Middletown, CT (November 5, 2013) — Colebrook Financial Company, which provides receivables financing for timeshare resort developers, announced that they just closed a new transaction with Festiva Development Group, LLC, located in Asheville, NC.
“We’ve had a great relationship with Festiva and their management over the past ten years,” says Colebrook Principal Bill Ryczek. “In 2003 we were both small companies just starting out, and it’s been so gratifying to see Butch and Don build not just a timeshare company, but a terrific, diversified hospitality organization.”
“Festiva and Colebrook are pleased to see this latest development in growing a mutually beneficial and long-term relationship,” says Festiva’s President Herbert (Butch) Patrick. “Our association with them began with a $1 million loan in 2003 and they are now one of our key lenders with a relationship of more than $20 million. Colebrook has been a great partner; they’ve been a great help and a strong, consistent ally.”
About Festiva Development Group, LLC
Festiva operates boutique interval ownership resorts, cruise club destinations, and an adventure club in the United States and the Caribbean. Festiva was founded in 2000 as Festiva Resorts and is based in Asheville, North Carolina.
About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.
Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
PRESS RELEASE SOURCE: Colebrook Financial Company