Englewood-based Kennedy Funding announced on Tuesday that it closed a $1.6 million land loan for Diamond J Farms LLC, an agricultural property located near the Idaho/Wyoming border.
The loan proceeds will provide the Idaho Falls-area farm with essential funding for debt payoff and working capital. Diamond J Farms, which has been farming for five generations and grows Idaho potatoes, barley for Anheuser-Busch, and wheat for General Mills, originally purchased the land in 1984.
The undeveloped agricultural property, located at 391 North 35 West, consists of three separate parcels totaling 159 acres and is valued at $3.2 million. Its convenient location near major routes like I-15, U.S. Route 20, and U.S. Route 91 provides strong regional access for transporting its products.
The land loan presented unique challenges that traditional lenders often avoid. According to Mark Falzone, senior loan officer at Kennedy Funding, the loan was secured by multiple properties—a cabin and a farm—a structure not all lenders permit.
“Kennedy Funding has earned an enviable reputation for its ability to overcome obstacles. We work tirelessly to ensure a successful loan closing,” Falzone said. He noted that as a direct private lender, the firm can “move quickly, cut through red tape, and focus on real value instead of rigid traditional lender formulas.”
Steve Jensen, principal of Diamond J Farms, confirmed the direct lender’s speed and efficiency. “Our broker referred us to Kennedy Funding when we needed to refinance and free up working capital,” Jensen said. “Kevin and Mark were incredible to work with — they understood the urgency and got it done.”
Kevin Wolfer, president and CEO of Kennedy Funding, emphasized the firm’s mission to approve borrowers when traditional institutions decline applications, often due to raw land collateral or non-traditional circumstances. The firm streamlines the process by focusing on a clean title, a recent appraisal, and a clean environmental report to expedite closing.
The Diamond J Farms property is located just six miles northwest of Idaho Falls, a major employment hub, and its continued success is expected to support jobs and commerce in Idaho’s vital agricultural sector.
