HACKENSACK, NJ, September 12, 2003—When a South Florida developer needed a quick bridge loan to complete his condo development on Anna Maria Island, Kennedy Funding, a direct private lender based in Hackensack, N.J., delivered a $3 million dollar bridge loan in record time.

Our entire reputation is based on how responsive we are to our clients and the brokers who work with us,” says Jeffrey Wolfer, a principal of Kennedy Funding. “Whether it’s turning around a loan commitment in 48 hours or less or helping clients to make loans work despite conditions traditional lenders would never consider, we take a proactive approach rather than the typical reactive attitude of conventional lenders.”

Borrower Point South, LLC needed the loan to complete construction of an 11-unit beachfront condominium project in the popular resort area of Bradenton, Fla. on Anna Maria Island just north of Longboat Key. The units, which range in size from 2,400, to 3,520 square feet, will be selling from $1.5 million to $2.3 million.

“Working with Kennedy Funding was a joy,” said David Brown, a broker with Florida Trust in Clearwater, Fla. “They were able to put together a bridge loan very quickly. As far as commercial lenders go, they were the easiest I’ve ever worked with.”

In addition, Brown said that Kennedy even took the unusual position of taking a second mortgage on the property as collateral, something few lenders would do.

“Kennedy was extremely responsive throughout the whole process,” adds Brown. “Many times with other lenders, things come up that can complicate and jeopardize the deal, but Kennedy made the process smooth and streamlined with no surprises.”

According to Wolfer, Kennedy’s research validated the strong market value of the proposed project. “A beachfront luxury condominium project in this part of Florida which is an older, well-established resort region of high appeal to wealthy buyers was a strong investment that we felt incurred minimal risks,” says Wolfer. “That’s why we took a second position on the property. That’s how strongly we felt about the project.”

Whether Kennedy is funding national or international real estate developments or assisting clients to overcome financial and legal obstacles, the company excels at resolving the many complex situations that can arise in the loan process. With nearly twenty years of experience as a direct private lender, Kennedy has amassed a national reputation for devising innovative strategies to deal with commercial property workouts, foreclosures, acquisitions, refinancing, bankruptcies and related situations. 

“There are very few lenders who can put together loan commitments as fast as we can,” says Wolfer. “We can do loans greater than $50 million with a commitment in two days and closing in two weeks. Many traditional lenders bail out of a loan because they simply lack the expertise to properly evaluate it.”

The Kennedy advantage — a staff of experienced loan officers and risk analysis experts, and an in-house due diligence team capable of addressing any financial scenario.

“We work hand-in-hand with our clients, offer guidance and advise them on the most appropriate path to take for their business venture,” says Wolfer. “That’s why we get so much return business and referrals. Our clients recognize the efforts we make on their behalf and appreciate the quality of our services.”

Wolfer points out that another factor that differentiates Kennedy Funding from the competition is its sensitivity to market conditions and the need to move quickly to seize opportunities.

“In our business, timing is everything. Within the global marketplace, there is no longer the luxury of waiting to act. Even the slightest delays can derail a deal. Particularly in real estate when so many things are dependent upon timing, such as permits and approvals, developers need lenders who can act quickly to meet their needs.”

Kennedy Funding is known nationally and internationally as a resourceful, key lender for commercial real estate projects of every type. In 1996, the lender branched out beyond its national service area into commercial loans in the international arena. 

In addition, Kennedy has expanded its lending scope to include enterprises across a wide variety of industry categories, including: commercial real estate, resorts and lodging, golf course development, sports complexes, media (TV and radio stations), retail, airlines, and a diverse range of business enterprises.