Question & Answer with Edwin Urrego, Executive Loan Officer at Kennedy Funding

Q: Describe what Kennedy Funding’s specialty is.
A: Kennedy Funding provides short-term bridge loans secured by commercial real estate. Some define it as hard money or bridge financing.  We specialize in land, but offer loans on all types of commercial real estate, including office, retail, multifamily, etc.
As a direct lender, we have the ability to underwrite loans extremely quickly, as opposed to going through conventional lenders where you may have to go through lots of red tape and slow-moving loan committees. In many cases, they are not lending their own capital. 

Q: How does Kennedy Funding differ from traditional lenders?
A: I think there are a few different ways that we differentiate. Conventional lenders tend to focus more on the individual — their creditworthiness, bank statements, and credit scores. If it’s development, they’ll look at the borrower’s resume and how many projects they’ve completed in the past.
We strictly focus on the land or the building value. If it’s office, retail, or industrial, we focus on the real estate and making sure the property has items such as, but not limited to a clear title, title insurance, and is environmentally clean. As long as those conditions are met, we should be able to move forward and close the loan. 

Q: Walk us through a typical deal from the first time you talk to the borrower to closing.
A: Typically, a broker provides us with a loan application that outlines the details of the proposed collateral. It explains the project and summarizes whether it’s an acquisition, refinance, cash-out, or other items related to the property.
We review the information and if it’s something that has a good chance of moving forward, we schedule a call with the borrower. On that call, we walk them through our process, which includes providing a letter of interest and then a draft loan commitment.
From the time the loan commitment is executed, we can fund in 30 days or less.

Q: On that initial call, are there things you listen for — red flags or positive indicators?
A: A transaction where the borrower is coming to the table with a good amount of their own personal capital is always a positive sign for us. In some cases, it can speed up the closing process where we can make certain items post-closing items.
Some red flags are bankruptcies or a borrower in default on another loan. Those situations can be more problematic. That doesn’t mean we won’t make those loans, but they can complicate things.
Full transparency on both ends from the beginning is very important so everyone understands the situation.

Q: What is one of the biggest misconceptions about private or hard money lending?
A: One of the biggest misconceptions is that borrowers assume a hard money lender will simply do a quick title rundown, a fast appraisal, and then show up with a briefcase of money within two days.
We can close very quickly, but there is still a process. Instead of underwriting the individuals, we’re underwriting the asset. Fast closings are possible, but that assumes the borrower is able to provide the necessary items required to close such as clear title, insurance, and a clean Phase I environmental, etc.

Q: How many years have you been with Kennedy Funding, and how has your role evolved?
A: I’m going on my 24^th year. I started as a junior loan originator — reaching out, making cold calls, and contacting brokers. Over time, my role expanded to include marketing and advertising, negotiating contracts and loan commitments, and making sure deals ultimately make it through to closing.

Q: Kennedy Funding is known for big loans — $30 million, $40 million, $50 million. What opportunities do you expect for loans that size in 2026?
A: Our type of financing is always tied to market trends and market conditions. Any time conventional banks tighten their guidelines or stop lending in certain markets, that opens up new opportunities for us.
Borrowers who might have been able to obtain conventional financing a year ago may now have to turn to private lenders, which creates opportunities for us.

Q: What property scenarios are most suited for those larger loans?
A: We like situations where a client is buying land for $50 million and needs $25 or $30 million to complete the acquisition. That’s an ideal loan for us — they’re putting several million of their own money into the deal, and we come to the table with 50% or 60% of the purchase.
Many conventional banks will only consider major markets for loans that large. We have no issue providing loans in secondary markets and are not restricted by geography when determining loan size.

Q: Why do international borrowers seek out Kennedy Funding?
A: Most conventional lenders are not providing financing overseas unless it’s to extremely large corporations or developers.
We focus on the real estate and make sure we have the right law firms representing us in international markets. We’re provided with documentation similar to what we would receive in the U.S.
As long as the government is stable and we can secure a first position, we’re usually comfortable lending in foreign countries.

Q: What is your philosophy on communication with borrowers and brokers?
A: The key is being responsive to borrowers and brokers and being knowledgeable about our programs so they can understand them and in return provide their clients with the proper information.
Getting back to people within 24 hours has always been something I’ve tried to focus on, whether the news is good or bad. Most people appreciate that.

Q: What is the most satisfying part of your job?
A: Seeing someone’s vision and being able to help them achieve it always makes the job easier.

Q: What’s the best compliment you’ve received?
A: The best compliments have come from brokers who appreciate how transparent we are in our process. That’s something they haven’t always experienced with other lenders. They’ve been very appreciative that everything is out in the open.