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Article: $3.5 Million Loan From Kennedy Funding Delivered in Record Time to Development Company in Florida.
- Article from:
- PR Newswire
- Article date:
- March 28, 2005
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HACKENSACK, N.J., March 28 /PRNewswire/ -- It took just one week from commitment to closing for Kennedy Funding, a direct private lender in New Jersey, to deliver on its promise of a $3.5 million dollar loan to a Citrus Springs, Florida developer.
Sky Development Group needed the funds to complete the purchase of 250 vacant lots approximately forty miles north of Tampa in order to develop them into single-family homes.
The loan was the first in Kennedy's new loan program, offering lower rates to borrowers with a higher percentage of equity participation, or who have income-producing property as collateral.
Prior to Kennedy, Sky Development ...