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
We have liftoff! LaunchCode to boost Kansas City tech talent
About 3,500 tech firms need to fill 2,300 open positions in the Kansas City area, according to KCnext. Usually, that means businesses, both large and small, spar over the same people, snatching up programming talent wherever possible, including from their local neighbors. It makes for more than just awkward networking events among tech executives —…
OneDayKC competition to inspire future Kansas City entrepreneurs
A Kansas City competition is sowing the seeds of entrepreneurship in local youth by challenging high schoolers to launch a business in only one day. Now in its second year, OneDayKC will welcome a herd of Kansas City high schoolers to join teams and create a viable venture in 12 hours. After crafting a venture,…
Video: John Fein offers an update on the Sprint Accelerator
John Fein, Techstars managing director, chats with Startland News editor Bobby Burch about the accelerator’s 2016 class. Now in its third year, the accelerator this year has a broader focus on all mobile technologies, as opposed to only mobile health in previous years. The accelerator in March welcomed ten new companies to its three-month, mentor-led program,…
Events Preview: Happy Hour tonight, LaunchCode Liftoff
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 Amazon Web Services Happy Hour When: March 24 @ 5:00 pm – 7:00 pm Where: Village Square Coworking Studio Thirsty? Come enjoy…