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Wellington
Financial Announces Liberty Bank�s
Loan
Renewal to Silver Lake Resort
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The Orlando-based
timeshare resort developer
is using $40mm
for receivables financing and $6mm for development.
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Charlottesville,
VA & Middletown, CT � September 2016 / Newsmaker Alert / Wellington
Financial, the exclusive resort finance lending correspondent for Liberty
Bank, says the bank has renewed a long-term lending relationship with
Silver Lake Resort, a timeshare
development company located in Orlando, Florida. The transaction continues
to provide $40 million for receivables financing, in addition to an amortizing
$6 million development loan that was used to construct a new timeshare
building.
�We�ve
enjoyed working with Liberty Bank and Wellington Financial over the years,�
says Silver Lake Resort�s CEO, Deborah Moore. �The bank�s support
has been instrumental in Silver Lake Resort�s substantial growth.�
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�We�ve
been providing a diversified financing package to Silver Lake since 2009
and are delighted to have been a significant part of their success,� says
Liberty Bank Vice President David Brede.
Wellington
Financial�s Executive VP Shawn Brydge says, �Silver Lake�s management team,
each of whom have significant tenure at the company, are wonderful to work
with. Their consistency and passion to provide a quality product
and wonderful customer experience is evident in the way they run their
operation, and that carries over to our lending relationship.�
About
Silver Lake Resort
Silver
Lake Resort (www.silverlakeresort.com)
has been awarded the prestigious GOLD CROWN RESORT designation from Resort
Condominiums International (RCI). Located within two miles of the main
entrance to Walt Disney Resorts, the resort consists of designer-furnished
vacation villas, with a mix of one-, two-, and three-bedroom floor plans
and is supported by more than 40,000 owner families.
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About
Liberty Bank
Established
in 1825, Liberty Bank (Liberty-Bank.com),
based in Middletown, Connecticut, is the state�s oldest bank, with more
than $4.4 billion in assets. Liberty Bank has been actively lending to
the timeshare industry throughout the U.S. for over 35 consecutive years.
The bank�s commitment to superior service has resulted in lending relationships
with some of the industry�s largest and most successful developers. Member
FDIC. Equal Housing Lender.
About
Wellington Financial
Wellington
Financial (Wellington-Financial.com)
is the exclusive Resort Finance lending correspondent for Liberty Bank
and specializes in lending to developers of timeshare resorts, fractional
resorts and retail land. Founded in 1981, the finance and service company
offers a full range of products, including receivables hypothecation, purchase
and conduit facilities; pre-sale and working capital lines of credit; acquisition,
construction and renovation financing, as well as mezzanine and equity
debt financing. President Ron Goldberg serves on the Board of Directors
for the American Resort Development Association (ARDA).
Media Contact:
Sharon
Scott, RRP
for Wellington
Financial & Liberty Bank
SharonINK
PR & Marketing
310-923-1269 |
