Kennedy Funding said Monday it has closed more than $4 billion in loans to date.
The Englewood-based direct private lender’s creative financing 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.
“$4 billion is a tremendous milestone in the private lending sector,” said Kevin Wolfer, CEO and president of Kennedy Funding.
The firm has built a reputation globally for its willingness to fund challenging and atypical deals, and has closed loans throughout the U.S., the Caribbean, Europe, Canada and Central and South America; it is known as 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 longstanding 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.
“Kennedy Funding brings the experience necessary for borrowers to secure funding for lucrative opportunities around the globe,” he said.