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
How the Chiefs inspired this Kansas City immigrant to embrace his new home (and start his own business)
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. Robert Galica, an immigrant from Mexico City and a Chiefs fanatic, started hosting tailgates at Arrowhead Stadium in a school bus…
Brimming with gratitude: Super Bowl caps viral popularity as KC-stitched hat brand returns home
When Taylor Webb watches the Chiefs-Eagles Super Bowl rematch Sunday from a crowded spot at Power & Light, he’ll be surrounded by friends and fellow Chiefs fans — and with any luck, a sea of caps bearing his trendsetting signature upside-down “Kansas City” design. Odds are good for the Kansas City native, who recently relocated…
TokenTourney reimagines fantasy sports play; adding charities, businesses to its roster
Kansas City-built TokenTourney puts users’ dreams as close as the end of a bracket; now its founders are rallying behind a new effort to team up with charities and businesses who want to engage younger consumers through the tournament-style app. “TokenTourney allows the average person to win once-in-a-lifetime experiences and luxury prizes that they otherwise…
Start small, build demand, then scale: Founders offer blueprint to creating streetwear brands that outlast today’s trend
With Kansas City’s often-crowded apparel scene mobbed by designers hoping to cash in on the Chiefs’ Super Bowl success, building a lasting brand is about much more than just having a good idea that meets the moment, said Vu Radley. “You have to know your ‘why’, who you are and why you’re doing it,” the…