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
Arrowhead of the future? Chiefs reveal $800M vision for sports complex (without Royals)
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. The renderings were released as Jackson County residents prepare to vote on a proposed sales tax extension that would help fund…
Troost entrepreneurs laying cornerstones of east side’s emerging restaurant row
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the KC Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. Chris Goode took a chance on his old neighborhood. He opened Ruby Jean’s Kitchen &…
Brothers behind new show at Zhou B Art Center KC paint space as gift to creatives, community
The Zhou B Art Center KC is going to be the next hub for great art, Bryce Holt shared, and he’s thrilled to be a part of it. The Overland Park-based artist’s “The Bible in Art” is on display at the new art center, located in the former Crispus Attucks School — which underwent a…
Planned serendipity: Endeavor Heartland’s launch aims to put founders in the right place at the right time
A global nonprofit that supports high-impact entrepreneurs is gearing up for its March 6 regional selection panel in Kansas City — the organization’s next big step in establishing a KC footprint, said Shawn Morris. “This will double as our launch into the Kansas City market and our commitment to our office expanding there,” said Morris,…