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
KC hosting global animal health investor forum
The premier animal health innovation conference is coming to Kansas City. The KC Animal Health Corridor — an area animal health development organization — expects about 40 venture capital funds to attend the 2015 KC Animal Health Investment Forum, set for Sept 1. Kimberly Young, president of the KC Animal Health Corridor, said that hundreds…
Who’s who of KC tech industry on Techweek 100 list
If you’ve ever worked in the Kansas City tech industry, chances are you know dozens of the faces appearing on the Techweek 100 list. Featuring such figures as Sprint CEO Marcelo Claure and Think Big Partners Managing Director Herb Sih, the list “identifies leaders who have made a significant impact on the technology and innovation…
Education innovation puts KC on the map
Kansas City and education don’t always receive positive press, but this week, the tides have changed. Kansas City is one of 27 “education innovation clusters” worldwide recognized by digital publication Education Week. Included for multi-district efforts to improve education, Kansas City was recognized by Education Week in particular for partnerships among the Ewing Marion Kauffman Foundation, Think…
Events Preview: Forward to the Future, Brews & Big Ideas
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 Disruption Institute Demo Day When: August 13 @ 6:00 pm – 8:00 pm Where: The Disruption Institute This Kansas City code school is…