Kennedy Funding is a private lending company. It gives loans for commercial real estate projects. These include land development, construction, or property purchases. The company claims to offer fast approvals and flexible terms.
They work with borrowers who might not get loans from banks. Kennedy Funding has been in business for over 30 years. They operate in the U.S. and other countries.
Understanding the Ripoff Reports
Some websites like Ripoff Report and BBB (Better Business Bureau) have complaints about Kennedy Funding. These reports accuse the company of unfair practices. Common issues include high fees, sudden changes in loan terms, or delays in funding. A few borrowers claim they lost money after working with the company.
Not all reviews are negative. Some customers praise Kennedy Funding for providing loans when banks refused. However, the negative reports have raised questions. People want to know if the company can be trusted.
Common Complaints Against Kennedy Funding
High Fees: Borrowers say Kennedy Funding charges fees much higher than expected. These include application fees, due diligence fees, or legal costs. Some claim fees were not explained clearly.
Loan Delays: Projects can fail if funding arrives late. A few reports mention delays in receiving money after signing agreements.
Changing Terms: Some borrowers say loan terms changed suddenly. For example, interest rates or repayment schedules were adjusted without warning.
Communication Issues: Customers report difficulty reaching the company’s team. Emails or calls went unanswered during critical times.
Kennedy Funding’s Response to Allegations
Kennedy Funding denies most complaints. They state that loan terms are clear in contracts. The company says fees cover third-party services like legal reviews or property inspections. They blame delays on incomplete paperwork from borrowers.
In 2020, Kennedy Funding sued a former client for spreading false claims online. The court dismissed the case, but the company says it fights misinformation. They encourage unhappy customers to contact them directly.
How to Evaluate Lender Complaints
Check Multiple Sources: Look for reviews on BBB, Trustpilot, or Google. Avoid relying on one website.
Read Details: Complaints without specific details (dates, names, documents) may be less reliable.
Look for Patterns: If many people report the same issue (e.g., high fees), take it seriously.
Verify Legal Actions: Search court records for lawsuits involving the lender.
Steps to Take Before Choosing a Lender
Read Contracts Carefully: Ask questions about fees, timelines, and terms. Get everything in writing.
Compare Lenders: Talk to multiple lenders. Check interest rates, fees, and customer reviews.
Ask for References: A good lender will share contacts of past clients.
Plan for Delays: Have backup funds in case the loan process takes longer than expected.
