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
2000 Vine: Brewed under pressure, KC’s first Black-owned brewery puts more than reputations on the vine
Editor’s note: This story is part of a series from Startland News highlighting entrepreneurs, businesses, and creators leading revitalization and redevelopment efforts in and around the historic 18th and Vine Jazz District. Click here to read additional stories from this series. A brewery under construction at 2000 Vine on Kansas City’s East Side comes from…
KC-built healthtech app announces pre-seed funding from former JE Dunn CEO
Funds from a new pre-seed investment will help commercialize the MyDigiRecords app, its founder said, announcing critical new backing from one of Kansas City living entrepreneurial legends. The health records app — which will enable consumers to directly manage their health records, like immunizations and prescription drugs — announced Thursday the undisclosed, but “sizable” funding…
Newly merged Cyderes boasts 63-percent growth rate, beating timeline, expectations
Editor’s note: Cyderes is a financial supporter of Startland News’ nonprofit newsroom. Merging two cybersecurity powerhouses was a monumental task unto itself, said Robert Herjavec, but the newly formed Cyderes has exceeded expectations and more than overcome the challenges associated with blending the strengths of Herjavec Group and Fishtech Group. “Not only is our merger…
2000 Vine: ‘KC doesn’t understand how dope this guy is’ — Painter blessed with a space (and style) of his own
Editor’s note: This story is part of a series from Startland News highlighting entrepreneurs, businesses, and creators leading revitalization and redevelopment efforts in and around the historic 18th and Vine Jazz District. Click here to read additional stories from this series. In an opportunity that “came out of nowhere,” Kansas City artist Warren “Stylez” Harvey…