Liberty Bank and Latitude Vacation Club Close $25MM Loan

Wellington Financial, the exclusive resort finance lending correspondent for Liberty Bank, announced the bank recently closed a $25MM to Latitude Vacation Club. Based in the Dominican Republic, Latitude Vacation Club (LVC) sells membership licenses which provide access to the exclusive Sports Illustrated Resorts Marina and Villas Cap Cana, a real estate and hotel tourist enclave located in luxurious Cap Cana. Liberty’s $25MM Receivables Loan refinanced an existing receivables loan and will provide liquidity for future sales.

“Some customers just get it. Cecil is one. He is constantly at the ready and looking for the best way to serve his clients. If you want a masterclass in customer service, take a walk through Sports Illustrated Resorts Marina and Villas Cap Cana with Cecil. See if you can keep count of the smiles created.” said Liberty Bank Vice President Gene Rondeau. “He is a treat to work with and I look forward to a long and lasting partnership between Latitude Vacation Club and Liberty Bank.”

Cecil Latta, owner of Latitude Vacation Club remarked, “I’m super excited about working with Liberty. Their depth of knowledge about our industry and ability to help us grow is exactly what we need as a company. Working with Shawn, Don and Gene has been an absolute pleasure. We are ready with Liberty on our side to Set Tomorrows Standards TODAY!!!”

Wellington Financial President Shawn Brydge noted, “Latitude Vacation Club boasts experienced leadership and provides members access to a premium vacation experience at an extremely exclusive location. We’re excited to work with Cecil and his team to provide immediate liquidity and support for all of Latitude’s future growth.”

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About Liberty Bank

Liberty Bank (Liberty-Bank.com) has been actively lending to the timeshare industry throughout the U.S. for over 40 consecutive years. The bank’s commitment to superior service has resulted in lending relationships with some of the industry’s largest and most successful developers. The bank specializes in lending to developers of timeshare resorts, fractional resorts and retail land offering 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. Established in 1825, Liberty Bank is one of the oldest and largest mutual banks in the country. With more than $7.5 billion in assets, Liberty Bank has 56 banking offices across Connecticut and one in Massachusetts. As a full-service financial institution, Liberty offers consumer and commercial banking, cash management, home mortgages, business loans, insurance and investment services. Named a Top Workplace every year since 2012 and a Forbes Best-In-State Bank in 2021, 2022, and 2023, Liberty maintains a longstanding commitment to superior customer service and unparalleled community involvement.

About Wellington Financial

Wellington Financial (Wellington-Financial.com) is the exclusive Resort Finance lending correspondent for Liberty Bank and specializes in arranging lending to developers of timeshare resorts, vacation clubs, fractional resorts, and retail land. Founded in 1981, the finance and service company works with many industry and non-industry lenders, operates as the lead arranger for Liberty Bank’s Resort Finance division, and offers mezzanine and equity financing. Chief Executive Officer Ron Goldberg serves on the Board of Directors for the American Resort Development Association (ARDA).

About Latitude Vacation Club

Latitude Vacation Club provides its clients with an innovative Vacation Club product that offers the highest level of professionalism, integrity, value and skill, while creating an environment for both its clients and team members that offers an enjoyable and valuable experience for all parties who interact with the Latitude.

The Latitude’s goal is to be recognized as a sales and marketing leader in the Vacation Club industry, known for helping developers reach their financial objectives, employees realize their full potential and its clients select and purchase a product that will improve and protect Their family, their health, their finances and their future vacations.

Lead by an executive team with more than 100 years of combined hospitality experience. For more information about Latitude please contact Gina Neri at gneri@latituderesorts.com or (321) 946-1448.