ENGLEWOOD, NJ — In an era where credit is virtually nonexistent, Kennedy Funding stands out as the quintessential lender for borrowers racing against the clock to close on land deals before the year’s end. With inflation on the rise and the financial upheaval within the banking industry, traditional lenders have been tightening their belts and imposing unbearable guidelines. Conversely, Kennedy Funding’s willingness to finance challenging land deals has never been more vital to the commercial real estate market.
“We’ve closed more than $4 billion in loans, and that to us is more than just a number—it’s a testament to our commitment to our borrowers,” said Kevin Wolfer, CEO and president of Kennedy Funding, a New Jersey-based direct private lender.
Kennedy Funding’s success lies in its unparalleled ability to make fast funding decisions in contrast to going through the bureaucratic “red tape” of traditional lenders and banks. Kennedy has honed its process, which enables quick closings for borrowers, sometimes in as fast as five days— a feat that is almost unheard of in today’s lending landscape where loan closing delays have become the norm. For Kennedy, it’s all about the current value of the real estate collateral and potential of the property. That is a strategy that differs from traditional lenders because now more than ever, they are being hindered by the borrower’s credit history.
“The credit squeeze has made it almost impossible for many borrowers to secure the necessary funding for their land deal,” Wolfer explained. “But at Kennedy Funding, we look at the big picture, not the borrower. Where others see risk, we see opportunity. For us, the primary emphasis is on identifying the positive aspects and opportunities in land development, rather than being constrained by the credit history of the borrower.”
Kennedy’ Funding’s loan officers are adept at providing capital to borrowers in urgent need of working capital, acquisition, construction, refinance, cash outs, bridge loans, refinancing, workouts, and debt settlements.
“Right now a lot of borrowers have been particularly impacted by the current economic climate,” said Wolfer. “And that’s where we come in. With an extensive portfolio of closed loans, Kennedy Funding is able to reinforce its position as a lending leader that can navigate the complexities of the market and provide tailored solutions—especially as we close out the year.”
When it comes to the borrowers it’s crucial to be prepared. To expedite funding, essential documentation is required which includes a clean title, a recent appraisal, and an environmental report, among others that may be required.
“Aside from the right paperwork, proactive and clear communication from the borrower is essential,” said Wolfer. “This will help ensure that any additional required information needed will be provided promptly for expedient review from our team.”
Kennedy has also achieved a high benchmark when it comes to lending on the international front servicing not only in the US, but Canada, Europe, the Caribbean, and Central and South America. Being well-versed in the locale’s real estate markets, political landscapes, and laws allows Kennedy to seamlessly fund internationally while remaining compliant with the complex local regulations and paperwork.
As the year-end approaches, the pressure to close on land deals intensifies. Traditional lenders’ reluctance to engage in what they consider ‘high-risk’ transactions places many borrowers in a precarious position. Kennedy Funding’s strategic financial solutions, however, offer a lifeline to those seeking to navigate these challenges successfully.
“We pride ourselves on being that partner who won’t leave you hanging at closing time,” Wolfer emphasized. “Our team’s dedication to speed and flexibility is unparalleled, and our track record of $4 billion in closed loans speaks for itself. When it comes to fast funding, particularly as year-end deadlines loom, Kennedy Funding delivers.”
Visit www.KennedyFunding.com for more information or to begin an application.
About Kennedy Funding:
Kennedy Funding is a global direct private lender specializing in bridge loans for commercial property and land acquisition, development, workouts, bankruptcies, and foreclosures. Kennedy Funding has closed more than $4 billion in loans to date. Its creative financing expertise provides funding up to 75% loan-to-value, from $1 million ($3 million international) to more than $50 million, in as little as five days. The company has closed loans throughout the United States, the Caribbean, Europe, Canada, and Central and South America.