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
Bill to help ease veterans’ transition from military to business passes US House with KC leaders in the trenches
A legislative effort to boost support for U.S. military veterans pursuing a new chapter as entrepreneurs now heads to the U.S. Senate — buoyed by broad partisan support and championed by two members of Kansas City’s congressional delegation. The Successful Entrepreneurship for Reservists and Veterans SERV Act successfully passed in the U.S. House of Representatives this…
Porter House KC earns $400K in renewed support for inclusive entrepreneurship, retail incubator
Support from the JPMorgan Chase Foundation is expected to help The Porter House KC make good on its founders’ promise to help emerging entrepreneurs in their community get their promising ventures off the ground, said Dan Smith. “Like many of the small business owners that we encounter, we started our organization based on a need…
Black Pantry expands to Troost, setting a cornerstone for new Black business hub
A second location for the Black Pantry is about more than adding a “cool little gift shop” to Troost, said Brian Roberts, detailing his plan for a broader mission: a whole block of Black-owned businesses and a hub for Black entrepreneurs and creatives. It begins with Roberts’ in-the-works standalone space at 3108 Troost Ave., he…
‘Why would you put that on a cake?’ The C Word Cakery frosts the boundaries of good taste
The C Word Cakery is a reflection of the baker behind the business, Savannah Brady shared. “It doesn’t take itself too seriously,” she explained. Brady — a southwest Missouri native who moved to Kansas City during the pandemic — specializes in, as she puts it, “good cake, bad words” — vintage-looking, classic, floral cakes that…