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
Start from the top: How these newsmakers forged companies to watch (Event Photos)
Maybe it was an open opportunity in a market that couldn’t be ignored. Perhaps a calling to do something bigger than themselves. Or, for some, just a transparent bid to find profit in a world of problems waiting to be solved. Each of Startland News’ 10 Kansas City Startups to Watch launched with a motivation…
WeCode KC, CAPA selected for free services from this Top 10 KC small business winner
A company lauded among Kansas City’s top small businesses for three consecutive years this week announced the nonprofit recipients of $100,000 in pro-bono marketing services through a first-time expansion of its annual Crux for a Cause initiative. WeCode KC and Child Abuse Prevention Association (CAPA) will each receive marketing investments of $50,000 for 2024, said…
KC startup on a mission to show women’s health is more than a niche; a nationwide advocate could help
A women-led Kansas City health startup is among 10 companies chosen for a new innovation cohort from Springboard Enterprises, which made a name for itself locally in recent years through its popular Dolphin Tank pitch showcases. Marma was selected for the Springboard program — a comprehensive entrepreneurial bootcamp and an expansive workshop series — because the…
Startup launches workforce readiness game, scaling its Kansas-built talent crisis solution national
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. WICHITA — A newly opened, nationwide digital game tournament aims to help students adopt the life skills needed to start careers wherever they live, said Robert Feeney, describing how his…