Wellington Financial & Shell Vacations LLC Close $25mm Loan For Napa Valley Project, Vino Bello

Liberty Bank and their exclusive timeshare lending correspondent Wellington Financial recently announced closing a deal in which Liberty Bank will be providing $25 million in receivables financing for SVC-Napa’s Vino Bello project, Shell Vacations Club’s Napa Valley location.

“Liberty Bank and Wellington Financial are gratified to be working with the highly-respected team at Shell Vacations,” says Wellington Financial president Ron Goldberg. “Vino Bello represents everything a lender looks for in a timeshare resort,” he continues. “Firstly, Shell’s team brings the ample resources of a company well-versed in timeshare development, marketing and sales. Secondly, the project itself, is simply outstanding. And this has to be one of the most popular tourist destinations in the world.”

“We found the Wellington Financial and Liberty Bank people to be very amenable business partners,” says Shell Vacations LLC Chief Financial Officer Craig Goldstein. “They took the time to learn about our club, our product and our points management systems, which helped them demonstrate the viability of our portfolio of receivables.”
Wellington Financial has originated over $2.5 billion to the timeshare industry since its inception in 1981. The company specializes in lending to timeshare resorts, while serving the fractional and land industry as well. 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.

Established in 1825, Liberty Bank is Connecticut’s oldest mutual bank, with more than $2.5 billion in assets.  Liberty has been actively lending to the timeshare industry throughout the U.S. for over 25 years.  The bank’s commitment to superior service has resulted in lending relationships with some of the industry’s largest and most successful developers.