Garden State private lending is making waves far beyond U.S. borders. Kennedy Funding, a premier direct private land-loan lender headquartered in Englewood, New Jersey, announced today that it has successfully closed a $1.26 million cash-out refinance loan to finance a major residential development project in Cartagena, Colombia.
The transaction provides essential working capital to borrower Cocoa & Company SAS for a planned residential subdivision spanning approximately 50 acres (200,000 square meters) along the high-growth Cartagena-Barranquilla corridor.
While many traditional U.S. lenders shy away from international markets due to regulatory and legal complexities, Kennedy Funding has built a decades-long reputation on navigating cross-border deals. The Cartagena property—situated near National Route 90A-01 and upcoming coastal attractions like Crystal Lagoon—is currently in its feasibility stage with subdivision approvals underway.
Sourced through local commercial mortgage brokers in Colombia, the deal highlights the Englewood firm’s ability to execute fast, flexible financing where conventional institutions lack the framework or appetite to lend.
“International lending isn’t just about financing a property—it’s about understanding the market behind it,” Edwin Urrego, executive loan officer at Kennedy Funding, said. “Every country has its own legal, regulatory, and cultural landscape. Our experience allows us to navigate those differences and provide financing solutions for borrowers pursuing opportunities that many lenders simply aren’t equipped to handle.”
Cartagena stands as one of South America’s premier commercial and tourism hubs on the Caribbean coast, making it a hotspot for residential investment as infrastructure expands.
For Kennedy Funding, the milestone adds to a massive global portfolio that spans the United States, Canada, Europe, the Caribbean, and Central and South America. To date, the firm has closed more than $4 billion in loans, offering specialized bridge financing for land acquisitions, developments, workouts, and bankruptcies.
“International lending has been part of Kennedy Funding’s DNA for decades,” Kevin Wolfer, CEO of Kennedy Funding, said. “Our experience, creativity, and willingness to think beyond traditional lending boundaries allow us to help borrowers move projects forward where others may not.”
