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
Entrepreneur behind Soul of Santa aims to create Rockefeller Plaza holiday experience on KC’s east side
Tucker Lott hopes an outdoor ice skating rink at 2000 Vine — the home of Vine Street Brewing — will help solidify a new holiday tradition in the 18th and Vine entertainment district, the veteran entrepreneur said. “We wanted to create a holiday atmosphere where families could gather and have fun,” said Lott. “The entire…
Proptech startup Particle Space acquired by LA real estate marketing software firm
The acquisition of a Kansas City proptech startup by one of its first — and biggest — customers offers founder David Biga the opportunity to pivot back to his entrepreneurial roadmap, he said, reflecting on next steps once Particle Space’s technology is fully integrated into its new home. “Build, give back, build, give back,” Biga…
Speak easy and SprinkleSumSalt: Podcaster passes the mic to KC’s underground arts scene
Untold stories of creative talent and entrepreneurial spirit are raging beneath the surface of Kansas City’s mainstream, said Bump Jonas, who finds vibrant inspiration in musicians, chefs, and small business owners angling to reach a broader audience. “I wanted to bring something unique to Kansas City, a space where artists and entrepreneurs can connect and…
Social studies to social venture: Missouri teen’s micro business helps students across the globe
Editor’s note: The following story was produced through a paid partnership with MOSourceLink, which boasts a mission to help entrepreneurs and small businesses across the state of Missouri grow and succeed by providing free, easy access to the help they need — when they need it. ST. LOUIS — It wasn’t an entrepreneurship course that…