What West One Finance does

West One Finance, LLC is a private direct equipment lender headquartered in Farmington, Utah, founded by James C. Perry (formerly of Continental Bank, D.A. Davidson, and Summit Leasing). The company provides equipment financing solutions of up to 100% of equipment value to small business owners across 21 western and Midwestern U.S. states, focusing on borrowers who fall outside traditional bank lending criteria due to credit scores below 670, limited time in business, or transaction-size restrictions. Target verticals include transportation, construction, agriculture, logging, towing, and manufacturing, with a documented average loan-decision turnaround of 1.2 business days after paperwork submission.

The company's core product is collateral-friendly equipment financing, with applications processed through a DocuSign-powered digital intake platform and supported by Spanish-speaking loan officers to reach Hispanic small-business owners. A secondary line of business is an Equipment Resale storefront that sells repossessed commercial trucks, trailers, and heavy machinery (priced between $22,000 and $67,000 per unit) directly to the public, creating asset-recovery economics linked to the financing book. The technology stack is intentionally light: no proprietary platform, no API surface, and no mobile application; operational differentiation rests on team experience and relationship-driven underwriting rather than software IP.

West One Finance generates revenue primarily through interest and fees on financed equipment loans, supplemented by episodic resale proceeds from defaulted collateral. The company operates with a small team (1-10 employees per firmographic data, with a named leadership bench of about ten individuals) and has raised approximately $6.05M cumulatively via Regulation D exempt offerings in 2018, 2019, and 2024. Capital has funded the loan book across 21 states. Ownership is concentrated among Managing Member Vincent L. Merrill and founder James C. Perry, with board oversight from Burt V. Matthews and others; no institutional venture or private equity backing is evidenced.

Name

West One Finance

Legal name

West One Finance, LLC

Website

https://westonefinance.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

West One Finance, LLC is a private direct equipment lender providing financing up to 100% of equipment value to small businesses across 21 U.S. states in transportation, construction, agriculture, logging, towing, and manufacturing, and also resells repossessed equipment to the public.

Ownership category

akta.pro rank

Product category

Commercial Equipment Financing

NAICS

Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153), Finance Lessors (6172)

akta.pro primary industry

Commercial Trucking & Heavy Equipment Vehicle Finance (FSAKADAI)

Keywords

• Commercial equipment financing
• Small business lending
• Truck and trailer loans
• Construction equipment financing
• Agricultural equipment loans

Headquarters

HQ city

Farmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Equipment Financing: Provides financing solutions for commercial equipment purchases, offering loans up to 100% of equipment value to small business owners. Revenue generated through interest on loans and financing fees.
2. Equipment Resale: Sells repossessed equipment to the public. Revenue generated from equipment sales at various price points ranging from $22,000 to $67,000 per unit.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

West One Finance is a direct commercial equipment lender providing up to 100% financing to small business owners in transportation, construction, agriculture, logging, towing, and manufacturing. The company offers collateral-friendly, custom financing plans with an average 1.2-business-day turnaround after paperwork submission, and underwrites borrowers banks often decline (credit scores below 670). It also operates a secondary equipment resale channel selling repossessed trucks, trailers, and heavy machinery directly to the public.

Product overview

West One Finance operates as an equipment financing company offering two primary services: Equipment Financing and Equipment Resale. Equipment Financing provides up to 100% financing solutions for small business owners across transportation, construction, agriculture, logging, towing, and manufacturing industries, with a focus on customers who may not meet traditional bank lending criteria. Equipment Resale is a secondary market where the company sells repossessed equipment including commercial trucks, trailers, and heavy machinery directly to the public. The two services work together as part of the company's asset lifecycle management, allowing them to both finance and subsequently resell equipment.

Differentiator

Problem solved

Functional benefit

Products and services

• Equipment Financing Equipment financing service providing up to 100% financing for small business owners in transportation, construction, agriculture, logging, towing, and manufacturing. The company offers collateral-friendly solutions and custom plans with an average turnaround time of 1.2 business days after paperwork submission, underwriting borrowers that fall outside traditional bank lending criteria (e.g., credit scores below 670).
• Equipment Resale Secondary market where West One Finance sells repossessed equipment to the public, including commercial trucks, trailers, construction equipment, and agricultural machinery with detailed specifications (VIN, condition, location). Example listing: a 2020 Freightliner Cascadia 126 with Detroit powertrain in Rupert, ID, asking $30,000.

Quantifiable outcome

• Average turnaround time of 1.2 business days after paperwork submission
• +2 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Commercial Credit Group: Direct equipment financier for commercial trucking, construction and logistics businesses, providing loans and leases against titled collateral. Comparable to West One's equipment-collateral, vertical-focused lending model.
• Crest Capital: Equipment financing provider serving small businesses and owner-operators with leases and loans for commercial vehicles and machinery. Directly comparable on customer profile, equipment-collateral model and SMB origination.
• National Funding: Online small-business lender offering equipment financing and working capital to SMBs that may not qualify for bank credit. Comparable on small-business target market, equipment finance product and willingness to serve credit-constrained borrowers.
• Balboa Capital: Direct equipment-finance lender to small and mid-sized businesses across transportation, construction and other verticals. Closely comparable to West One in target market, equipment-collateral underwriting and small-business focus.
• TruckLenders USA: Specialist commercial truck and trailer financing company serving owner-operators and small fleets, frequently serving borrowers with credit challenges. Highly comparable vertical focus and subprime-friendly underwriting.

Broad incumbents

• DLL: Global vendor-finance provider covering transportation, agriculture, construction and industrial equipment. Adjacent operating model with vendor-channel intermediation that competes indirectly with West One's direct-to-borrower approach.
• First Citizens Bank (CIT Equipment Finance): Large commercial equipment-finance franchise offering vendor and direct financing across trucking, construction and industrial verticals. Overlaps with West One on product and vertical mix, but operates at materially greater scale and balance-sheet capacity.
• Mitsubishi HC Capital America: Major equipment-finance and leasing platform with deep reach into commercial transportation and construction. Competes with West One for the same underlying borrowers but through vendor and dealer channels with substantially larger capital base.

Emerging players

• Currency: Digital commercial finance provider focused on working capital and equipment financing for small and mid-sized businesses. Comparable target market and customer profile, with a more technology-driven delivery model.
• BlueVine: Digital small-business financing platform offering lines of credit, term loans and invoice factoring. Competes for the same underserved SMB borrower pool through a fully online, faster application experience that pressures West One's service-speed edge.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about West One Finance