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
Scout charts pre-seed funding from Midwest investors at KCRise Fund, eGrowth Ventures
The just-announced pre-seed round for an emerging innovator in veterinary medicine software is expected to help the Kansas City-built startup deepen its product capabilities, further strengthen its core technology, and strategically grow its team to meet rising demand. “Closing this round gives us the resources and momentum to execute on our mission,” said Dr. Gonzalo…
Keystone launching corporate engagement accelerator to boost low-friction startup collabs
Kansas City’s entrepreneurial ecosystem gets its fair share of positive press thanks to a decade of momentum, Kevin McGinnis noted, but the region’s ability to scale innovative ideas to their potential remains stalled because corporations and startups lack an easy on-ramp for collaboration. “We have been listening for years to the ecosystem, to the community,…
Just funded: AltCap Your Biz cycles trio of winners from KC’s diverse hospitality scene
Persistence pays off, said Ruben Alonso, celebrating a decade of the AltCap Your Biz Pitch Competition and its role as an energy boost for Kansas City small businesses. The latest winning founders walked away with $60,000 in checks Wednesday at Union Station. Two of this year’s top three winners were returning finalists, the AltCap CEO…
Innovation check(s): Angels scout potential KC investments at NXTUS nano-pitch event
A startup showcase Tuesday in the heart of Johnson County’s innovation community put impact on display as NXTUS’ Accelerate Venture Partners organized a nano-pitch event for its network of angel investors amid Global Entrepreneurship Week-Kansas City festivities. The Wichita-based entrepreneurial support organization — which has mobilized over $8.5 million for entrepreneurs in the Heartland since…