In 1988, Stratton founded Litchfield Financial Corporation (NASDAQ: LTCH). Mahan joined him in 1992. Litchfield was a lender to land developers and timeshare developers. At Litchfield, Stratton and Mahan made over $2 Billion in loans. In 1999, they sold the company to Textron Financial Corporation.
In 2001, Stratton and Mahan founded Developer Finance Corporation to once again serve the needs of the land development industry. Based in Williamstown, Massachusetts, DFC is a land development company, a lender to land development companies, a buyer of distressed real estate and real estate secured loans, and a service provider to distressed land development owners.
In 2012, Frank Mahan co-founded Custom Builder Lending, LLC and serves as President. In 2001, Mr. Mahan co-founded Developer Finance Corporation, a land finance company, and he served as Chief Executive Officer from 2001 to 2012 and as Executive Vice President from 2012 to present. Prior to co-founding Developer Finance Corporation, Mr. Mahan served as Vice President of Textron Financial Corporation from 1999 to 2001. Mr. Mahan served as Vice President of Litchfield Financial Corporation from 1992 to 1995 and Senior Vice President from 1995 to 1999, when the company was sold to Textron Financial Corporation. Mr. Mahan received his MBA degree from The State University of New York at Albany and his BS degree from Clarkson University.
In 2012, Randy Stratton co-founded Custom Builder Lending, LLC and serves as Chairman. In 2001, Mr. Stratton co-founded Developer Finance Corporation, a land finance company, and from 2001 to present he serves as Chairman of that company. In 2003, Mr. Stratton co-founded Resort Finance, LLC, a timeshare finance company that was a $650 million joint venture with Bank of Scotland, and from 2002 to 2005 he served as Chairman of that company. From 1999 to 2000, Mr. Stratton served as Senior Vice President of Textron Financial Corporation. In 1988, Mr. Stratton co-founded Litchfield Financial Corporation, and he served as Chief Executive Officer of that company from 1996 to 1999 and President from 1988 to 1999, when the company was sold to Textron Financial Corporation.
We want to hear from you! Find out how we can lend to you.