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Liberty Bank, Wellington Financial, Lending $10 Million to Smugglers’ Notch Resort

December 23, 2009 by Perspective Magazine | Timeshare & Fractional Reviews · Leave a Comment 

Reveals Details About ’s Loan to Timeshare Resort

, the exclusive Resort Finance lending correspondent for , is pleased to announce the bank has closed a $10 million receivables hypothecation facility with Smugglers’ Notch (www.smuggs.com) in .

“The facility will be used to finance future timeshare sales,” says , owner and managing director of ‘Smuggs.’ “We found the team from and to be first-rate when it came to understanding our needs. It’s refreshing to deal with a lender who understands timeshare so well. We’re looking forward to a long-term relationship.”

Vice President, observes, “Smugglers’ Notch has been an important timeshare and resort for many years. We are very impressed with their management team and their consistently high standards.”

, senior vice president at , noted that, “The resort is a terrific four-season destination and management has done a great job of creating a staff that feels more like a family.  The entire operation is run with a passion and excitement directed at creating the best vacation experience possible for each guest; it’s easy to see why they have such successful resort and timeshare operations.”

About Smugglers’ Notch Resort
Smugglers’ Notch Resort is located in northern ’s Green Mountains with skiing and snowboarding for all abilities on 78 trails and 1000 acres of terrain on three mountains. The Resort’s extensive family programs have been recognized by Magazine, the Family Travel Forum, FamilyFun Magazine, and Condé Nast Traveler magazine, among others. Lodging includes more than 600 privately owned and timeshare condominiums. Smugglers’ has received awards from Magazine, the governor’s office, and other state environmental stewardship agencies for its innovative approach to environmental stewardship. The resort is privately owned by the Smugglers’ Notch Management Co., Ltd.

About
Established in 1825, (www.liberty-bank.com), based in Middletown, Connecticut, is that state’s oldest mutual bank, with more than $3.0 billion in assets. has been actively lending to the timeshare industry throughout the U.S. for over 30 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
(www.wellington-financial.com) is the exclusive Resort Finance lending correspondent for 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 ().

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