Consistently Financing the Vacation Ownership Industry since 1981
Charlottesville, Virginia •
(434) 295-2033

Loan Programs

For 35 years, we’ve been focused solely on providing financing to vacation ownership developers. During that time, we’ve been a part of the evolution of timeshare finance as we’ve helped develop loan structures to meet the individual needs of borrowers, while making sure our lenders were properly secured.

Each borrower and project is different, so our loan structures vary to balance the borrower’s needs with the lender’s capabilities. Thus, loan pricing differs based on project and developer risk profile, industry experience, loan advance rate and structure. However, one constant of all of our loans is our focus on underwriting the borrower, the project and the collateral. Our underwriting experience and risk analysis skills have allowed us to thrive in this business for over 30 years, while maintaining solid working relationships with many lenders.

  • Receivables Hypothecation – The primary lending vehicle of timeshare finance, developers are able to borrow against consumer receivables to significantly increase their upfront cash position to pay for sales, marketing and development expenses. Advance rates typically range from 70%-90%, with a two year revolving advance period and a five year term.
  • Completed Inventory – Typically used to facilitate project growth by acquiring completed inventory from another project or from an HOA. Inventory loans are typically structured to repay at 80% sell-out of the acquired inventory through release fees paid with each interval sold, with loan terms of 24 to 36 months. In additional to an appraisal, particular attention is paid to the ratio of the retail value of the purchased inventory to the purchase amount. Inventory loans are traditionally offered only when the lender also has an exclusive right to finance the resulting receivables.
  • Development/Construction – Traditional vertical and horizontal development loans to build a project from the ground up. Loan-to-value, borrower strength and experience, project size, and many other factors affect the loan term, structure and pricing. Construction and Development loans are traditionally offered only when the lender also has an exclusive right to finance all of the resulting receivables.