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
KC innovator’s anti-itch spray so natural it was discovered on a front porch lab
Homindy founder Ronan Molloy discovered the benefits of his company’s itch relief spray somewhat by accident. During the summer of 2020, Molloy volunteered to participate in a clinical study for a tea with all-natural ingredients that was supposed to reduce inflammation in his right knee. At that time, he was president of the Innovation Stockyard,…
KC capital implants cattle tech startup with fuel to scale, expanding IVF labs, headcount
Livestock production has seen a remarkable transformation since Kerryann Kocher was growing up on her family’s sixth-generation farm in northeast Iowa, the Vytelle CEO said. Instead of just selecting the cow that looks best and bringing in the neighbor’s bull for breeding, as she remembers it, Kocher and Vytelle — a Kansas City-based precision livestock…
Venture experts: Getting your first check in KC is too difficult, but a record influx of coastal investors isn’t a bad substitute
A new report on Kansas City’s venture-backed companies showed year-over-year growth in multiple areas — impressing industry experts who identified key investment trends in the data. More companies with venture capital backing; higher employee counts; a 58 percent boost in fundraising. Yet growth was not universal. Despite gains in top-line figures, the number of Kansas City-based…
RX Savings Solutions sale would see the startup acquired for up to $875M in KC’s biggest-ever exit
The McKesson Corporation has agreed to purchase Overland Park-prescribed Rx Savings Solutions in a deal worth nearly $1 billion. McKesson announced Monday that it had entered into an agreement with the prescription pricing startup valued at up to $875 million — more than double the $425 million price tag for which Kansas City-built Backlot Cars…