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
Can downtowners ditch the Dodge? Zipcar expands in Kansas City
Downtown Kansas City residents have another compelling reason to become car-less converts. The on-demand car rental service Zipcar is expanding its area presence to Kansas City’s downtown, providing its growing population another flexible transportation option. The international car-sharing service is beefing up local offerings — which already includes two cars at Kansas City International Airport…
Plexpod Westport Commons exhumes obscured mural of Kansas City
For an update on this piece, click here. Amid the dust and drilling at the yet-to-be-open Plexpod Westport Commons is a little-known artistic gem for Kansas City. At the heart of a project that marries history and innovation, the colossal coworking facility that was formerly Westport Junior High features a vibrant — albeit deteriorating —…
GUILDit feeds starving artists with tools to monetize their crafts
If good entrepreneurs are money-motivated, great ones know that it’s going to take more than that to be successful. In contrast, artists oftentimes develop a “love-hate relationship” with money. As anyone who has seen a “starving artists” moving van can attest, an artist’s passion doesn’t always lead to food on the table. For artists whose…
Kansas City streetcar app update arrives with roaring ridership
Has the popularity of the Kansas City Royals found its match with the Kansas City streetcar? No — probably not. But if you live in or around the City of Fountains, you probably know that its new downtown streetcar is quite popular. Since opening day, the streetcar has carried a total more than 645,000 passengers…