Daily News: August 21, 2012

Capital One Closes a $25 Million Revolver for Welk Resorts

Capital One announced it closed a $25 million revolving loan facility for Welk Resorts, an operator of premier vacation home properties with offerings in the U.S. and Mexico. The facility will be used to finance notes receivable arising from the sale of vacation ownership points at Welk Resorts properties.

“We’re thrilled to work with Welk Resorts to provide financing solutions to support the company’s success in the vacation ownership market,” said Jim Casey, senior vice president, managing director, Commercial and Specialty Finance, Capital One Bank. “Capital One Bank’s vacation ownership team is committed to leveraging our strong balance sheet to finance the growth of successful companies, like Welk, in the timeshare market and we look forward to building our relationship with Welk Resorts.”