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
PopBookings rallies as KC startup looks for its own key hires: ‘We’re back in a big, big way’
After dialing back its event staffing platform’s operations during the pandemic, Kansas City-grown PopBookings is back online in the Midwest — ramping up hiring as it works toward a Series A funding round by year’s end. “Kansas City has a real nurturing feel to it. And this community is why I believe we’ll have our…
$11M renovation in the works for historic hub of Black entrepreneurship; project ties into 18th Street pedestrian mall plans
Editor’s note: The following story was originally published by AltCap, an ally to underestimated entrepreneurs that offers financing to businesses and communities that traditional lenders do not serve. For more than one hundred years, the Lincoln Building has served as a cornerstone of commerce and community in the 18th and Vine district. The historic district —…
MTC’s spring $1.4M investment cycle loops Facility Ally, DevStride into equity deals
Two Kansas City startups are among a handful of Missouri companies receiving a collective $1.4 million in investment allocations through a state-sponsored venture capital program. Facility Ally, led by serial entrepreneur Luke Wade; and DevStride, co-founded by Phil Reynolds, Chastin Reynolds, Aaron Saloff and Kujtim Hoxha; must now complete the Missouri Technology Corporation’s due diligence process…
Kauffman CEO: Foundation’s reset aligns Mr. K’s intent with KC’s needs of the moment
A recently announced strategy refresh for the Ewing Marion Kauffman Foundation will drive the organization’s collective impact in the community — honoring the vision of its namesake while recognizing the challenges Kansas City faces today, said Dr. DeAngela Burns-Wallace. “Mr. K had very distinct philosophies and ideas around how he wanted this work done,” explained…