Kennedy Funding Closes $1.5 Million Alabama Land Loan in 18 Days

The loan, which carries a 9% first-year interest rate, covers half of the $3 million purchase price for the tract located along Highway 59. Andrew Williams, managing partner at KLEI Capital, noted that the borrower turned to Kennedy Funding after another lender failed to meet the necessary timeline. The site sits in a critical corridor for Baldwin County, providing direct access to Interstate 10 and positioning future residents near the expanding industrial hubs of Mobile and the Gulf Coast.

Regional economic growth, anchored by major projects such as the $4.1 billion Novelis aluminum facility and the massive Gulf Alabama industrial park, continues to pressure local housing supply. Kennedy Funding CEO Kevin Wolfer stated that the transaction underscores the firm's focus on providing certainty for qualified borrowers in high-growth markets where development-ready land remains scarce. With the financing secured, the project moves toward the construction of 420 units designed to accommodate the area’s influx of manufacturing and logistics workers.