Kennedy Funding Believes That Dealing with Integrity is the Only Way To Close a Deal

Released on: April 1, 2008, 1:24 pm

Press Release Author: Results Inc.

Industry: Financial

Press Release Summary: Kennedy Funding recognizes the importance of speed, and that loans must often be structured around each client's unique set of financial circumstances.

Press Release Body: Hackensack, New Jersey, April 1, 2008 -- Kennedy Funding is a commercial real estate lending company that specializes in unconventional financing where speed, flexibility, and creativity are the key ingredients that set them apart from the competition. Kennedy began over 20 years ago and, since that time, their unique lending programs have made them one of the largest and most successful direct private lenders in the industry.

Kennedy Funding recognizes the importance of speed, and that loans must often be structured around each client's unique set of financial circumstances. Accordingly, their program has been providing extremely fast service and creative funding solutions throughout North America since 1987, and internationally since 1996. Since their inception, they have closed loans around the world, amounting to literally hundreds of millions of dollars, and each year, their average loan total increases.

And Kennedy prides itself on knowing their way around international regulations. While international deals can be rewarding for the insightful lender, there are complexities and considerations that must be taken into account. First and foremost, lenders need patience. They have to learn, understand and become comfortable with the different laws and regulations of another country. That takes time and effort.

Laws relating to commercial loans differ from country to country, so Kennedy takes care to be fluent in all of them, on an ongoing basis. Investing the time required to do this is well worth the effort, as they are confident of not inadvertently running afoul of a foreign country’s rules and regulations.

Some of the hurdles to conducting international investment transactions can be intimidating and, at times, seem insurmountable. Often, there aren’t any of the same laws, regulations or guidelines that exist in the U.S.’s real estate infrastructure. Other times, things seem to take on a life of their own. Lucid road maps to the process can be hard to find, or totally nonexistent.

Lenders must also be aware of local politics, which can have a direct bearing upon any business they wish to conduct. If the atmosphere is tranquil, chances are any prospective deals they have in the works will be, as well.

According to Jeffrey Wolfer, Kennedy President and Co-CEO, “Last year, we did over $600 million in loans, and we’ll probably exceed that in 2008. Why? Because we close a lot of loans. The reason? Because we are able to, and willing to, and borrowers know this, which is why our clientele grows steadily with each passing year. We consider it a testament to the way we do business, which is, in a word, ethically. If we conducted ourselves in any other fashion, how long could we realistically remain in business? My personal opinion is: Not very.”

In fact, Kennedy’s estimable influences are felt in many other venues outside of the lending arena. Jeffrey and his brothers Kevin and Gregg Wolfer are heavily involved in numerous philanthropic causes. They have made significant contributions on behalf of the victims of Hurricane Katrina, and Jeffrey serves as a member of the Advisory Board of Hoop-A-Paluza, Inc., a non-profit organization for children. He contributes annually to The Nurturing Place at the York Street Project in Jersey City, a nationally accredited early childhood development center for homeless and economically disadvantaged children. And Kevin has been instrumental in the founding and development of The Kennedy Funding Invitational, an annual, world-class tennis tournament whose proceeds are donated to the Leslie Simon Breast Care and Cytodiagnosis Center at Englewood Hospital and Medical Center in Englewood, New Jersey.

Adds Wolfer: “We only know of one way to do business – the right way. We have no intention of ever changing our business practices. We’ve always been proponents of integrity, honesty, and openness … and we always will be.”

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 of the essence, even faster. Available financing ranges from $1 million to over $100 million, with rates as low as 9% and 3 points. The staff at Kennedy Funding is skilled in a wide range of business sectors beyond financing, and they focus a great deal of collective expertise and dedication upon each loan application.

While Kennedy specializes in commercial real estate bridge loans, their 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, and sports complexes. Across the country and around the world, Kennedy has produced funds for conventional and unconventional projects, often succeeding when other financial institutions cannot. They can fund up to 65% loan-to-value for commercial land development, acquisitions, workouts, refinancing, bankruptcies, and foreclosures.

www.kennedyfunding.com
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Web Site: http://www.kennedyfunding.com

Contact Details: Kennedy Funding, Inc.
Two University Plaza, Suite 402
Hackensack, New Jersey 07601

Tel: 1 800.342.8500
Fax: 201.342.8373
Email: info@kennedyfunding.com