Kennedy Funding’s $15 Million Loan Deals Winning Hand to Developer’s Plans for Casino Complex in Biloxi, Mississippi

Biloxi, Mississippi – Peter A. Simon of West D’Iberville Development, LLC had a dream. He’d had it for a very long time. And he had methodically gone about making it happen.

Simon scouted the Biloxi, Mississippi market for several years, looking for a site to build a casino complex. He knew the Gulf Coast region was perfect for such an establishment, and he was determined to become a part of it. Finally, after patiently but relentlessly pulling things together, he had assembled 36 individual parcels into one 16.3-acre plot. It was a water-view site on the north side of the Back Bay in D’Iberville, just 2.5 miles north of the heart of the casino action in Biloxi. It was worth waiting and working for. It was perfect. And, to top it off, he had gotten site approval from the Mississippi Gaming Commission to build his casino.

Now, if only he could find a loan to get things up and running, he could let the games begin. And he wasn’t about to gamble when the fruition of his dream was literally within reach. So he went with a sure thing, and called Kennedy Funding.

Kennedy Funding, headquartered in Hackensack, New Jersey, is one of the largest direct private lenders in the industry. Since 1987, Kennedy has been known as the lender who can deliver the two most important commodities to a borrower: speed and flexibility. Borrowers can receive a commitment in mere hours, a closed loan in just days, and amounts from $1 million up to $100 million and more. Kennedy is also known in the industry as the lender who doesn’t shy away from the tough, problematic, or complex deals. In fact, they have successfully completed so many of them that it is said Kennedy can close transactions that other lenders won’t even consider.

Jeffrey Wolfer, Kennedy Funding President and Co-CEO, acknowledges that perception. “We decided early on that we were going to be an alternative to conventional lenders,” he said. “Instead of trying to apply the same rules and standards to everyone, we would look at each loan individually, and on its own merits. And instead of drawing the process out as long as possible, up to months in some cases, we would focus on speed. This philosophy has helped us take private lending out of the ‘hinterland’, so to speak, and bring it into the ‘mainstream.’ And in the current economy, where banks are hardly making loans at all, we’re actually more mainstream than the establishment institutions. In Peter’s case, we’re glad we were there for him. He had waited a long time, and put in long hours, to make this happen.” Wolfer smiled, then added, “I’m also pretty sure he didn’t want to wait any longer.”

Jonathan Weiner, Senior Loan Officer at Kennedy and primary contact on the deal, concurred. “Peter had done his homework. He knew Biloxi and the Gulf Coast were where the growing casino business was, and he wanted to be a part of it. He knew that all nine casino hotels along the strip that were completely or partially destroyed by Katrina were now open for business. And he knew that the Hard Rock Casino had recently opened. In short, he knew what he wanted, and we knew we could give it to him. It was a winning hand for all of us.”

Kennedy Funding can issue loan commitments in as little as 24 hours, which often leads to closings in as few as five days and, in some cases when time is critical, even less. Available financing ranges from $1 million to over $100 million, with rates as low as 9% and three points. The staff at Kennedy Funding is skilled in a wide range of business sectors beyond financing, and focuses an impressive amount of expertise, experience, and dedication on each loan request.

While specializing in commercial real estate bridge loans, Kennedy’s flexibility and diversity has also produced loans for a wide range of enterprises, including amusement parks, high-profile golf courses, TV and radio stations, airlines, even sports complexes. Throughout the world, Kennedy has delivered funds for conventional and unconventional projects, often succeeding where other financial institutions cannot or will not. Kennedy can fund up to 75% loan-to-value for commercial land development, acquisitions, workouts, refinancing, bankruptcies, and foreclosures.

