$200m securitizations gives Kennedy more lending muscle.

Kennedy Funding has announced that it has secured a $200 million securitization from Fortis Bank, an international financial services provider engaged in banking and insurance.

Headquartered in Europe, Fortis offers private, business, and institutional clients a comprehensive package of products and services through their own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalization of EUR 42 billion (USD 54.7 billion), Fortis ranks among the twenty largest financial institutions in Europe.

Their sound solvency position, their presence in 50 countries and their dedicated, professional workforce of 59,000 enables them to combine global strength with local flexibility and provide clients with outstanding support.

Jeffrey Wolfer, president and coCEO of Kennedy Funding, speaking about the recent alliance from his headquarters in Hackensack, NJ, said, "Under this new arrangement with Fortis, we now have the opportunity to make substantial inroads into the capital market, while making significantly greater funds available to our clients, at even more favorable rates."

He further observed that Kennedy's reputation for rapid closing and delivery of funds could only be enhanced by the new arrangement.

"We've always been fast," he said, "and now, with the world-class funding sources of Fortis behind us, there's virtually nothing to prevent us from providing funds on an 'immediate' basis, given the right situation. In addition, our capacity to make more loans is significantly improved."

Kennedy Funding remains the borrower's best option for loans that do not meet the restrictions and requirements of traditional lending institutions. Such deals include raw land loans (both domestic and international), and a broad range of commercial enterprises, from golf courses and hotels to resorts and mixed-use communities. The loan process at Kennedy will continue as it is, namely quick assessments, due diligence, and a deep, abiding respect for the underlying value and unconventional nature of an undertaking. "We go where the banks and other conventional sources can't--or won't," added Wolfer. "We're known as the lender that makes the impossible look suddenly possible. Now, with the new alliance with Fortis, that's truer than ever."

For their part, Fortis gains the opportunity to continue entering new markets and asset categories, while maintaining their excellent track record on behalf of the investors, funds, and corporate entities they represent. The association is a win-win-win situation for Kennedy Funding, Fortis, and the investors, borrowers and brokers looking for appropriate and available funding.