans. How much needs to be paid off and the exact terms required to qualify isn’t explained. A common practice among alternative lenders is to require at least 50 percent of a loan to be paid back and for the business to have maintained or improved the financial profile presented at the time of the initial loan.

Merchants with a business LOC through Western Financial have a continual source of working capital thanks to the revolving structure of the loan. Each time a payment is made, available credit is replenished; therefore, no renewal is needed.

Interest Forgiveness

Few alternative lenders offer interest forgiveness, and Western Financial doesn’t indicate that it extends this type of financial relief to merchants. When loan fees are based on fixed buy rates and not percentages, there’s no benefit to paying back early. Some lenders have the opposite policy and charge a prepayment penalty.

The structure of equipment leases requires fixed monthly payments over a predetermined period of time, so merchants don’t have the option of settling the lease before the end of the terms.

Loan Use

Because Western Financial offers several different funding options, merchants can choose the loan type most suited to their needs.

Capital equipment loans are for “most equipment types” used in the industries the lender serves. This financing can be used to:

Approved merchants receive 100 percent financing, allowing for the purchase of equipment without putting a strain on the company’s budget. Funding may also be beneficial if a limited-time deal on equipment is offered at a point when a merchant isn’t able to cover the full purchase with existing finances.

Western Financial’s LOCs and MCA loans can be used for “any business purpose,” including:

Merchants with ongoing funding needs may benefit most from an LOC. MCAs are best when cash is needed immediately but sales are expected to pick up in the near future.

Online Reputation

Very little feedback regarding Western Financial is available online. The company appears to have no presence on social media and hasn’t claimed a Google or Yelp profile.

Specific loan information on Western Financial’s website is difficult to find, and the site appears to have been in the redesign phase since 2014. Along with the lack of social media profiles and reviews, this presents a challenge for merchants trying to compare multiple loan options. At this time, contacting the company directly is the only way to find out more about its loan process and determine the level and quality of customer service provided.

Licenses & Accreditations

Western Financial has been accredited by the BBB since 2015 and maintains an A+ rating.

Company Contacts Details

Phone number:


Key personnel:


18 User Reviews

Melody Lemke

Oct 12, 2018 4:43 PM

no lender, not even the most famous and top notch like ondeck or marlin, were willing to offer me a leasing finance during the peak covid-19 days. but western financial did. not only that, they also offered very flexible factor rates. my trucking company has its ups and downs like most small scale trucking businesses but that did not scare these people away. they were more than happy to help me. after assessing the strength of my business, the finalised a factor rate of 1.11 for a $55,000 machinery loan. the eld devices in my trucks and vans needed new subscriptions and a bunch of them needed replacement as well. also, i needed to train my staff on the new devices as well. western financial worked with me to lease elds from keeptruckin on reasonable rates. the payment was made instantly and everything else was smooth too! A big thanks to these people!


Mavis Ankunding

Oct 14, 2018 10:37 AM

Hello, in my experience, I needed a bunch of ELDs that provided proper and precise GPS location of my vehicles. I run a delivery service in some major cities and I always need to know which van is where, which trailer made an unnecessary stop etc etc. Western Financial’s trailer finance was not that “joyous” for me as it has been for you. I needed some $100,000 equipment financing. Everything was good until the money reached my account. After that, they were interfering in my business. I felt like my credit was always on a watch. Did not feel independent. They would spam my email and were always on my back even though I was repaying every penny just the way it was decided in papers. I had taken a loan, not asked for a bloody financial advisor or something. It’s a relief I have completed the deal and I am rid of their services. Would generously give them 2 stars for their support of course but after that, it was a headache really!


Melody Lemke

Nov 1, 2018 10:42 PM

I’m surprised you had to face this. Maybe there was a reason behind it? Have you taken any loans before? How did that end up? It’s hard to swallow really because they helped me a lot and supported me throughout!


Leola Jacobson

Nov 22, 2019 2:02 PM

My pizza restaurant in San Jose has been making pizza the famous “American way” as I like to call it. We bake pizzas in regular ovens and although the business is running pretty smooth, my partner and I were looking for something new, to introduce a new “touch”, you may say! We thought of investing in the famous brick pizza oven where customers can even watch us making fresh pizza and enjoy the fresh delight! This was not as simple as it sounds! The oven needed a proper space of its own and a different interior as well. We also took into account that we would be needing a guy or two who would be experts in this new addition! This was a lot of work. So, we planned to apply for an equipment financing. After careful research, we came down to western financial. Their rates were reasonable and so, we got a $200k equipment financing from these guys. They promised the amount within 2 days after the application approval but it actually took them a week or so, which caused a lot of frustration on our part and some confusion as well but they did pay us after all! So, far we are glad with the service. Our brick oven is under construction and we are open for hiring as well! Fingers crossed!


Mya WittingII

Jan 4, 2020 12:07 AM

It had been a great experience, building my credit with western financial! Definitely recommended!


