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
Check out the entrepreneur winners of this library pitch competition (and beyond-the-shelf resources)
Overwhelmed and excited to make a bigger impact, Rasheedah Villarreal expressed joy and gratitude Thursday after her name was announced as the top winner among a wide-ranging catalog of entrepreneurs pitching for cash prizes, community support, and serious momentum. Her business, Social Emotional Yoga with Mrs. V, also earned “Crowd Favorite” honors, sending the founder…
Controlled Burn: BoysGrow sets the table for fire-infused meal sparked by farm’s teen entrepreneurs, KC chefs
A live fire culinary event at the BoysGrow farm in south Kansas City is a dream come true for John Gordon, he shared, detailing plans for a fundraiser that harvests an immersive and unforgettable dining experience from the teen-focused ag entrepreneurship program. The one-night-only “Controlled Burn” heats up Oct. 5 at the 10-acre farm where…