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
Events Preview: Second Fridays, Gigabit City Summit
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 Second Fridays @ Village Square When: May 13 @ 4:30 pm – 7:30 pm Where: Village Square Coworking Studio Second Fridays is…
Kansas angel tax credits signed into law
Months of hard work by Kansas City entrepreneurs has paid off. Kansas Gov. Sam Brownback on Wednesday signed an extension of the Angel Investor Tax Credits into law, preserving what supporters say is the state’s only financial incitive specifically for startups. The law goes into effect on July 1, 2016. Kansas Senate Bill 149 will…
Shaken and stirred up, entrepreneurs battle Crossroads developer over liquor law
Supporters of a new Kansas City liquor law hope it will put a stop to what they say are anti-competitive practices by a prominent Crossroads Arts District developer. The recently-passed measure — Ordinance No. 160281 — amends portions of city code to increase the number of property owners who can offer consent for liquor licenses…
Kansas City near last place among startup hubs for digital economy readiness
Kansas City’s poor performance in attracting talent and its limited access to investment capital puts it at a disadvantage for the forthcoming digital economy, a recent study found. The national “Innovation That Matters” study analyzed 25 large startup hubs’ readiness for the digital economy, noting that Kansas City has room for significant improvement with its…