Direct, private lender Kennedy Funding announced today that the firm has surpassed $4 billion in closed loans.
“$4 billion is a tremendous milestone in the private lending sector,” said Kevin Wolfer, president and CEO of Kennedy Funding.
The Englewood, New Jersey-based direct private lender has built a reputation globally for its willingness to fund challenging and atypical deals. The firm has closed hundreds of loans across three continents, one of only a few U.S.-based private lenders to do so.
“For 35 years borrowers have turned to us when they cannot close with a traditional financing institution,” Wolfer said. “We are the firm of choice by brokers, agents, and borrowers around the world who know that Kennedy Funding has a decades-long track record.”
Wolfer said much of that success comes from the firm’s long-standing reputation for speedy closings, a crucial component for borrowers who need to act quickly on a commercial real estate opportunity.
“Borrowers who are up against the clock have few options to turn to, since traditional lenders can take months to get a deal done,” Wolfer said. “Many don’t have the luxury of time. Our firm can close a loan super-fast — sometimes in as little as five days.”
Wolfer added that the firm’s willingness to fund certain deal types has been key to reaching its most recent milestone. Land loans are one such deal type: Wolfer said that the risks associated with lending on raw land make applications for those loans an automatic “no” from nearly any bank.
“Traditional lenders are extremely risk-averse, which makes it incredibly difficult for borrowers who don’t perfectly fit their rigid, pre-set criteria to qualify for a loan,” Wolfer said. “However, that doesn’t mean that the deal does not have merit on its own. Those factors shouldn’t get in the way between a borrower and the funding they need.”
Similarly, Kennedy Funding has earned a reputation for successfully closing deals abroad. Wolfer said that most lenders are not equipped to properly work with the varying regulatory and economic landscape outside the U.S. Kennedy Funding has the experience and track record to handle these requests.
“Borrowers want to work with U.S.-based lenders, but the new regulatory landscape, language barrier, and differing geopolitical scenarios make it an insurmountable challenge for nearly every lender,” Wolfer said. “Kennedy Funding brings the experience necessary for borrowers to secure funding for lucrative opportunities around the globe.”
Kennedy Funding offers loan amounts from $1 million to $50+ million, with up to 75% loan-to-value (LTV). Loan proceeds can be used for myriad of purposes, including acquisition, bridge loans, workouts, refinancing, and debt payoff. For more information or to begin an application, visit www.KennedyFunding.com.
