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
Mobility Designed tackles a demand unaddressed since the Civil War
Editor’s note: This content is sponsored by LaunchKC but independently produced by Startland News. Some technologies are slow to innovate. And crutches — which haven’t changed much since the U.S. Civil War — are a prime example. “They’ve pretty much been the same for decades,” said Liliana Younger, CEO of Mobility Designed. “Although there…
Two area startups still vying for $25K from the Kauffman Foundation
The Ewing Marion Kauffman Foundation on Monday announced the top 15 finalists in the 1 in a Million pitch competition that are vying for a $25,000 grant — and two startups hail from the metro area. Kansas City-based The Grooming Project and Lawrence-based DraftPak both cracked the top 15 in the contest after beating out…
Fund me, KC: Hidden Abilities offers high-tech pen to topple dyslexia
Startland News is continuing its segment to highlight area entrepreneurs’ efforts to accelerate their businesses. This is an opportunity for entrepreneurs — like Hidden Abilities co-founders Payden and Jamee Miller — to share their stories to gain a little help from their supporters. Back Hidden Abilities’ product here. Who are you? Jamee Miller and Miller, co-founders of Hidden…
The Lean Lab fellows PledgeCents, Class Tracks win $25K
The Lean Lab’s education incubator program culminated Thursday evening with Launch[ED] Day, a demo day which saw two education startups walk away with $25,000 grants. Established in 2013, The Lean Lab seeks to build Kansas City into a world-leader in education innovation. The incubator’s five summer fellows each pitched their business at the demo day.…