HACKENSACK, NJ, July 24, 2006 – Investor Daniel Lee of Speed Group, Inc. knows a great deal when he sees one. And when he saw the Falls Plaza Hotel in Niagara Falls, Ontario, Canada being sold at auction, he knew he wanted it. The 1.59-acre property includes a 113-room, 11-story tower hotel, a 32-room, two-story motel, and a 403-seat restaurant. Located on Ferry Street, the property paralleled the Niagara River. Lee’s plan was to either re-sell the property relatively quickly, invest in some refurbishing and cosmetic makeovers and then sell it, or complete the makeovers and operate it himself until it sold. In any event, all Lee needed was to locate and secure an acquisition loan to complete the deal and set things in motion.

As it turned out, finding a lender ready, willing, and able to fund Mr. Lee’s acquisition wasn’t an easy task. Apparently, there were contractual issues with the seller of the hotel, and certain building structural concerns, which needed to be addressed. Fortunately, Lee was put into contact with Kennedy Funding through Meridian Capital Group, a leading mortgage firm that brokered the $2.9 million loan. Emanuel Westfried, the Meridian broker, said, “I had worked with Kennedy once before, and I knew what they could do. For a deal like this one, taking place out of the country, with several issues, most lenders wouldn’t have even gotten involved. But we knew Kennedy could deal with the problems, close the deal, and close it quickly, so we didn’t hesitate to go back to them. And they did it.”

Kennedy Funding is a direct, private lender headquartered in Hackensack, New Jersey. Jeffrey Wolfer, President and co-CEO, commented, “We’ve distinguished ourselves in two distinct areas: flexibility and speed. We saw a need in the marketplace for creative financing that could overcome the obstacles imposed by traditional lending institutions and conventional loan requirements. We’re known as being able to close some of the toughest loans out there, and quickly.” The Speed Group, Inc. deal was a case in point, he said. “There were some issues to be dealt with, but the Niagara Falls area is a popular summer vacation destination, there will always be a market for reasonably priced hotel rooms geared towards families, and Lee got the property for a good price. We had no problem making the deal.”

Daniel Lee also seemed pleased. “Kennedy Funding understood the complications in the loan very well. They were very knowledgeable about every aspect of the deal, in fact. There was a good synergy between everyone involved, from beginning to end, and we’re very happy with their professionalism — and with the hotel.”

Kennedy Funding can issue loan commitments in as little as 24 hours, which often leads to closings in as little as five days and, in some cases when time is critical, even quicker. Available financing ranges from $1 million to $100 million and more. The staff at Kennedy Funding is skilled in a wide range of business sectors beyond financing, and focuses an impressive amount of expertise, experience, and dedication on each loan application.

While specializing in commercial real estate bridge loans, Kennedy’s flexibility and diversity has also resulted in loans for a wide range of enterprises, including amusement parks, high-profile golf courses, TV and radio stations, airlines, even sports complexes. Throughout the world, Kennedy has produced funds for conventional and unconventional projects, often succeeding where other financial institutions cannot. Kennedy can fund up to 75% loan-to-value for commercial land development, acquisitions, workouts, refinancing, bankruptcies, and foreclosures.