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
Plaza retailers concerned for employee safety after recent shootings, upticks in thefts, harassment at iconic KC shopping district
No business owner should have to deal with ongoing incidents that threaten the safety of their employees and customers, Tyler Enders shared, but that’s the reality for some entrepreneurs on Kansas City’s Country Club Plaza. Employees at Made in KC’s marketplace location on the Plaza were closing up for the night Sept. 2 — the…
Ballerina-turned-entrepreneur’s second act moves older adults to embrace vitality through dance
Dot Burner spent her younger years dancing, taking modern dance classes in college and swaying the evenings away with her late husband. At 93, Burner still loves to dance. She takes part in bi-weekly ballet classes, hosted by Vitality In Motion. “It’s very relaxing,” said Bruner, a Shawnee Hills community member who has been taking Vitality…
KC entrepreneurs tapped to team up with top-tier Kansas enterprise businesses
A trio of emerging Kansas City startups are among 20 cohort members selected to forge new strategic connections with big-name Kansas enterprise partners like Koch, Evergy, Cargill and Spirit AeroSystems. Wichita-based NXTUS this week announced the latest program participants for the NXTSTAGE Enterprise Engagement Series — a diverse array of growth-minded entrepreneurs offering innovative tech…
Mpruv Sports adds pickleball, tennis to its on-demand edtech platform, strengthens C-suite roster
Just six months after teeing off, Mpruv Sports — and its first offering, Mpruv Golf — are seeing momentum on the course and the court, shared founder and CEO Mark Lukenbill. The peer-to-peer, on-demand sports education marketplace is expanding to include tennis and pickleball, pivoting to a progressive web app, adding corporate partnerships, and growing…