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
‘Homegrown unicorn’ helped this startup hub beat the bracket (and its top seed Kansas competition)
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. This series is possible thanks to the Ewing Marion Kauffman Foundation, which leads a collaborative, nationwide effort to identify and remove large and small barriers to new business creation. A…
Ulta, Venture Noire apply foundation with new beauty startup accelerator to ‘uplift minority founders’
Ulta Beauty’s premier MUSE Accelerator is nothing short of life changing, said Emma Willis. The national beauty retailer has partnered with Venture Noire to launch a 10-week, hybrid accelerator that supports Black, Indeginous and underrepresented founders of color as they prepare to break into and thrive in the beauty retail space, explained Willis, who serves…
Fund Me, KC: ‘Black Spartans’ returns with supernatural new chapter, summer crowdfunding push
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 Brandon Calloway’s third installment of the “Black Spartans” series — to share their crowdfunding stories and potentially gain backing…
Truth, not Troost: Ruby Jean’s founder wants East Side corridor renamed over slavery ties
Despite its widely-known street name, “Troost Avenue” does not accurately represent the small businesses, nonprofits and families along the increasingly dense Kansas City corridor, said Chris Goode. “So many beautiful efforts take place on Troost — from The Combine to Operation Breakthrough or Urban Cafe and Rockhurst University… We are all collectively pushing for community,…