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
Candidates: Unchecked property crime against businesses driven by prosecutor’s failure to hold offenders accountable
Melesa Johnson, Tracey Chappell share their solutions for combatting recent uptick in break-ins at Kansas City businesses Editor’s note: Jackson County Prosecutor Jean Peters Baker is not seeking re-election, so it’s an open race for her countywide seat. Democrat Melesa Johnson and Republican Tracey Chappell are running in the 2024 general election with a vote…
A simple sauce passed down six generations is headed to your table; Lenexa man says that’s his family’s great legacy
Jack Williams’ dream of seeing his great-grandmother’s picture in every grocery store across the country is one step closer to reality as the Lenexa entrepreneur’s jars of Grandma Morrelli’s pasta sauce — emblazoned with her photo — hit Kansas City shelves. “I’m trying to honor her and family traditions,” he said, describing how the venture…
Here’s how a new data dashboard could help KCMO redirect funds to small businesses
A new data dashboard built to better understand Kansas City’s business needs — and guide the city’s response — is not only revolutionary for the metro, said Nia Richardson, it could be the first of its kind, period. Small business advocates already are calling it a win. “I don’t know of any other city or playbook…
Modern world requires entrepreneurs to think like creatives, says KU’s Innovator in Residence
Editor’s note: The University of Kansas’ School of Business is a partner of Startland News. LAWRENCE, Kansas — Building a skill set around creativity is critical to entrepreneurship — especially at a time when careers can be short-lived, said Josh Wexler. “Jobs are no longer for life,” explained the Innovator in Residence at the University…