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
Sacred sips: Alcohol-free bar on 39th Street creates healing space where ‘every drink is medicine’
Editor’s note: The following story was published by The Kansas City Defender, a nonprofit Black newsroom producing news, mutual aid and digital tools to keep Kansas City’s Black community informed and organized. Click here to read the original story or here to sign up for The Kansas City Defender’s email newsletter. In a neighborhood built to keep them…
Entrepreneurs say DoorDash accelerator delivered, prepping their small businesses for tall orders ahead
Ten graduates of DoorDash’s 12-week Midwest accelerator gathered Wednesday to celebrate successes from the program, along with lessons they say will last longer than the $5,000 grants each entrepreneur received. “Running a small business is tough work, and it meant so much to receive support from DoorDash and my home of Kansas City,” said Tanyech…
KCK party store’s sales plummet because of ICE fears; It’s not the only business slowed by the crackdown
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. President Donald Trump’s immigration crackdown has many recent immigrants terrified, hunkering down and holding onto their money; That new fear and…
Couple injects $1M ‘financial good’ from RxSS exit to startup special needs initiative; they hope it’s a blueprint for KC
Michael and Brandy Rea built and successfully exited one of Kansas City’s fastest-growing health tech companies. Now the Rx Savings Solutions founders share a new prescription for impact: creating inclusive housing for adults with disabilities. Shifting from entrepreneurship to philanthropy, the Michael and Brandy Rea Family Foundation contributed a $1 million lead gift to support…