MIAMI—It was a race to the finish line for Orlando’s Parliament House, but the iconic LGBT resort was saved from the auction block by a last minute loan from brothers Ron and Michael Simkins, owners of Miami-based Lion Financial.

The $3.9 million loan gives the debt plagued resort some breathing room as it institutes some long-range development plans.

“This is great news for Parliament House. I’m very relieved,” owner Don Granatstein told the Orlando Sentinal, that confirmed the loan closed Nov. 3.

“I believe Parliament House is on the path to financial discipline and financial success, by getting past the bankruptcy and the trouble they had with previous lenders,” Simkins.

Simkins’ company has also invested in other Orlando hotels through the years, but he said the new loan for Parliament House is “based mostly on the value of the real estate and the business.”

The Parliament House had recently joined a worldwide timeshare network, RCI, one of only seven gay resorts in the network. Granatstein is hoping that gay tourism and gay marriage — made legal in Florida in January — will boost business.

Parliament House emerged from a bankruptcy in February, with a period of time to refinance millions in debts that multiplied during the Great Recession.