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
Muralist Sike Style tapped to bring Buck O’Neil’s legacy to life along bridge honoring KC baseball icon
A new mural project honoring legendary baseball player Buck O’Neil not only helps capture the spirit of a Kansas City icon, artist Phil “Sike Style” Shafer said; it bridges a cross-generational legacy for the barrier-breaking sports icon. “Meeting Buck O’Neil at the K was a moment I’ll never forget,” said Shafer, a renowned Kansas City…
OMG! Her gooey butter cookies saved the family home; now this KC shop is baking even more believers
St. Louis cult favorite — gooey butter cake — serves as the springboard for a new Kansas City bakery … with a twist. It also sells gooey butter cookies. “Gooey butter cake is a St. Louis tradition. It’s where I’m from and we have the family recipe,” said Tennille Lampe, founder of Oh My Gooey…
Ideem locks in $2.4M seed round for trust tech spinout driven by Toby Rush, startup veterans
The Ideem team has a clear vision for how to make two-factor authentication easy and invisible for users, serial tech entrepreneur Toby Rush said, noting an early investment round will help the rapidly emerging startup double-down. Ideem announced a $2.4 million seed round Tuesday, backed by Sovereign’s Capital, Quona Capital, Everywhere Ventures, Hustle Fund, Oread…
Thai Orchid opens Northland location with homey street food set to wow its new neighbors
Even though the new Thai Orchid restaurant in Kansas City’s Northland proudly pays homage to the Rojjanasrirat family’s culinary legacy in Mission, its second-generation owner wants to shock the taste buds of diners who are unfamiliar with the business’ story. “I want the reaction of the people who try our food to be, ‘Wow! That’s…