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
Mayor appoints city’s first Small Business Task Force as investment in KC entrepreneurs
Small businesses have the potential to thrive in Kansas City in ways unlike other metros across the country, said Christine Lau, highlighting how the city’s unique spirit will play a role in a newly created Small Business Task Force for KCMO. “We have a grit and tenacity that I haven’t seen anywhere else,” said Lau,…
Taylor Swift vs NFL Draft: Who scored the most touchdowns for KC in this epic economic showdown
Editor’s note: The following economic analysis was provided by the Economic Development Corporation of Kansas City, Missouri (EDCKC). The opinions expressed in this commentary are the author’s alone. Kansas City, Missouri, has recently been the epicenter of two gargantuan events: Taylor Swift’s Eras concerts and the NFL Draft. Both events have left significant economic imprints…
Industrial tech leaders fuel ‘fire of innovation’ with startup mentality, partnerships
Getting foundational industries — like construction, manufacturing, and energy — to innovate isn’t easy, shared corporate leaders from three regional heavy hitters. “Everybody loves change,” joked Dustin Burns, vice president of innovation at McCownGordon. “They’re just asking for more change to be dumped on them all the time.” “In my experience, a lot of clients…
In their threads era: KC retailers answer demand for Swift-Kelce clothing
Editor’s note: This story was originally published by Missouri Business Alert, a member of the KC Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and The Kansas City Beacon. Click here to read the original story. Sunday’s game between the Kansas City Chiefs and Chicago Bears brought together two powerful…