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
City Market eats: Master roaster hopes hungry Kansas Citians will flock to Murmuration
A new eatery and cocktail bar that now shares a space with the popular City Market Coffee Roasters is designed to reflect a vision of bringing people together, fostering connection, and embracing the diversity that makes the City Market so special, said master roaster Nikole Ammer. Plus, the people are hungry — from day to…
Chamber showcase fills Union Station with real-life social networking for small biz owners
Entrepreneur Dane Moss likes to do things a little over the top, he shared Wednesday from inside the Grand Hall at Union Station, noting that simply handing out T-shirts and koozies to event attendees simply doesn’t fit his style. So for his first KC Chamber Small Business Celebration Candidates’ Showcase, Moss and his team from…
1 Million Cups relocating back to Kauffman Foundation, renewing weekly meetup’s energy, sense of purpose
After more than six years connecting entrepreneurs in Midtown, 1 Million Cups Kansas City is returning to its roots — relocating the weekly event series April 9 to the Kauffman Foundation Conference Center where the now-coast-to-coast morning meetup series first percolated. Changing the brew for the Wednesday entrepreneur pitch showcase came from the same voices…
Why the Savannah Bananas founder is coming back to KC (with a tip of his hat to winning leadership styles)
Jesse Cole isn’t afraid to reimagine the way things are done in business, he shared, and his brand of Banana Ball is paying off. In the past nine years, the ringleader of the Savannah Bananas — baseball’s answer to the trick ball-handling and exhibition athleticism of the Harlem Globetrotters — has gone from selling his…