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
Kauffman Foundation announces winner of 1 in a Million contest
Kansas City’s reign atop the national 1 in a Million contest has ended. The Ewing Marion Kauffman Foundation announced Wednesday that Anchoraged-based Pandere Shoes won the contest, beating out one local finalist and winning $25,000 in the process. The Grooming Project was the sole Kansas City firm left in the competition, which challenges 1 Million…
Lawrence drone tech firm navigates obstacle course to win national contest
A Lawrence-based firm that designs sensors and flight controllers to help drones fly more safely recently snagged an international award for its tech. Founded in 2015, Aerotenna won first prize at the Unmanned Traffic Management Preliminary Drone Sense & Avoid technology competition, earning it $12,000 and valuable exposure to industry experts. Aerotenna CEO Dr. Zongbo…
Events Preview: GEW Innovation Exchange
There are a boatload of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious Kansas Citian, we recommend these upcoming events for you. Join us in celebrating the remainder of Global Entrepreneurship Week and check out these events. WEEKLY EVENT PREVIEW The Capital Series: So You…
Super Dispatch founder Bek Abdullayev delivers trends in trucking
Editor’s note: This content is sponsored by LaunchKC but independently produced by Startland News. Technological advancements are bringing significant change to nearly all industries — and trucking is no different. Autonomous vehicles, machine learning and the Internet of Things are just a few of the trends on which Super Dispatch founder Bek Abdullayev has his…