Kennedy Funding Nears $200 Million in Loans for Fiscal Year 2006

HACKENSACK, N.J., Sept. 20 /PRNewswire/ -- Kennedy Funding, the world's largest direct private lender, announced it is approaching its projected $200 million mark earlier than previously anticipated, and is closing in on its milestone goal of $300 million by year's end -- a 50% increase over last year's figures. Headquartered in Hackensack, New Jersey, Kennedy is a strategically and tactically innovative organization serving the needs of borrowers worldwide. Having virtually invented the situational lending niche, Kennedy specializes in loans secured by all types of real estate, including raw land, and closes loans that other, more traditional lenders often construe as 'difficult.'

Illustrating that specialty, Jeffrey Wolfer, President and co-CEO of Kennedy, says, "Most standard lending institutions are hesitant to consider raw land as collateral, but we thrive on it. Whether it's a golf course, amusement park, resort, airport, or condominium complex, we see the value in the client's vision. We've made commitments in as little as 24 hours, even with just the raw land as the only collateral, which reflects the kind of speed and flexibility few, if any, lenders can match." In addition to a major reduction in red tape, Kennedy's depth and attention to detail is obvious in each and every loan they make, thus allowing Kennedy's professionals to get a complete understanding of the collateral real estate quickly. It's a fact that creative funding takes more energy and focus than conventional funding, but Kennedy's clientele seems to agree that the results more than make up for it, and make the rewards far greater.

"We believe in doing things by the numbers," adds Kevin Wolfer, co-CEO. "We mean big numbers, and we mean worldwide. In just six months, we closed 23 loans in three countries and thirteen states, for a total of $131 million." Kennedy has been a global force since 1996, and leverages their land development and acquisition loans to cement relationships between themselves, brokers, and the banking industry.

Gregg Wolfer, co-CEO and the third of the Wolfer brothers, sums things up. "Kennedy Funding really is America's leading hard money lender. We specialize in bridge loans for land acquisitions and development, workouts, bankruptcies and foreclosures, among other things. We're known for providing fast, creative solutions to borrowers who are stymied by the traditional lending institutions. And we're fast. We can issue loan commitments in 24-hours, which often leads to closings in as little as 5-days and, in some cases when time is critical, even less. We saw a need in the marketplace for creative financing that could overcome the obstacles imposed by conventional loan requirements, we met that need, and we'll continue to do so."

Kennedy Funding is a commercial real estate lending company that specializes in unconventional financing where speed and attention to special circumstances are critical. Our unique lending program has made Kennedy Funding one of the largest direct, private lenders in the country. At Kennedy Funding, we recognize the importance of speed, and that loans must often be structured around each client's unique set of financial circumstances. Our program has been providing lightning-fast service and creative funding solutions throughout North America since 1986, and internationally since 1996.

http://www.kennedyfunding.com/