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-made card game Mixtape makes a ‘soundtrack for your life’
If your life was a movie, what song would you play in the background? A fast paced techno montage? A jazzy love story? Perhaps a dreary ballad? Regardless of the tune, music is intimately connected with the special moments in life, according to Joel Johnson, who’s set out to prove that with Mixtape, a board…
Events Preview: Most Likely to Succeed Screening
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’d recommend these upcoming events for you. WEEKLY EVENT PREVIEW The Marketing Series: Brand Resiliency When: August 31 @ 11:00 am – 12:30 pm Where: Sprint Accelerator Creating a brand isn’t easy,…
Entrepreneurs to disrupt KC’s divisions with unifying banner
The Kansas City metro area is one rife with borders. Geographically, it’s cut in half by a river that runs west and east. Economically, there’s a state border that runs north and south. Racially, Kansas City is divided by Troost Ave. Collegiately, the University of Missouri spars with the University of Kansas in a rivalry whose…
Kauffman Foundation: KC makes huge ‘startup activity’ improvement
If cities could win “most-improved” awards, Kansas City would be taking home a silver medal this year — at least as far as startup growth goes. The Ewing Marion Kauffman Foundation on Thursday released its “Startup Activity Index” for states and metros. This year, Kansas City climbed a whopping 11 places from 29 to 18,…