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
Thirsty fans line up as Weston distillery resurrects pre-Civil War Missouri bourbon
Editor’s note: The following story was originally published by Flatland, the digital magazine of Kansas City PBS and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for the weekly Flatland email newsletter. This is a historic moment for the folks at Holladay Distillery in Weston, Missouri, and also a big deal…
Survival rates for new biz in MO, KS lag national average; What’s getting in their way?
Editor’s note: The following story was originally published by Flatland, the digital magazine of Kansas City PBS and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for the weekly Flatland email newsletter. Colorful balloons, ribbons, unlimited drinks, food and of course music. There was everything at the ribbon cutting…
NMotion adds ‘concierge’ investment accelerator for early-stage founders; applications close May 30
Editor’s note: This article is sponsored by the NMotion startup accelerator, but was independently produced by Startland News. Following NMotion Venture Studio’s successful launch in 2020, Nebraska’s largest and only startup accelerator is adding a new high-touch opportunity to its lineup: NMotion Growth Accelerator. “Five out of the 10 companies that came through the NMotion…
Donations honoring late podcast host, comedian fund ‘place of peace’ for young creators; recording studio dedicated to Mathew George
Friends and family of the late podcast host Mathew George gathered to celebrate the dedication of Operations Breakthrough’s newly-debuted recording studio on what would have been Mathew’s 27th birthday. “What could have been a really depressing day was more celebratory, like it would have been if he were still here,” shared Mary Ann George, mother…