	Kennedy Funding Expands International Presence With Virgin Island Loan Wintdots of St. Thomas Using $6.5 Million to Develop 'Green' Community
	Kennedy Funding Closes Four Loans in One Day Almost $40 Million in Domestic and Offshore Aid for Land Development and Restructuring
	$9.2 Million Loan from Kennedy Funding Gives Georgia Developer Just What He Needs to Stay in the Black and Stay on Track
	Kennedy Funding’s $15 Million Loan Deals Winning Hand to Developer’s Plans for Casino Complex in Biloxi, Mississippi
	Kennedy Funding Closes $3.9 Million Loan So Delaware Family Doesn’t Have to Sell the Farm
	Kennedy Funding’s Timely Loan Lets Ohio Developer Start Building Perfect Community for Single-Family Residents
	Kennedy Funding Buys Loan for $1.55 Million & Buys Borrower Two Years
	Superstar John McEnroe to Highlight The Kennedy Funding Invitational Tennis Tournament, July 9–13, 2008 Sponsorship Proceeds Will Benefit The Leslie Simon Breast Care Center at Englewood Hospital, and Nyack Hospital
	Kennedy Funding Loans Hawaiian Developer $7 Million for Big Project on Big Island
	$47.1425 Million Loan From Kennedy Funding Helps Idyllic Community Take Off in Eagle County, Colorado
	$15.1 Million Loan from Kennedy Funding Provides the Right Prescription for Pennsylvania Mental Health Care Center
	$29.3 Million Loan from Kennedy Funding Helps Florida Developer Make a Big Splash with Luxury Residential Community and Water Park Complex
	Fast $28.8 Million Loan from Kennedy Funding Helps Developer Build Resort for All Seasons in Utah Mountains
	$4.55 Million from Kennedy Funding is Second Loan in a Month to MOA Loan Helps Developer Build ‘Buffalo Bill’ Hotel near Yellowstone
	$47 Million Loan From Kennedy Funding Helps Florida Developer Shift His Town Center Project Into High Gear
	$23.2 Million Loan from Kennedy Funding Helps Developer Sink a Birdie on His Residential Golf Community
	$55 Million Loan From Kennedy Funding Means Smooth Sailing for Georgia Developer As Traditional Lenders Shy Away from the Residential Market, Kennedy Shares Borrowers' Vision & Steps in to Fill the Void
	$24.9 Million Loan From Kennedy Funding Brings Some Magic to Florida Residential Resort Project Near Walt Disney World
	With a Total of $70 Million in Loans, Kennedy Funding's Magic is Helping Build Florida Developer's Kingdom
	$13.5 Million Loan from Kennedy Funding Closes in Just Two Weeks & Saves the Day After Other Lender Drops the Ball
	$6.66 Million Raw Land Loan from Kennedy Funding Closes in Only 10 Days Loan Helps Texas Developer Purchase Another Property Just in Time
	$12.3 Million Loan From Kennedy Funding Helps Philadelphia Developer Acquire 71-Acre Tract Along the Delaware River
	Up Against the Odds and the Clock, Kennedy Funding Closes $7 Million Loan for HHH Nevada's Las Vegas Project in Just Over a Week
	$15.5 Million Loan From Kennedy Funding Helps Developer Bring an International Flavor to Chamblee, Georgia
	Hurricanes destroyed 119 homes...a $23.3 million loan from Kennedy Funding brightens the future for the new owners of West Palm Beach tower.
	Kennedy Funding Gains $200 Million Securitization from Fortis Bank 'Superpower' Lending Capacity Now Extends into the Billions
	$20 Million Loan from Kennedy Funding Helps Developer Acquire Prime Piece of Downtown Philadelphia Ambitious, Long-Term Plan Calls for 10,000,000 Sq. Ft. Development on Site Bigger Than the World Trade Center
	$14.5 Million Loan From Kennedy Funding Helps Save Developer's Plans for 50 Acres on Hawaii's Big Island Kennedy's First Deal in the Western Pacific a Testament to Skill & Determination
