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
Global content marketers dub DivvyHQ as their No. 1 platform
Editor’s note: In response to readers’ desire for quick-hitting stories, Startland News is launching a new segment, “News Flash,” to enable more coverage. Let us know what you think! DivvyHQ is riding a wave of excitement after its peers in the world of content marketing recently voted the company as the best solution in its…
mySidewalk partners with the White House on its open data initiative
Editor’s note: In response to readers’ desire for quick-hitting stories, Startland News is launching a new segment, “News Flash,” to enable more coverage. Let us know what you think! Kansas City tech firm mySidewalk is working with the White House. The firm on Friday announced its participation in The Opportunity Project, an initiative that…
Is your logo too safe? KU researcher explores the psychology behind your branding
Your logo may not be communicating what you want, which could hurt your business, according to new research. In her recent research on logo design, University of Kansas marketing scholar Noelle Nelson found that the disconnection between what founders hope to convey with a logo and how a person perceives it may discourage a…
Batch of startup funding news kicks off Kansas City’s autumn
In response to readers’ desire for quick-hitting stories, Startland News is launching a new segment, “News Flash,” to enable more coverage. Let us know what you think! Fall in Kansas City is off to a solid start for area startups. Several firms in the metro area have recently raised capital that they hope will accelerate…