How LendingStandard’s new marketplace tapped into a record-setting real estate trend
February 16, 2021 | Startland News Staff
A KCK startup opened a funding pipeline with its latest offering that exceeded $860 million in its first seven months of operation.
MultifamilyDebt.com — a multifamily lending marketplace fueled by Kansas City, Kansas-based LendingStandard — announced the achievement Monday, signaling rapid growth in the midst of a record-setting era for real estate.
“Providing quality loans and fast documentation with personal service is rare for properties under $5 million and investors are looking for better solutions,” Andy Kallenbach, CEO of both MultifamilyDebt and LendingStandard, explained in a release.
Craig Hughey, LendingStandard
“Our goal is to cut through the inefficiency and frustration that multifamily borrowers have experienced for far too long,” added Craig Hughey, vice president of product management.
The fast-growing company has so-far focused its efforts on small balance loans, Kallenbach said, noting the company offers loan options across the buyer spectrum and simplifies the loan application process.
“It has been surprising to see the variety of projects from $40 million new construction to $100 million bridge loans,” he said. “I believe it is a testament to our focus in connecting multifamily with the right lender and not blasting a deal out to see what sticks.”
The MultifamilyDebt platform uses an online profile to match borrowers with lending options pulled from a sourced network of trusted lenders.
“Its proprietary, automated underwriting engine screens, sizes, and closes deals quickly with little human interaction,” the company said in description of its platform, which is backed by funding from Overland Park-based Flyover Capital.
“Multifamilydebt.com completes the lending cycle, streamlining deals from start to close. Applicants are able to input data points on their property or portfolio and receive custom offers from lending partners.”
Click here to learn more about MultifamilyDebt.com or here for more on LendingStandard.
Featured Business
2021 Startups to Watch
stats here
Related Posts on Startland News
Virtual reality field trips offer black history experiences for KC students
With backgrounds in tech, education and business, five women have joined forces to create technology-based educational experience to impart lessons on black culture. Last month, the V Form Alliance received a $19,000 grant from Mozilla Gigabit Community Fund to fund the group’s inaugural project: Virtual Realities in Culture: Explorations of the African Diaspora Project. With…
KCMO creates live-viewing platform of smart city data
Officially launched about nine months ago, the Kansas City Smart City initiative has produced as much enthusiasm as it has technological possibilities. The $15.7 million public-private project — which has transformed Kansas City’s downtown into a lab of Wi-Fi connectivity on and around the 2.2-mile streetcar line — is now further empowering citizens. The City…
Events Preview: Life Equals graduation, Coding & Cupcakes
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Weekly Events Preview The Marketing Series: SEO Made Easy with Brandon Kenig When: Feb. 8, 11:00 a.m. – 12:30 p.m. Where: Sprint Accelerator…
Animal tech startup FitBark fetches huge Australian pet insurer
Animal tech firm FitBark is headed Down Under thanks to its landing of a big Australian partner. The Kansas City-based company announced that it’s partnered with PetSure, Australia’s largest pet insurance underwriter to help launch its wearable dog activity tracker to the Aussie market. PetSure opens FitBark up to 360,000 policyholders, a network of 22…