Kennedy Funding said on Monday it has closed more than $4 billion in loans to date.
Creative financing from the Englewood-based private direct lender provides financing of up to 75% LTV, from $1 million (3 million international dollars) to over $50 million, in as little as five days .
“$4 billion represents a significant milestone in the private lending industry,” said Kevin Wolfer, CEO and President of Kennedy Funding.
The firm has built a global reputation for its willingness to finance difficult and atypical transactions, and has closed loans in the United States, the Caribbean, Europe, Canada, and Central and South America; it is known as 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 that applications for such loans are automatically “no” with almost all banks.
“Kennedy Funding brings the experience borrowers need to secure funding for money-making opportunities around the world,” he said.