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
André’s planted its flag in KC 70 years ago; chocolatier says that’s just a taste of what’s to come
Nearly 5,000 miles from Switzerland, a small group toured the inner sanctum of an iconic 70-year-old Kansas City company — a family-run brand that helped redefine accessible luxury in the Midwest, one Swiss chocolate-covered almond at a time. “What people get excited about André’s is the legacy, that we take a lot of pride in…
Here’s how ULAH’s new boutique model aims to rack success for local brands, not inventory debt
The new KC Collective consignment-based program for local brands at ULAH is a win for both the Westwood boutique and Kansas City creatives, said Joey Mendez and Buck Wimberly, announcing a fresh model to help the struggling store stay open and financially stable. “We’ve always had local brands,” said Mendez, co-founder of ULAH, explaining the…
Tiki Taco ticks up giving alongside expansion; CEO owns up to taco shop’s neighborhood impact model
A month-long campaign in the popular Kansas City-based chain offers easy add-on: joining KC GIFT’s network of donors Restaurant executive Eric Knott wants Tiki Taco’s operators to own the neighborhoods into which the popular taco shop expands, he said, but that doesn’t just mean dominating the fast-casual market in each pocket of Kansas City. “Our…