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
Investors laud emerging founder’s expertise as CarePilot logs $2.5M for AI healthtech tool
It’s rare for a regional venture capital firm like KCRise Fund to invest in an entrepreneur just out of college, the Midwest-focused firm told Startland News, detailing the remarkable talent that led it to join an early round for Joseph Tutera’s digital health startup. Overland Park-based CarePilot recently announced a $2.5 million seed round led…
Whir to find hyper-local deals: Startup launching app to help newcomers, natives connect to small biz exclusives
A side quest for $5 burger baskets and cheap beers has matured into a tech platform built to help a wide range of users easily discover local deals, said Blake Coffee, noting his startup deepens small businesses’ engagement with their communities. “We definitely thought it would be more of a college app at first,” said…
Scoops out for summer: Couple’s rock-themed ice cream brand Alice Scooper’s adds another shop on its Northland tour
Mel Engel and Todd Eaton are now taking a second stage, opening their family business — a shop known for made-on-site ice cream and sorbet — in a new Northland city after charting quick success in their hometown. Alice Scooper’s Ice Cream Co. is set to debut next week in The Village at Briarcliff, 4173…
Why this ‘monstrous Midwesterner’ started the presses for a sacred space in KC’s West Bottoms
Editor’s note: The following story was produced through a paid partnership with MOSourceLink, which boasts a mission to help entrepreneurs and small businesses across the state of Missouri grow and succeed by providing free, easy access to the help they need — when they need it. [divide] Thayer Bray loves printmaking, but he gets just…