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
KC founders share their stories of building a great Midwest company
It’s not the flashiest locale, but the Midwest is a ripe area in which to grow a global business, a group Kansas City entrepreneurs argued Monday. During the Kauffman Fellows summit, four Kansas City business leaders made the case that you don’t have to be on the coasts to build a thriving company. The…
Kauffman Fellows to foster KC, Midwest investor expertise via $960K effort
In an effort to cultivate venture capitalists in the Midwest, the Ewing Marion Kauffman Foundation will award a dozen of scholarships valued at a total of $960,000 for its investor program, Kauffman Fellows. And Kansas City is set to be the biggest beneficiary. During the Kauffman Fellows’ annual summit, the foundation announced that will dish…
Kauffman Foundation issues a challenge to grow KC accelerators
The Ewing Marion Kauffman Foundation believes business accelerators have the opportunity to bridge a gap between capital and entrepreneurs. That’s why the foundation announced a new grant initiative Friday that hopes to spur more accelerator-like organizations in Kansas City. And applications are now open, and proposals are due by Jan 13. Starting Nov. 16 during…
Startland gets personal with Davyeon Ross, John Fein and Greg Kratofil
Startland News exists to share the stories of innovation that happen every day in Kansas City. But while we try our best to give you updates as they come, it is rare that all the details of the news we produce are included in the stories we publish. That’s why editor-in-chief Bobby Burch led Startland…