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
It’s wheels up for KC flight attendant-turned headwear designer: Heavy Head takes flight
Jaclyn Heupel had a gut feeling early in the pandemic that she would eventually get furloughed from her job as a flight attendant with American Airlines. Brainstorming ideas for a side gig to help her pass the time led Heupel to a sewing machine and fabric. Watching YouTube videos brought experimentation with materials. She settled…
Chefs transform ‘ugly’ produce into beautiful dinners: How Kanbe’s Markets is taking food waste off the menu
From lumpy apples to a spotty potato, foods with cosmetic flaws are still edible and nutritionally dense, said Ali Curbow. “People turn away these types of produce because it is considered ‘ugly’ — but we’re hoping to showcase that these ugly produce can be made into something beautiful,” said Curbow, marketing manager at Kanbe’s Markets,…
Gator, shrimp po’boys made to order, but Chef Esra has more than sandwiches plated for KC’s East Side
Opening a restaurant is just one phase of Esra England’s vision for Kansas City’s East Side. “I’m looking at a restaurant as an anchor point. Once you have a restaurant in the area, the community will be able to do different things like host meetings or classes — and hopefully, other businesses will start to…
KC investors power $4.5M round for OP startup poised to ‘unlock billions’ for its customers
Overland Park-based Realto has closed a $4.5 million funding round — thanks in large part to the backing of Kansas City-based investors. “We’re excited to welcome these important investors as we continue to expand our robust trading capabilities across the universe of alternative products,” Brian King, co-founder and CEO, said in announcement of the funding round which…