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
None More Lonesome: Creative’s expression takes new form as ‘street art meets pop art meets tattoo flash’
Growing up in Olathe, Brett Crawford doesn’t really remember many places for local artists to put their work on display, he said. But times have changed and the artist and musician, who moved back to the Kansas City area during the pandemic, will see his None More Lonesome collection of paintings on display at Mean…
Rapidly scaling PayIt raises another $90M amid ‘long-overdue transformation’ of govtech
Growth and continued innovation are on the docket as Kansas City-filed PayIt closes a $90 million funding round. Led by the global firm Macquarie Capital Principal Finance, the capital injection is expected to keep fueling PayIt’s commitment to simplify the way people interact with the public sector in everyday places like the DMV and court…
Outside look from the inside: What a visiting economic fellow found in KC (rival BBQ is just a taste)
After spending his summer in Kansas City, the metro reminds Alvin Gusman a lot of his hometown, Austin, he said. The Texas A&M student is in the last two weeks of his 10-week Equity in Economic Development Fellowship with the Economic Development Corporation of Kansas City (EDCKC), reflecting on the experience. “I’ve actually really enjoyed…
55-shoe collection to online sneaker platform: How Nazr El-Scari opened a market to affordable, rare kicks
Sneakers are a distinct statement of individuality, Nazr El-Scari said, lacing up his venture’s sole purpose: to put dream shoes within reach “Growing up, I remember the excitement of opening a new pair of shoes. My older brother and his friends always had the dopest sneakers that you couldn’t find anywhere in Kansas City; it…