Colebrook Financial Company extends an existing facility to $8mm for receivables financing
Middletown, CT (June 28, 2013) — Colebrook Financial Company, which provides timeshare receivables financing for timeshare resort developers, announced the expansion of their lending relationship with Williamsburg, Virginia, timeshare developer – King’s Creek Plantation.
“George David of Realty Financial Resources, Inc. introduced us to the team at King’s Creek and helped facilitate the arrangement,” says Colebrook Principal William “Bill” Ryczek. “We inked our first deal together in March of last year and were happy to extend it to $8 million earlier this spring. The project has been successful in making $18 million in sales per year, has 15,000 owners and continues to grow. So, we are excited to continue working with them going forward.”
King’s Creek Plantation Executive VP/COO/CFO Joe Cantrell says, “We are extremely fortunate to work with Colebrook. Their team is very professional and easy to work with. If any issue were to emerge, they are great problem-solvers, too. We are glad to have them as our lending partners.”
ABOUT KING’S CREEK PLANTATION
Situated in Williamsburg, Virginia, King’s Creek Plantation is an Interval International 5-Star Resort located within easy access of the Colonial Parkway, which links Williamsburg to historic Jamestown and Yorktown. The resort features one, two, three and four bedroom homes amidst a complex offering multiple swimming pools, a year-round indoor aquatic center, jetted pools, saunas, large workout room, tennis courts, a basketball court, picnic areas, playgrounds, an 18-hole miniature golf course, jogging trail and more in a gated community. For more information, call 866-228-6796 or visit http://www.kingscreekplantation.com.
About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized 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