Direct private lender attributes success to quick closings and reputation for closing tough deals
ENGLEWOOD, NJ, April 25, 2022 /PRNewswire/ — Private direct lender Kennedy Funding announced today that the company has surpassed $4 billion in closed loans.
“$4 billion is a milestone in the private lending industry,” said Kevin WolferPresident and CEO of Kennedy Funding.
the Englewood, New JerseyThe London-based direct private lender has built a global reputation for its willingness to finance difficult and atypical transactions. The company has closed hundreds of loans on three continents, one of the few US-based private lenders to do so.
“For 35 years, borrowers have turned to us when they can’t get a deal with a traditional financing institution,” Wolfer said. “We are the company of choice for 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 company’s longstanding reputation for fast closings, a crucial element for borrowers who need to act quickly on a commercial real estate opportunity.
“Borrowers who are against the clock have few options to turn to, as traditional lenders can take months to close a deal,” Wolfer said. “Many don’t have the luxury of time. Our firm can close a loan very quickly, sometimes in as little as five days.”
Wolfer added that the company’s willingness to fund certain types of transactions was key to reaching its latest milestone. Land loans are one such type of deal: Wolfer said the risks associated with greenfield lending mean applications for such loans are automatically “no” with almost all banks.
“Traditional lenders are extremely risk averse, which makes it extremely difficult for borrowers who don’t perfectly meet their rigid, predefined criteria to qualify for a loan,” Wolfer said. “However, that doesn’t mean the deal doesn’t have merit on its own. These factors shouldn’t stand between a borrower and the financing they need.”
Similarly, Kennedy Funding has earned a reputation for successfully closing deals overseas. Wolfer said most lenders aren’t equipped to work well with the varying regulatory and economic landscape outside of the United States. Kennedy Funding has the experience and track record to handle these requests.
“Borrowers want to work with US-based lenders, but the new regulatory landscape, language barrier and different geopolitical scenarios make this an insurmountable challenge for almost all lenders,” Wolfer said. “Kennedy Funding brings the experience borrowers need to secure funding for money-making opportunities around the world.”
Kennedy Funding offers loan amounts of $1 million to over $50 million, with up to 75% loan-to-value (LTV). Loan proceeds can be used for a multitude of purposes, including acquisition, bridge loans, restructurings, refinancing and debt repayment. For more information or to start an application, visit www.KennedyFunding.com.
About the Kennedy Funding
Kennedy Funding is a global direct private lender specializing in bridge loans for commercial property and land acquisition, development, restructurings, bankruptcies and foreclosures. Kennedy Funding closed more than $4 billion in loans to date. Its creative financing expertise can finance up to 75% of the loan-to-value ratio, from $1 million ($3 million international) to more than $50 million, in as little as five days. The company has entered into loans throughout United Statesthe Caribbean, Europe, Canadaand central and South America.
SOURCE Kennedy Funding