Mark Kuhn DDS

Aug 21, 2020 1:37 PM

My gym and wellness centre in Kansas City needed to replace some old exercise equipment and buy some new ones as well. The equipment financing offered by Western Financial served the purpose well and the representative even helped us find a good merchant who could lease used equipment to me, which was a good option because it meant, less expenditure. There was no documentation fee whatsoever and the origination fee was not much either. The only down side to this lender is that you have to chase your representative. It can be frustrating but after the deal is final and you get the equipment loan in your account, things get easier and smoother.


Reagan Casper

Nov 7, 2020 4:51 PM

Great lender! Looking forward to forming a long term lending relationship with Western Financial!


Joesph Kshlerin

Dec 9, 2020 2:51 AM

Good lender with easy and reasonable factor rates! Their customer service at times could be a bit off as you have to keep chasing them for a simple query. Guess they have too many client queries to handle but shouldn’t they hire more staff for a smoother customer service?


Madonna Spencer MD

Jan 26, 2021 11:29 PM

If you are looking for long term equipment loans, Western Financial is the place for you. Needed to lease a new trailer/van for my utilities company. My company provides door to door utilities services, plumbing, electricity repairs etc. Got the perfect deal from Hino for a utility van and Western Financial agreed to help lease the van. Both the van provider and the lender cooperated through the process. The only problem came when the van had arrived but the trailer finance didn’t. The merchant was not happy about it. Western promised financing in 24 hours but took 2 days. It was disappointing but everything was sorted once I got the loan and paid the merchant!


Aracely RoobII

Feb 23, 2021 8:42 AM

I’m so glad to have western financial for my auto lender. Their equipment financing served me well when it came to getting some repairs and tuning up of my fleet. The work needed involved full health check of every vehicle, some minor and major repairs, which later lead of oil changes, tyre replacements and other part changes etc. It was a lot of work and I am glad I took a loan for this because in the beginning I was not sure if the task would be extensive enough but one repair lead to another and then it was a Pandora box. There were parts coming in from lenders, repair labour was required and so much more. The machinery loan proved to be a big support for my business as I had not allocated much income to this task and the loan helped me big time!! I must appreciate the representative here too as he got me the best possible equipment financing depending on the health of my business revenue! Much gratitude!


Dillan Blick

Mar 3, 2021 8:40 AM

I own a printing press in Phoenix Arizona. My company was looking for a much needed equipment financing to buy a new thermal binder and a laminator as well. A lot of customers were asking if we could laminate their important documents and their copies as well. Hence, the new laminator if you guys are wondering why a laminator is necessary for a printing business. Well, it’s just for the convenience of my customers. Not only that, I had a pending order for papers, inks and a whole of lot of other printing material too. So, anyway Western Financial lent us some $50,000 in terms of equipment financing. The rates were reasonable, just what you can afford for simple purchases like these. The application process was simple. They needed a bunch of documents which I provided and then they approved the application after review within 2 days. The third day, I received the cash in my account. The equipment is here and have been put to work. I appreciate the support offered to me by Western Financial. Great service!


Muriel Gottlieb PhD

Apr 3, 2021 7:33 AM

Got a machinery loan from these guys and got my pizza delivery service a couple of bikes on zero down. Perfect deal for a term of 32 months! The finance got to the account in 2 days. Paying back has been smooth so far with flexible terms as suited to my business revenue! Much gratitude to Western Financial!


Mertie O'Conner

Apr 6, 2021 7:17 AM

ery suspicious lender! They were not sure if they should lend to my utilities company or not and kept me hanging for a week. I said good bye myself!


Lenna Dach DDS

May 6, 2021 9:31 PM

I have been a partner with Western Financial since 2015 and have lent from them twice and it has been a great experience! Excellent customer service, the rates are great and flexible, most businesses can get financing, no documentation fee and a quite reasonable origination fee as well!


Bernita Gerlach

May 18, 2021 1:34 AM

I recently used Western Financial’s equipment financing to lease a business vehicle. I must say getting financing from this lender had been very easy and straightforward! The application process was smooth and did not take much time. The money was in my account within 2 days and I was able to pay the agent in time! Thank you so much!


Ahmad Renner

Jun 3, 2021 3:33 AM

They wouldn’t respond if it’s a weekend, no matter how urgent your query is. I think they should at least respond via emails or something. Keeping the customers in dark if it’s a weekend is not very trustworthy imo!


Sonya Jerde

Jun 4, 2021 6:26 PM

Great rates on equipment loans. If only they would pay you as instantly and immediately as they claim! That was the only issue I found with these guys! They need to work on their customer care. It can take literally days for one to get in touch with any of the representatives! I had a couple of queries regarding my ongoing equipment loan transactions and I called them but they did not pick up at first and then when they did pick up, they put me on waiting. It was very frustrating! If they could only take care of the customer service, I would gladly give them 5 stars!


Nicole Kihn

Jun 12, 2021 5:43 PM

Initially great to work with but then a huge disappointment. Once you get the equipment financing, they keep bothering you regarding the repayments! 3 stars from me for providing instant financing without keeping me waiting! But they do need to work on their customer service and client relationship management.