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
Regional Roundup: Chicago’s megamall turned innovation hub
In this week’s roundup of watercooler talk from the region’s startup hubs, we have the dish on Chicago’s booming startup density, Uber and Lyft’s Austin tantrum, and Denver’s No. 3 rank for digital economy readiness. Check out more in this series here. ChicagoInno: How the Merchandise Mart became the epicenter of Chicago tech How…
Futuristic transportation vision for Kansas City includes self-driving buses
Kansas City hopes a pioneering vision for public transportation will help it emerge as the top contender for a $50 million award. Kansas City is one of seven finalists for the “Beyond Traffic Smart City Challenge,” which will dish $50 million to a mid-sized city dealing with rapidly-changing transportation needs. With stiff competition from tech…
Events Preview: Startup Waffles, NKC Showcase
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 Startup Waffles When: May 27 @ 8:00 am – 10:00 am Where: Think Big Coworking Are you a founder, hacker or investor…
Kansas City’s east side to receive free wireless gigabit network
Kansas City is diligently continuing work to become the most connected city on earth. Three organizations are now working to create a free, large-scale wireless gigabit network on Kansas City’s east side. The project — led by Siklu Communications, the Urban Neighborhood Initiative and KC Digital Drive — will help eliminate cost barriers to help…