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
Their designs are so unique they’re one-of-one; ‘slow fashion’ duo turns thrift store finds into runway-worthy fits
A Kansas City couple’s upcycled fashion brand is making waves, as thousands of social media followers — and some high-profile names — have taken note of the company’s repurposed “one-of-one” clothing pieces. The passion project of co-founders Jared Armstrong and Caylin Willis, Yvonne and Mitchel takes clothing materials from thrift stores and reimagines them into…
New Kauffman CEO begins her ‘journey of impact’ with renewed focus on Kansas City
Editor’s note: The Ewing Marion Kauffman Foundation is a financial supporter of Startland News. Work within Kansas City to inspire education and entrepreneurship has a ripple effect across the region, said Dr. DeAngela Burns-Wallace; and the Ewing Marion Kauffman Foundation is doubling down on its commitment to the Kansas City community under her new leadership. …
This one-day competition builds more than apps, organizers say; Hack Midwest aims to reveal what humans are capable of creating
Kansas City’s largest app building competition is set to return in September — with more than 300 software engineers competing in teams for a piece of $22,500 in winnings. Hack Midwest, which began in 2012, brings together developers for a 24-hour “hackathon,” during which the teams race against the clock — and each other — to…
Island vibes getaway: ‘Lei Away’ festival to showcase tropical flavors in landlocked KC
Kansas Citians won’t have to leave the city to enjoy a tropical escape during Labor Day weekend. The freshly announced Lei Away festival is expected to bring the spirit of the islands to the plains. “We are highlighting all the wonderful things that are tropical-centric in Kansas City, which is ironic because it’s so landlocked,”…