Grand Timber Lodge

Colebrook provided a loan to the Homeowners’ Association at Grand Timber Lodge in Breckenridge, Colorado. Grand Timber has been a Colebrook customer since 2009.

Loans To Homeowners Associations


It’s hard to believe, but the timeshare industry is over 40 years old. Many resorts that were built in the 1970s and 1980s are now in need of extensive refurbishment and rehabilitation. Older resorts often have older owners, many of whom are on fixed incomes, meaning that a large one-time special assessment could be problematic. Often, the best solution is to borrow the funds and repay the loan with smaller special assessments over a period of time.

Colebrook is one of the most prominent lenders to homeowners’ associations in the nation. Most association loan requests are too small to interest national timeshare lenders and too unusual and complex for the local bank. We have filled that void with a product that allows associations a vehicle to finance needed improvements.

Colebrook, with its extensive timeshare expertise, can underwrite requests quickly, and with its standard and relatively simple documentation, can close loans with minimal legal expense. Terms vary based upon individual circumstances, but most loans have the following characteristics:

  • Loan amounts range up to $5,000,000 or more, and terms range from 1-5 years, depending on the purpose of the loan, the amount borrowed and the Association’s ability to cover debt service.
  • The loan is secured by all assets of the Association, including but not limited to, an assignment of all maintenance fees and special assessments due the association and a pledge of any reserve accounts.
  • Payments are typically structured to coincide with the receipt of maintenance fees and assessments. Interest would be payable monthly and principal annually. For example, if the Association borrowed $2,000,000 over a four-year period, it would pay interest on a monthly basis and $500,000 in principal once each year, typically in February, if fees are due in January.

If you want to discuss your situation and see whether a loan might be the best course for you, please call us.