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
Trio of tech startups hop in the Digital Sandbox
A trio of tech startups have entered the Kansas City-based incubator Digital Sandbox KC. Led by entrepreneur Jeff Shackelford, the incubator welcomed Flokk, Routine Success and Tapyness into its program. Digital Sandbox invests up to $25,000 in area businesses for specific projects that help the firms secure additional funding. The organization has now supported 73…
BetaBlox expands to Tulsa, shares 4-year plan
Thanks to a recent fundraise, Kansas City-style innovation is heading south to the Sooner State. After scoring new investment capital, Kansas City-based BetaBlox is expanding its incubator program to Tulsa this summer, bringing with it four years of experience in honing startups. BetaBlox founder Weston Bergmann said his for-equity incubator has partnered with the non-profit…
Weston Bergmann explains BetaBlox and its successful 2016 class
Since launching it in 2012, BetaBlox founder Weston Bergmann has always been impressed by the caliber of firms entering his incubator. But this year, Bergmann said he was blown away by the firms presenting at BetaBlox Demo Day celebration Monday. “It’s kind of cliche to say this class is better than the last, but it’s true,”…
Meet the BetaBlox startups ahead of Demo Day
Kansas City-based accelerator BetaBlox is gearing up for its annual culminating event to highlight startups in its current class. Set for Monday, BetaBlox’s Demo Day offers a stage for its 10 startup firms to pitch their businesses to investors, area residents and fellow entrepreneurs. While also a showcase of its startups, BetaBlox hopes the Demo Day will engage…