ORLANDO, Fla., Oct. 13, 2020 /PRNewswire/ -- Vacation Club Loans, LLC, a consumer financing company exclusively designed around vacation club resales, and specializing in Disney Vacation Club, secured additional financing from industry lender Colebrook Financial Company. Colebrook has extended the credit line available to Vacation Club Loans from $15,000,000 to $25,000,000. The increased funds are expected to have an immediate positive impact on the resale market nationwide. Vacation Club Loans also provides direct DVC purchase financing and re-financing DVC at a lower interest rate saving families thousands.
Debbie Ely, RRP, president of Vacation Club Loans says: "Many of us in the vacation ownership industry were very concerned how the pandemic would impact us and our business volume. Surprisingly, it gave consumers, especially those seeking DVC ownership, an opportunity to find time to shop online; compounded with the need to having a vacation to look forward to, and the magic of Disney, the demand for our timeshare resale financing doubled this year."
In response to the pandemic, Vacation Club Loans lowered down payment requirements and lowered interest rates to help consumers save cash both short term and long term. This was well received by buyers and helped many sellers move their vacation club points faster.
"Vacation Club Loans has been a shining star during a very difficult economic period," said Colebrook Financial principal Bill Ryczek. "While many businesses are struggling to survive, it has prospered and has constituted a growing portion of our volume. We're delighted to increase the company's funding availability and play a role in their success."
Over the past five years, Vacation Club Loans has seen a steady increase in contract pricing over this same period; the average loan balance has steadily increased by approximately 12% each year.
About Vacation Club Loans, LLC
Serving the United States and Canada to those who wish to purchase vacation ownership points. Its easy loan approval process and flexible payment plans for up to seven years have made it a pioneer lender in timeshare resales across all brands. For further information visit www.vacationclubloans.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. For further information call Bill Ryczek at 860-344-9396.
SOURCE Vacation Club Loans