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
Sustainable apartments in KC’s River Market will be among the world’s largest ‘passive houses’
The future of sustainable real estate development may be taking shape in Kansas City. The $60 million, 276-unit Second and Delaware project aims to not only be one of most environmentally conscious residential buildings but also a global example in sustainable housing, said Jonathan Arnold, CEO of Arnold Development Group. The Arnold Development Group along…
Idle Smart founder Jeff Lynch shares three lessons from an accelerator
I’ve been aware of accelerators for some time, but honestly never really thought of them for Idle Smart. We were so heads down trying to grow our own company that I didn’t really have time to learn about the advantages of a quality accelerator. Earlier this summer, however, we were connected to Village Capital through…
Victor Hwang, city leaders challenge the area’s entrepreneurial ecosystem
In partnership with Think Big Partners, the Innovation Exchange offers Kansas Citians context and behind-the-scenes details on newsmakers in the area entrepreneurial ecosystem. This month, area leaders — including the Ewing Marion Kauffman Foundation’s vice president of entrepreneurship Victor Hwang — discussed what’s on the horizon for Kansas City’s entrepreneurial ecosystem. If you missed the…
Seven local tech startups bring their innovations to KCMO
After 12 weeks of civic innovation, Kansas City’s Innovation Partnership Program culminated Tuesday with a demo day showcasing its seven participating startups. Launched in 2015, IPP pairs area startups with a department in the City of Kansas City, Mo. to not only identify new efficiencies but also offer the firm a chance to earn business…