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
Fast-growing KC startup closes $20M in Series B funding to accelerate genetic progress in cattle
A well-muscled funding round is expected to help Lenexa-based Vytelle expand its global operations after having already scaled the agtech startup’s breakthrough in vitro fertilization, data capture, and AI-driven genetics tech to be easily accessed by more than half of the U.S. cow herd. “This is indicative of strong market interest in our products and…
Blerdy for 30: KC comic creator’s documentary takes Black nerd culture from niche to your screen
A recently launched Kansas City entertainment company hopes to become the digital epicenter of “Blerd” — shorthand for Black nerd — content, said Brandon Calloway. Now the founder of Blerd TV, Calloway debuted the Blerd YouTube channel in January, where more than 3,000 subscribers already have access to free content, he said. However, that represents…
16 small businesses in 60 seconds: Did you spot your favorite entrepreneur in the Royals’ new campaign?
It’s a new season, but longtime connections fly deep into the outfield for the Kansas City Royals and a fandom that’s supported them for decades. Among those most impacted: entrepreneurs whose stories run along the same baseline as the championship-winning baseball club. “It might sound crazy, but I honestly credit a lot of our growth…
Now renting nostalgia: Hands-on classic car startup drives ‘look but don’t touch’ into the past
Ryan Wager isn’t just renting out classic cars with his new startup, he shared, he’s loaning out memories. North Kansas City-based RND — launched earlier this year — allows community members and visitors to take classic, RND-restored cars — like his own 1958 Chevy Corvette — for a spin with daily rentals. Want to take…