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
Photos: Founders score electric vibes, human connections with Startup Crawl’s return
Even tech startups benefit from one-on-one conversations with peers and the public, founders said, reflecting on the connections, collisions and real-time feedback earlier this month during Startland News’ Startup Crawl in downtown Kansas City’s Power & Light District. “It was an incredible experience that allowed for free-flow conversations and engaging activities between myself and the…
How Kelly Clarkson’s well-timed Father’s Day gift boosted a KC entrepreneur’s nonprofit
Life’s recent whirlwind initially shocked James Hogue — the newly-minted “rad dad” who earned a shoutout (and a couple thousand dollars) on the Father’s Day edition of Kelly Clarkson’s hit daytime talk show. “My first thought was, ‘Is this really happening?’” the Kansas City dad and certified doula said. The founder of Fathers Assisting Mothers…
Venture Noire is ready to activate KC with focus on improving outcomes for Black entrepreneurs
Venture Noire comes to Kansas City late this month with a two-day event to help early-stage entrepreneurs plan their next moves and reintroduce the Northwest Arkansas-based nonprofit to local business owners. Planned for June 26-27 at Keystone CoLAB, the “KC’s Playbook for Entrepreneurial Excellence” event is expected to feature a boot camp with workshops on…
Wild Way closing: Coffee camper drips bittersweet blend of emotions as owner’s cup runs dry
Nearly six years after she began serving lattes in her popular Wild Way coffee camper, Christine Clutton is saying goodbye to the business at the end of the month, she confirmed. Wild Way Coffee — featured on the Peacock series “The Simple Art of Swedish Death Cleaning” and approved by KC-raised actor Jason Sudeikis —…