16A — November 8 - 21, 2019 — Lender’s Directory — M id A tlantic
Real Estate Journal
www.marej.com
L ender ’ s D irectory By Gregg Wolfer, Kennedy Funding How to close a loan by the end of the year
A
capability, but it shows that the lender will follow through as well. Other lenders simply may not show up at the closing table, leaving you high and dry. If the lender makes it happen for other borrowers, you can move forward with confidence that the lender can replicate that success once again before the year ends. Once you’ve decided to move ahead with a direct private lender, remember that timeli- ness is a two-way street. While a direct private lender won’t ask for detailed financial state- ments, certain essential infor- mation is necessary to process a potential borrower’s applica- tion, and delays in providing that information canmean that the target deadline isn’t hit. You shouldn’t have to lose out on exciting commercial real estate opportunities this year because the lending process will take you into the new year. Partnering with a good, proven, and results-driven direct pri- vate lender like Kennedy Fund- ing can ensure that your loan closes before the clock strikes midnight on December 31st. Gregg Wolfer is chief op- erating officer of Kennedy Funding, a direct private lender based in Englewood Cliffs, New Jersey. Kennedy Funding Q&A Area of Interest: Bridge financing, hard money, asset based. Who is your target mar- ket? Borrowers seeking short- term real estate secured loans. What is your most note- worthy transaction or project this year? We closed on our first loan in South America this year. A land loan in Colombia. What separates you from the competition? We are a direct private lender which allows us to be able to fund loans that are outside the box. Name some of your most unique qualities/reasons why someone should do business with your finan- cial institution? We are ex- tremely quick with providing letters of interest and loan commitments. We have over 30+ years of experience and being in business. We have over $3 billion in closed loans with closings in almost every state as well as over a dozen countries.
s any commercial real estate professional knows, the journey to
qualifications, some of which have nothing to do with the project at hand. Not to men- tion, these institutions require a tidal wave of information to even be considered, taking up more of your time in the process. When you’re staring down a deadline that’s only a few short weeks away, you simply do not have the time to wait for a traditional lender. The longer it takes to secure fund- ing, the more the project stalls, holding up every aspect of a commercial real estate project. That means the unique oppor-
tunity presented to you in Q4 could sail right by you into the next year. When time is of the essence, direct private lenders like Kennedy Funding should be your first call. Free of the con- straints presented by a tradi- tional lender’s laundry list of strict criteria, direct private lenders have the freedom and the flexibility to examine the merits of each deal, shaving significant time off the typical approval process. This also could improve your chances of being approved, as direct private lenders will look at
the entirety of the opportunity and not outright reject an ap- plication based on location or property type. Furthermore, this shortened approval pro- cess does not require the same extensive documentation as a traditional lender. Borrowers also must work with a direct private lender who can demonstrate a long track record of success. The only way for a company to prove they have the goods is to show that they’ve successfully closed loans many times over. Not only does a healthy portfo- lio of closed loans demonstrate
closing a loan is not exactly a speedy one – a fact even more press- ing if you’re r a c i ng t he calendar to close a loan by the end of
Gregg Wolfer
the year. Banks and other tra- ditional lending institutions can take months to review an application against a scruti- nous and exhaustive list of
Call today and close by December 31st! How’s that for a happy new year?
Direct private lender. Borrow $1million to $50 million. Fast! 1-800-342-8500 or KennedyFunding.com
land, development and acquisitions, bankruptcies, discounted payoffs, note purchases, worko
cquisitions, bankruptcies, discounted payoffs, note purchases, workouts and foreclosures
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