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
Tesseract deepens military ties with deal to develop smart space hub for US Air Force
Tesseract Ventures’ research and development partnership with the U.S. Air Force is reaching new altitudes with a just-announced contract to develop 21st century smart space technologies for MacDill Air Force Base in Tampa, Florida. “The Air Force has always been a center of innovation and a launch pad for world-changing new technologies,” said John Boucard,…
Fund Me, KC: She’s served a community need; now LaRonda LaNear needs help filling her kitchen
Startland News is continuing its “Fund Me, KC” series to highlight area entrepreneurs’ efforts to accelerate their businesses or lend a helping hand to others. This is an opportunity for business owners and innovators — like LaRonda LaNear’s effort to launch a brick and mortar space for We Got It Covered Food Services — to…
Oracle closing former Cerner HQ in post-acquisition scaleback across metro
Editor’s note: The following story was originally published by CityScene KC, an online news source focused on Greater Downtown Kansas City. Click here to read the original story or here to sign up for the weekly CityScene KC email review. Oracle is pulling the plug on the former world headquarters of Cerner in North Kansas City, relocating its employees…
New edition of a classic story: Made in KC founders lead ownership group buying Rainy Day Books; How they plan to expand its legacy with next chapter
When the owners of Kansas City-bound Rainy Day Books announced they were selling their popular bookstore in May, they looked for two qualities in its new owners: a commitment to uphold the customer experience and determination to grow the business, said Geoffrey Jennings. “It has been a six-month process to find people who could understand…