My client has a 15-unit multifamily property in Fort Lauderdale, Florida that is currently 95% occupied with good quality tenants. The property has been appraised at $4.5 million. He needs to borrow $2 million for improvements but he needs the money in two weeks. How much can I borrow and how fast can he secure the loan?

Under Kennedy Funding’s lending guidelines we would be able to lend up to 60% LTV of the appraised value of the property and would have the ability to close within two weeks,  as long as all of the closing checklist items have been provided by the borrower in a timely manner.