Timeshare Financing News: Westgate Resorts Timeshare Finalizes $65 Million Loan
Thursday, June 20, 2013
The exclusive resort finance (timeshare financing) lending correspondent for Liberty Bank, Wellington Financial, has closed its $65 million loan to Westgate Resorts timeshare.
Westgate Resorts CFO Tom Dugan explains, “Westgate has had a long-term relationship with Liberty through the bank’s participation in various transactions over the years. We are delighted to enter into a direct lending relationship with them and look forward to a successful, long-term association together.”
Liberty Bank is recognized in the timeshare and vacation ownership industry for having supported timeshare initiatives for over 30 years. Actively lending to timeshare companies, Liberty Bank is enthusiastic about its continuing relationship with Westgate Resorts timeshare. Liberty Bank VP of Resort Finance, David Brede, says, “We are confident in their senior management team’s ability to continue to be a successful company and an industry leader.”
Established in 1825, Liberty Bank is the oldest mutual bank in Connecticut, the company’s headquarters.
