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
De-risking a dangerous job: How a window washing startup is raising the bar (and hose) with drones
It’s a nightmare to clean the windows of multi-story buildings, said Andrew Brain. “It’s incredibly unsafe for folks to be hanging on the side of buildings — and it’s incredibly expensive for them to be there. Insurance liability has gone up 300 to 400 percent. … I was thinking that there’s got to be a…
Callie England’s latest venture has no name or website; When odds are you’ll die next week, you learn to prioritize, she says
Sometimes hypothetical questions become all too real, said Callie England, a serial entrepreneur who frequently posed a speculative query to herself and clients: “If you were going to die next week, what decisions would you make?” It was a question she was forced to answer honestly in July 2021, when the veteran Kansas City startup…
Wingman’s twice-fried chicken flies south, finding its sweet spot in Johnson County
A pandemic-battered, Westport fried chicken restaurant is on the move, chasing new opportunities in Overland Park and frying up a second chance that could be the secret ingredient to franchise expansion, its owner said. “Wingman is the food provider for the entire district,” said Duane Jordan, owner of a Wingman Kitchen franchise, detailing the restaurant’s…
Students hope to make KU the ‘premier blockchain university’; Here’s how startups can help
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. LAWRENCE…