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
Report: NFL Draft festivities scored $164.3M in economic impact for Kansas City
Despite the stress of feeding thousands of people, a propane tank running out, and a fryer overheating — plus paying the vendor fee — KC’s Wing Bar owner Keshia Clark said teaming up with the NFL Draft in April was definitely worth it for her business. “We saw in three days what one middle class…
‘Follow the smoke and look for the Ferris wheel’: Chef J BBQ set to join Pennway Point (and Arrowhead)
Walking through the West Bottoms, the smell of smoke and spice will lead a hungry wanderer to one of Kansas City’s emerging barbecue hot spots: Chef J BBQ. Restauranter and pitmaster Justin Easterwood, better known as “Chef J,” has made a name for himself — now that hard work has earned Chef J BBQ a…
Overland Park Farmers Market vendor suspended over anti-semitic social media posts
Editor’s note: The following story was first published the Shawnee Mission Post. Click here to read the original story or here to subscribe to the independent Johnson County news source. Content warning: This story includes hate speech and disturbing language. The Overland Park Farmers’ Market has suspended a first-year vendor after his anti-semitic and hate-filled social media posts…
Flint Group’s new strategic partner invests in taking the home services platform national
SEATTLE — A newly announced strategic investment from the global firm General Atlantic is expected to help a home services platform with Kansas City leadership enhance its business offerings and accelerate its growth, ultimately toward scaling the company nationally. Founded in 2019 by industry veterans Collin Hathaway and Trevor Flannigan, Flint Group has quickly expanded…