Recent Canadian Closings

Here are some of our international loans.  What Kennedy did for them, we can probably do for you.

Timely Loan From Kennedy Funding Helps Transform Canadian Lodge into The Place to Stay

Hackensack, NJ – When John Wegnar purchased the Northwoods Waterfront Lodge in Red Lake, Ontario, Canada, he had many ideas. He immediately began to give the lakeside lodge a complete face-lift, installing log veneer walls, new carpeting, plumbing and electrical fixtures, even cabinetry and furniture hand-crafted by Wegnar himself out of knotty pine. He was turning his lodge into a showplace, and it showed.

However, there was more that had to be done to the lodge, and Wegnar wanted to convert a structure he owned across the street into a cabin. He needed a loan in order to finish both projects and pay off present debts. Therefore, he offered the lodge and the parcel across the street as collateral, and then went shopping. And could not find any takers – until he spoke with Kennedy Funding, a direct private lender in Hackensack, New Jersey.

Kennedy looked at Wegnar’s proposal and at the property, and promptly agreed to a $600,000 loan. Jeffrey Wolfer, president and co-CEO of Kennedy Funding, played a key role in the transaction. “The resort was in excellent condition, and getting more so every day due to John Wegnar’s attention. During the spring, summer and fall months, the hunters, anglers, and foresters who visit the area pretty much know that Northwoods Waterfront Lodge is, by far, the nicest lodging facility in the area. And with John working as the chef, it is probably the best dining facility, too. We’re happy to have been able to help.”

Wegnar plans to use part of the loan to rebuild a ramp on the north side of the lodge, set a slab in the rear for cleaning fish caught in the lake, increase his freezer capacity, and finish the cabin conversion across the street. “Prospects look good,” said Wegnar. “Kennedy has a reputation for accepting the kinds of collateral that most other ‘traditional’ lenders won’t touch. They were quick, too, much quicker than I ever expected. I doubt I could ever have gotten this kind of attention from a bank.”

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