Kevin Wolfer, CEO and president of Kennedy Funding
By Joshua Burd
Kennedy Funding has expanded to Ecuador with a newly closed, $4.15 million land loan to a family-owned flower distributor just south of the country’s capital.
The borrower, Encanto Lender LLC, will use the proceeds as working capital by Ecuagarden Farms in connection with property in Pichincha Province, according to a news release. Englewood-based Kennedy Funding noted that the company, which has 250 employees and has been in operation for nearly 40 years, plans to expand its operations on two separate sites in the region that total 290 acres.
That will support a business that is among the largest exporters of flowers to the United States and maintains operations in Ecuador and Florida.
“Kennedy is one of the few private lenders who does business with foreign nationals and one of the only ones who lend in foreign countries,” said Luciano Cuneo of LMC Alternative Business Capital in Miami, the broker on the deal, adding that the firms have closed several deals together since 2020. “We have an excellent relationship with Kennedy Funding, and we know that they can do what other lenders say is impossible to achieve.”
Mark Falzone, executive loan officer at Kennedy Funding, added: “Nearly every financial institution has a policy to not consider land deals anywhere in the world, both in America and internationally. It’s simple: very few lenders will even look at raw land, especially outside the U.S. — but that’s where Kennedy Funding excels.”
Ecuagarden’s two properties in Ecuador are known as Hacienda Santa Isabel and Hacienda San Juan, the news release said. The former is a 150-acre zoned agricultural site south of the Pan- American Highway that borders the Ecuadorian capital, Quito, while the latter is a 140-acre site at the center of Alausi, a small rural community around 20 miles from Hacienda Santa Isabel.
The company also operates a high-end retail storefront, Tanella’s Flowers, in Miami’s acclaimed Aventura Mall.
“Ecuagarden will put the $4.15 million loan to good use as they continue to scale and meet the global demand for fresh flowers,” said Kevin Wolfer, CEO and president of Kennedy Funding. “We are glad to be a small part of the company’s story.”
Wolfer noted that the firm has closed land loans abroad in many countries and on three continents.
“Closing this $4.15 million deal for Ecuagarden once again disputes the notion that businesses in other countries can’t access U.S. capital,” Wolfer said. “A lender like us knows how to conduct the proper due diligence and navigate local regulations to get to the finish line — even when others can’t. That’s the Kennedy advantage. We proudly continue to help businesses connect with the funding they need to grow, no matter where they are located.”