	Kennedy Funding's $3.72 Million Loan Helps Atlanta Area Mixed-Use Project Get Underway The Lofts on Antique Row Loan Closes in Only Two Weeks
	Kennedy Funding Nears $200 Million in Loans for Fiscal Year 2006
	Kennedy Funding Loan to Louisiana Developer Speeds Renovation of Hotel
	$2.13 Million Loan from Kennedy Funding Helps Hotel & Restaurant Owner Refinance and Consolidate
	Kennedy Funding Introduces Useful New Tools for Commercial Mortgage Brokers & Hard Money Borrowers
	Jeffrey Wolfer of Kennedy Funding Wins Coveted Award President & Co-CEO Named 2006 Forty Under 40 Winner
	Kennedy Funding Loans $2.1 Million to Florida Developer for Purchase of Championship Golf Course & Country Club in Florida
	Kennedy Funding’s $4.2 Million Loan Helps Illinois Developer Refinance 64-Acre Parcel Lender’s 2nd Loan to Ocean Atlantic/PFG-Westbury, LLC Keeps Development Plans On-Track
	$1.845 Million Loan from Kennedy Funding Helps California Developer Bring a Little Bit of Beverly Hills to Lexington, Tennessee
	Paul Goldstein & Englewood Hospital Big Winners at The Kennedy Funding Invitational
	$2.9 Million Loan from Kennedy Funding Helps Niagara Falls Investor Leap into the Hotel Business
	$1.65 Million Loan from Kennedy Funding Helps Pennsylvania Developer Turn Timeshares into Condos
	Timely Loan from Kennedy Funding Helps OneCap Partners Purchase 78 Acres in 'Next Las Vegas' $12 Million Loan Closes in Less Than a Week
	$7.8 Million Loan from Kennedy Funding Helps Partners Own a 403-Acre Piece of Maryland Raw Land Loan Closes in Just Two Week
	The Kennedy Funding Invitational to Benefit Breast Care Center at Englewood Hospital Will Feature Top-Ranked Tennis Players From Around the World
	$9 Million Loan from Kennedy Funding Helps Elias Brothers Keep Florida Development Plans Alive
	Kennedy Funding – 2 Loan Closings, 2 Countries, 1 Day.
	$3.864 Million Loan from Kennedy Funding Helps Kings Highway Acquire Land and Buy Out Partners
	$6.525 Million Loan from Kennedy Funding Helps a Los Angeles Condominium Conversion Get Under Way
	$1.2 Million from Kennedy Funding Will Help Make West Hills Golf Course a Driving Force in New Brunswick, Canada
	$9.78 Million Loan From Kennedy Funding Facilitates 571-Acre New York Resort Purchase
	$12 Million loan from Kennedy Funding saves Mississippi Shores Of Paradise project in wake of Katrina
	$50 Million Loan From Kennedy Funding to Saguaro Ranch Heats up the Tucson Desert With a 1,035 Acre/180-Lot Luxury Residential and Intimate Resort Development
	JEFFREY WOLFER AIDS KATRINA RECOVERY EFFORT
	$6.8 Million Loan From Kennedy Funding Puts the Beat in Houston Nightclub
	Kennedy Funding Sets 'Land Speed' Record — Closes $3.25m Vegas Acquisition Loan in 48 Hours
	$40 million loan from Kennedy Funding facilitates 214-acre Florida land purchase
	8 properties in 5 states change hands in one transaction thanks to $6 million loan from Kennedy Funding
	Kennedy Funding Loans $6.5 Million for One of the Last Land Parcels On the Outer Banks
	$12 Million Loan From Kennedy Funding Buys Prime Land on the Navesink River
	$4 Million From Kennedy Funding Buys Hotel And Additional Land Near Walt Disney World
	$5.5 Million Acquisition Loan from Kennedy Funding Puts Michigan Condos Back on Track
	Kennedy Funding Loans $10 Million for Park Avenue Duplex Condominium
	$2.5 Million Loan From Kennedy Funding Takes Detroit Hospital Off Life Support
	Kennedy Funding Lends $2.7 Million to Aquaplex Project in Wisconsin
	Kennedy Funding Rescues Blue Ridge Mountains' Developer
	Kennedy Funding Introduces New Low Rate Loan Program
