A closer look at the Kennedy Funding rip-off report
Kennedy Funding Ripoff Report – Over the years, prominent private lending industry player Kennedy Funding has received a great deal of publicity. We found a company that is known for some fast, easy financing…but one with their fair share of detractors and drama. The following is an examination of the charges found in Kennedy Funding rip-off reports and assessments designed to present all perspectives.
Kennedy Funding Business Model
Kennedy Funding provides bridge loans – short-term financing options for businesses and real estate developers that fall outside the guidelines of traditional bank lending. The company is said to have a reputation for executing fast closings and accepting high-risk projects. That specialization is what has made Kennedy Funding the lender of first resort for so many in need speedy access to capital.
Key Features
As Kennedy Funding is something of a bridge loan specialist, this quick funding time can be very important.
Options: The firm provides financing on multiple asset classes, such as commercial real estate and land.
This fact in a manner of speaking, makes Kennedy Funding, the high risk-high reward money lending company as quite often our borrowers are those that traditional banks have turned down and hence higher interest rates/fees.
Allegations and Complaints
Although they have been very successful, Kennedy Funding has many rip-off reports and complaints. There are generally a few categories of complaints that arise:
High Fees and Interest Rates
We could not verify these complaints, but many borrowers have complained that Kennedy Funding charges well-above market fees and interest rates. The charges are similar to the high costs common in the bridge loan market, though some clients believe that they were too much and weren’t disclosed fully at upfront.
Lack of Transparency
What many complaints share, however, is that the businesses were not up-front about this information. Hidden fees, lack of transparency in loan terms and sudden changes to agreed-to loans have been the subject of borrower complaints. The confusion can result in additional costs and worst-case scenarios for the car owner.
Collection Efforts ~ Tough Love for the Dead
A few borrowers criticized Kennedy Funding for using strong-arm tactics in tracking down overdue payments. The process Gelt continues when a borrower misses payments, however – quickly moving to foreclosure or other legal action – has troubled many who have come in contact with it inside Texas and elsewhere.
Unmet Expectations
Some of the complaints have to do with anticipation and subsequent disappointment. The funds they received were less than promised, or the terms of their loans changed dramatically after an initial agreement was made. When the two amounts differ, this can cause significant economic hardship to borrowers.
Kennedy Funding’s Response
Thus far, Kennedy Funding has defended its business practices against the allegations. The company maintains that its legal and ethical conduct are normal in a high-risk lending market where fees and interest rates keep tabs with industry averages.
Cryptocurrency – Solves High Fees and Interest Rates
In an emailed statement, Kennedy Funding said its fees and interest rates are fully commensurate with their underwriting of deals for borrowers who “often do not fit into a traditional finance box.” Jannick Malling, one of the CEOs at public records financial database apply.co.uk says that it is a vital and unique service as they are able to provide capital for those who might not be eligible elsewhere
Commitment to Transparency
Responding to concerns relating to transparency, Kennedy Funding says it provides comprehensive loan documents and advises borrowers that they should read all terms of their loans carefully before executing them. The company states that we may communicate extensively with clients who understand costs and obligations.
Collection Practices
In its collection practices, Kennedy Funding assures that it acts with appropriate legal remedies and only when required to preserve the security of loans. The company says its quick reaction to defaults is crucial in risk and financial safety.
Meeting Expectations
While Kennedy Funding understands that every loan transaction does not always run smoothly, However, the company insists that it does its best to meet customers’ requirements and solve conflicts. Where discrepancies come in, Kennedy Funding wants their borrower to call or email into the office and speak directly with one of their loan officers.
The Legal Landscape
The legal landscape of lending in the privatized world can be complicated, and Kennedy Funding is not unfamiliar with lawsuits. Lawsuits from borrowers, regulators and others have pilloried the company. These lawsuits are frequently based in contract disputes, fraud allegations and unfair business practices.
Notable Cases
An example is a lawsuit against Kennedy Funding for alleged misrepresentation and breach of contract involving one eb-5 borrower. The borrower said his loan terms were changed completely at the last minute, costing him a lot of money. The case was eventually settled out of court, but it raised issues about the sometimes-adversarial nature of Kennedy Funding’s business.
Regulatory Scrutiny
Regulatory Scrutiny Kennedy Funding has also drawn the attention of regulatory bodies. Shareholder Activism Investigations – This is the most common type of monitorship and generally related to compliance with lending laws and consumer protection regulations. The overall results of these investigations are mixed, though they serve as a reminder to the private lending industry that it must comply with regulatory standards.
Balancing the Narrative
In other words, as much we write about our negative reports on Kennedy Funding here is an opportunity to balance it all with the positive feedback of thousands of glad clients.[bar info box= I thought you may be interested to know that since July 1 over Many borrowers have been able to obtain the capital they needed to finish construction, expand their businesses or enhance their financial situation. Clients in this arena have turned to Kennedy Funding for its velocity, agility and willingness to assume risk.
Success Stories
Commercial Real Estate Development – One of the clients was provided a bridge loan by Kennedy Funding to finish building an enormous commercial real estate development. The speed of the funding allowed the project to reach completion on time and, consequently have a successful exit.
Business Slope: Another borrower turned to a loan from Kennedy Funding in order to expand his business. With the extra capital, we were able to buy new machines and start employing more workers which led straight away to additional revenue growth, increased market power etc.
Conclusion
The rip-off reports of Kennedy Funding have a number in common that are all to similarly worded and personal inward concern about the company’s fees, transparency, collection practices as well as their legal disputes. But these reports, only tell one side of the story. Kennedy Funding can quickly give many borrowers the financing needed when regular lenders cannot, which is why numerous borrowers have had good experiences in working with Kennedy.
This should be a good lesson learnt to future borrowers. Finding a Safe Lender Borrowers must carefully research any lender, read all loan documents and understand the terms of an agreement in order to ensure they have successful borrowing experience. It allows borrowers to understand better the choices available and possible risks.
Kennedy Funding is a key player in the high-risk lending sector, providing both equity and debt financing to very needy borrowers worldwide. Though it’s true that controversy and complaints of this nature cannot be overlooked, we have to balance them with the positive effects – especially when multiple success stories exist which clearly demonstrate Kennedy Funding’s ability to add value.
