Kennedy Funding, a financial services company, has gained media traction after a lawsuit was filed against the company. In this article, we have discussed the company and the Kennedy Funding Ripoff Report. We have also detailed the write-up with case studies about the company
The finance industry is one of the fastest-growing and most complex areas of the economy. One such company is Kennedy Funding which is largely responsible for the implementation of PPP, abbreviated as the Purchasing Power Ration. In this article, we have explained everything about the Kennedy Funding Ripoff Report, and its outcomes.
About Kennedy Funding
Established in 1986, Kennedy Funding tailors funding solutions including commercial bridges for acquisition, construction, development, foreclosures, and bankruptcies.
Internationally serving in the United States of America, Canada, Europe, Caribbean Countries, Central, and South America. Kennedy Funding’s news and resources assist them in closing loans from $1 million to $50 million.
According to its website, Kennedy Funding can provide a Fast Turnaround, 2 days for commitment, closing in as little as 5 days, loan amounts from $1 million to $50 million, and up to 75 per cent loan-to-value ratio.
What is the background of Kennedy Funding?
The finance venture, Kennedy Funding, operates in the financial sector and has been renowned in the industry for decades.
Known as one of the best private commercial real estate funding sources in the world, it is a fast and dependable source in real estate. Meanwhile, Kennedy Funding is largely used by real estate developers. Nevertheless, in recent years, the financial company has attracted several controversies and has gotten involved in several scandals.
What Was the Kennedy Funding Ripoff Report?
The Kennedy Funding ripoff report defines any report which is posted on the Ripoff report or any other customer complaint support. The key allegations against the Kennedy Funding Ripoff report are,
Unpaid Fees: Several customers complained that the company prevented them from paying fees
Unfair Financial Methods: It would accuse banks of predatory lending because they provide credit with more interest and hidden charges
Fraud and Financial Crimes: Accused of practising fraud in the company’s financial statements, and charging invoice
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The Reviews and Complaints By Kennedy Funding
Positive Reviews
Several clients and customers of the financial services appreciated them for closing deals and they had positive evaluations.
For instance: A New York-based real estate developer offered a case. The Kennedy funding approved the deal in a short amount of time, helping them in acquiring the location.
The loan was granted in a week, eventually leading the company to respond to the competitors’ offers and finish the work.
Negative Reviews
On the contrary, there were many negative complaints which have people complaining things like lowering their charges without communication.
Case Study: A Texas respondent received a loan from Kennedy Funding, and was not informed about the hidden charges. Although she contacted the business several times and spoke with the owner, she was lied to and charged extra for the service, as stated by the customer.
Other Common Complaints By Customer
The major complaints registered against Kennedy Funding were,
Unfair Lending Practices: Allegations stated that the Kennedy Funding was associated with regular practices of lending loans along with unreasonably additional charges to its customers
Lacks Transparency: While the funding organisation lends loans immediately, they were reported for maintaining zero transparency, eventually bringing them to fraud suspect
Customer Service Issues: Some reviews indicate that poor service issues have been experienced by a list of customers
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What are the alternatives to Kennedy Funding?
Since the funding venture has received several complaints, here are some of the alternatives to it;
Traditional Banks: While these alternatives have a lengthy process, they can be large and well-established.
Other Online Lenders: Other trustable FinTech companies can be used for money lending
Credit Unions: The FinTech company which offers membership and limited availability programs
Wrapping Up
In essence, Kennedy Funding is a financial company that incorporates opportunities as well as threats. However, the company is responsible for the successful execution of several businesses for a list of clients. Nevertheless, on the other hand, the company has been reported for several fraudulent activities and is involved in lawsuits.
For potential clients, the risks can be decreased through due diligence and understanding of terms and conditions. In addition to it, one should be cautious, and go for thorough research before utilisation of financial services.
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