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
Small biz in Africa needs capital to grow; here’s how C2FO, World Bank member are bringing ‘much-needed liquidity’
A new strategic partnership between Kansas City-built C2FO and IFC, a member of the World Bank Group, is expected to enhance financing for local enterprises in Africa — bolstering job growth and economic prosperity in an underserved segment of the global market. “C2FO is honored and delighted to collaborate with IFC to broaden the global…
KC-brewed FairWave chases aromas east, adding Baltimore-area roaster to its coffee collective
Working with a larger, experienced leadership team and collaborating with new specialty coffee friends throughout the FairWave coffee collective will be a total game changer for Maryland-based Ceremony Coffee Roasters, said Ronnie Haas. Ceremony on Monday announced it had joined the family of brands under FairWave Specialty Coffee Collective, which is headquartered in Kansas City…
Don’t sleep on Kansas City: How this Killa collab draws out KC’s ‘Little Villains’ at just the right season
Drafted from creativity in the Crossroads, a hand-sketched character inspired by Kansas City’s rising national profile (and the familiar personalities behind it) is now finding fans on and off the field … well, lawn. “The Killa” — a football player repping No. 87 — has made the leap from team yard decorations to a starring…
Disney preservationists launch $4M campaign, add key collaborators to save iconic animator’s KC studio
The legacy of Walt Disney’s foundational time in Kansas City — and the structure the famed animator left behind on Troost Avenue — must be preserved frame by frame, said supporters of an ambitious redevelopment project at the former Laugh-O-gram Studios. A newly launched “Dreams Start Here” campaign aims to secure a future for the historic…