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
Competition opening its call for startups to pitch at UMKC (founders who’ve finished growing need not apply)
UMKC’s support for entrepreneurship doesn’t stop at the edge of campus, said Adam Larson, detailing plans for another startup competition between established Kansas City companies during this spring’s Regnier Venture Creation Challenge. Non-student-led companies with headquarters in Kansas City are eligible to compete in the James and Rae Block Kansas City Startup Awards. Applications open…
Superstars’ palette of impact dips into diverse industries: Here’s how a KC muralist creates his own economic progress
Each individual brush stroke plays a role in painting the broader picture of economic development in Kansas City, said Daniel Montoute, reflecting on how a single entrepreneur can impact the region within the collective blend of communities. “As a small business rooted in the heart of Kansas City, we are proud to contribute to the…
Down for donuts: How this team is sweetening Chiefs’ Super Bowl sugar rush with Mr. D’s(fense)
Another return trip to the Super Bowl has Kansas City small businesses joining the Chiefs as behind-the-scenes special teams fueling the Kingdom. For entrepreneur Johnny Chen, the mere taste of victory just a few years ago has multiplied into a box-full of opportunities. “The Chiefs’ success has impacted our sales tremendously,” said Chen, co-owner of…
Spokes Café banks on new downtown coffee spot, cycling operations under same roof as neighboring customers
A new home inside the Commerce Bank Building in downtown Kansas City moves Dan Walsh’s popular coffee shop across the street — and saves him the struggle of finding a different location amid Spokes Café’s pending displacement as a longtime fixture at 10th and Walnut streets. Walsh recently announced the relocation — the artisanal breakfast and…