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
EquipmentShare launches new flagship store with $21M investment in Grain Valley
A Missouri unicorn is building impact even closer to Kansas City, opening its new 49,000-square-foot Midwest hub for construction and industrial work in eastern Jackson County. The project reflects an investment of more than $21 million by Columbia, Missouri-based EquipmentShare, said Jabbok Schlacks, CEO and co-founder, describing the property costs, value of equipment and salaries…
KC GIFT’s $100K grant — its largest-ever — aims to help boost Black-owned job creator
A newly opened $100,000 grant represents a significant step in Kansas City GIFT’s mission to close the racial wealth gap — investing in Black-owned businesses that have the potential to become significant employers and economic drivers in their communities, said Brandon Calloway. “We exist to right the wrongs of the past and create the economic…
They just wanted someone to notice: 10 years (and an exit) later, the first founders featured in Startland News have come 360
Editor’s note: Startland News — officially launched May 4, 2015 — is marking its 10-year anniversary this spring. As part of this observance, the nonprofit newsroom is taking a look back at pivotal moments in its decade-long run, as well as impact along the way. Longtime editor-in-chief Tommy Felts caught up with Stuart Ludlow and David…
Entrepreneur flexes her creative strengths into visibility for Kansas City’s lupus warriors
Keisha Jordan refuses to be a wallflower in the fight against lupus, she said. The founder of Kansas City-based creative home design brand Complex Flavors, Jordan is working to raise awareness this month with her own story as an entrepreneur-turned-lupus warrior. “We just want everybody to know that Kansas City has not forgotten about the…