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
New owner plans Vietnamese redux with modernized experience at Northland bánh mi spot
Quick service. Customization. Simple menu. Meals made-to-order in front of the customer. Chipotle was built on this service model. Now Peter Nguyen wants to bring it to his new Vietnamese restaurant, and even use that system to start a franchise of his own. In August, Nguyen purchased the former Bun Mee Phan restaurant at 4011…
Office with a pew: Coworking veterans hail ‘untapped potential’ of unused space within churches
A coworking space and a church — united around the idea of building community — formed a unique partnership earlier this year in Kansas City’s northland, said Bob Martin. The CO-OP at Shoal Creek — which Martin and Heather Heckroot opened in January — has taken up residence at Shoal Creek Community Church in Pleasant…
Digital Inclusion Fund awards $75K for devices to KC nonprofits working to get residents online
A relaunched Kansas City-area fund is expected to help residents struggling because of a lack of simple tech resources: devices that might often be taken for granted among their neighbors for whom the internet — and the opportunities that come with it — is already easily accessible. Eleven nonprofits in the region recently were awarded a…
Biden-Harris official tours KC BioHub; region prepares to reapply for federal Tech Hubs funding
A visit from a top federal economic development leader early this month offered regional leaders an opportunity to showcase and build upon Kansas City’s strategy to increase domestic production of life-saving vaccines within the footprint of the newly established KC BioHub. Maryam Janani-Flores, chief of staff for the U.S. Department of Commerce’s Economic Development Administration…