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
After years searching for belonging, new VFA director discovers like minds within startup workforce fellowship
Craig Moore’s new role at Venture for America gives him even greater opportunities to boost representation for entrepreneurs and workers of color, the Black Excellence KC co-founder said. And VFA already has been doing the work, he added. “This is probably the most culturally aware group I have ever been a part of,” said Moore,…
She’s on a mission to boost the region’s tech talent; SnapIT’s new office in Wichita is the next step
Overland Park-based SnapIT Solutions has expanded its promise to deliver high-quality technology job training and educational services into Wichita, Neelima Parasker said, detailing a new partnership between the information technology firm and Wichita State University. “The IT side of the tech industry is now more in demand than ever. … I want to maximize Kansas’…
Kauffman awards Omni Circle $360K grant to help build minority small business hub
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. Editor’s…
MADE MOBB remix: How the KC streetwear kings’ Chiefs collab takes their grind to the gridiron
The postseason pairing of Kansas City’s premier streetwear brand and its most celebrated sports franchise is a dream come true — one years in the making for longtime fans and co-founders Vu Radley and Mark Launiu. “I’m glad it happened now, because after nine years of doing this, we are ready,” said Radley, describing MADE…