	Non-Profit Philadelphia Hospital Gets Life-Saving Loan of $5.325 Million From Kennedy Funding
	$2.5 Million Loan From Kennedy Funding Fuels Purchase of Florida Sunoco Station
	$3.5 Million loan from Kennedy Funding delivered in record time to development company in Florida
	Kennedy Funding's $2.6 million loan rescues bankrupts company in Camden, New Jersey
	New Resort to Rise on Sandy Beach in Puerto Rico, Thanks to Loan From Private Lender Kennedy Funding
	$4 Million Loan From Kennedy Funding Helps Developer Bring Gaming Enterprise to Mexico City
	Country Club with Golf Course Coming to Maine with Help of $3.4 Million Loan From Kennedy Funding
	Home improvement company spruces up with $3.5 million loan from Kennedy Funding
	Highrollers meet steamrollers as Kennedy Funding loans $18.5 million for major development on Las Vegas strip
	Kennedy Funding Loans $3.9 Million to Developers for St. Croix, Virgin Islands Resort
	Kennedy Funding borrower returns for second loan to build condos on island of Cozumel, Mexico
	Kennedy Funding's $3.4 million loan will help provide affordable housing in Mexico
	Kennedy Funding's $5.2 million loan paid back by borrower in record time
	Kennedy Funding loans $6.6 million to developer of Florida beachfront condos
	Kennedy Funding lands in paradise with $5.4 million loan to developer of Fiji island resort
	Kennedy Funding loans $3 million to California developer
	Kennedy Funding Lends $1.5 Million to Colorado Developer for New Community adjacent to Vail's Keystone Resort
	Kennedy Funding Lends $2.3 Million to Mexican Developers
	Kennedy Funding Receives $14.5 Million Payback On Defaulted Loan from Penthouse Founder Guccione
	Kennedy Funding Lends $18 Million to Developers of Next 'Sun Valley'
	Kennedy Funding issues $5.3 million loan to Travis Boats & Motors (NASDAQ: TRVS)
	Kennedy Funding bails out South Florida Developer with quick $3 million second mortgage bridge loan
	Kennedy Funding lends $1.8 million to Port Saint Lucie, Florida Developer
	Kennedy Funding Expands Media Expertise With Loan To Hispanic Radio Station
	Kennedy Funding Lends $6 Million To Leading Operator Of Charter Schools
	Kennedy Funding Scores Hole-In-One with Multimillion Dollar Loan to Golf Course Developer
	Kennedy Funding’s Two Day Loan Rescues Building From Foreclosure
	In Private Lending, Bigger is Better
	Kennedy Funding Loan of $2.2 Million Breaths ‘New Life’ Into Funeral Home
	Quick $3.5 Million Loan by Kennedy Funding Funds Acquisition of Former Hospital
	Michigan Hoteliers Do It Their Way with Multimillion Dollar Loan from Kennedy Funding
	Guccione Gets $35 Million Reprieve
	NJ Lender Bails Out Auto Dealer in Far-Off St. Maarten
	Kennedy Funding Expands Lending Expertise with Loan to NYC TV Station
	Kennedy Funding Plays Key Role in $66 Million Loan to Florida Developer
	Kennedy Loan Funds Conversion of Dormant Inn to a State of the Art Ramada Plaza Hotel
	Kennedy Funding Lends $16.5 Million to Developer of Arizona Championship Golf Club
	Private Lenders Emerge as Main Source of Capital as $30 Billion in Commercial Loans Are at Risk
	Hackensack Lender Provides $7.1 Million Loan for Major Land Deal in Texas
	Kiwi Gets $2.2 Million to Help Recovery
	Kennedy Funding's $1.1 million loan rescues recycling pioneer from bankruptcy
	Kennedy Funding takes to high seas with $5.1 million loan to international shipping line
	Kennedy Funding lends assisted-living housing facility $500,000 to pay down $1.9 million Hud loan
	Kennedy Funding's $7.6 Million Loan Helps MPTV, Inc. Launch Las Vegas Time Share Project
	Kennedy Funding rescues bankrupt developer with creative financing

Back to Top