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
Pipeline unveils first-ever double cohort in bid to develop region’s next great serial entrepreneur
Twenty-five founders are entering the Pipeline network this week, Melissa Vincent said Thursday, revealing the newest additions to its elite fellowship, as well as the just-debuted Pathfinder cohort for earlier-stage, underserved entrepreneurs. “We were blown away by the response,” said Vincent, executive director of Pipeline, noting the fall 2021 recruiting period was the most vigorous…
10-year plan to create more ‘equitable downtown’ would remove interstates, make way for ballpark in city’s core
Editor’s note: The following story was originally published by CityScene KC, an online news source focused on Greater Downtown Kansas City. Click here to read the original story or here to sign up for the weekly CityScene KC email review. A strategic plan that encompasses neighborhoods more than a mile from the skyscrapers of its central business district and…
Kanbe’s Markets selected for $30K in marketing services from surging Crux KC team
Kanbe’s Markets is expected to harvest boosted visibility and functionality thanks to a newly announced donation of $30,000 in pro bono marketing services from one of Kansas City’s fastest-growing agencies. Crux KC selected the nonprofit for its annual “Crux for a Cause” initiative, which is expected to provide an entire year of services from a…
LaunchKC opens applications for new Social Venture Studio; five slots expected for cohort focused on KC
Entrepreneurs hoping to provide both social impact and return on investment are encouraged to apply for the inaugural cohort of LaunchKC’s Social Venture Studio — an effort focused on creating sustainable business models to tackle social, racial, or environmental issues. Click here to apply through March 30. The studio is seeking a diverse cohort of leaders,…