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 home on Ward Parkway: $4M minority chamber project brings Black, Brown entrepreneurs under one banner
A history-making project on Ward Parkway — said to be the first minority-owned property on the storied Kansas City thoroughfare — already is demonstrating the power of unity amid divisive times, said Kim Randolph. Unveiled to the public Saturday, the new Minority Chamber of Commerce Development Center at 9100 Ward Parkway is now home to both…
Founder earns Pipeline’s ‘best pitch,’ says network’s lifelong support is the real award
Pipeline judges announced Megan O’Rear had the best pitch Thursday, but the Celerity Enterprises founder was left momentarily speechless when they named her winner of the group’s annual showcase and competition. “It just validates coming back to Kansas City,” said O’Rear, who also serves as the startup’s CEO. “Pipeline wants to help everybody that they…
KC Chamber’s Superstars celebration empowers everyday small business heroes
Editor’s note: The Greater Kansas City Chamber of Commerce is a non-financial partner of Startland News, which serves as the media partner for the Small Business Superstars program. The Blueprint KC has come a long way, said Sheraz Pompey, emphasizing the meaningful impact of being showcased as one of the KC Chamber’s Small Business Superstars.…
Davids’ effort to level the playing field for Native entrepreneurs passes US House, moving to Senate
Legislation meant to address entrepreneurship challenges specific to Native and tribal business owners advanced in the U.S. Congress this week, with a Kansas City lawmaker championing the effort to bring equity to an overlooked corner of the small business community. “In Indian Country, Native-owned businesses employ over 300,000 Americans and are vital drivers of our…