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
Quincy Lee’s imagination never stops working; thanks to a life-saving camera, neither does he
An introverted “creativepreneur,” Quincy Lee juggles video content creation, co-owning a digital marketing agency, designing his own apparel, and fatherhood — all while bringing bold ideas into focus. “I’ve always been an entrepreneur all my life,” Lee said, reflecting on the early days of his journey. “It started small, but it planted the seed for…
New Westport coffee shop hopes to crown a fresh local favorite in the spot that launched Ruby Jean’s
Move over, office coffee pot; Tamara Grubb’s workspace brews its own premium drinks Tamara Grubb was just looking for a nice office space when she walked into a Westport building — a long-ago gas station with a distinctive double-A frame roof that once launched the popular Ruby Jean’s Juicery brand. Her first thought: This space…
Blue collar Friday: Why a KC streetwear project in the works for a decade could sell out in one night
A just-dropped collaboration between two Crossroads makers stitch together neighborhood history and vintage streetwear, according to the creatives behind the SewKC and MADE MOBB brands. “We’re paying homage to the craftsmanship of the past but bringing it into this new age,” explained Jesse Phouanphet, co-owner of the popular Kansas City streetwear apparel company MADE MOBB. …
Raven Space Systems lands Forbes 30 Under 30 honor, re-entering spotlight after funding news
One of Kansas City’s most promising startups of the year has seen its fortunes rocket to the skies over the past three weeks, capped by a high-profile honor in the national media: a spot on the coveted Forbes 30 Under 30 list. “Building Raven Space Systems has been a very challenging journey and I am…