Sba Loans For Self Storage Facilities

Sba 504 loans enable a self storage owner to purchase renovate construct or refinance commercial real estate with a 10 percent down payment which helps the business retain working capital.

Sba loans for self storage facilities.

A look at the self storage business. Sba loans are available to purchase refinance expand or build a self storage or mini storage facility. Renovations equipment closing costs and soft costs can be financed as part of the total project cost. This post is primarily about 90 financing.

With this loan you can build anything from basic self storage units to top of the line air conditioned facilities. Our self storage loan team can guide you through the process of building buying or improving a facility and help you discover the benefits of owning a self storage business. A self storage facility is eligible for refinancing as long as the property has been operating under the same ownership for at least two years. Buying an existing self storage facility.

90 self storage financing possible with or without experience. This allows you some flexibility with your working capital so you can focus on renting out units rather than being concerned about immediate debt payments. The sba 7 a loan program is an attractive option for self storage owners because it allows them to acquire build and renovate facilities while allowing them to stay independent. Once you re up and running you can focus on your operation instead of wondering how you ll make your next balloon payment.

Refinancing available in 2016 the sba introduced new rules that enabled borrowers to refinance a conventional loan on self storage properties into an sba 504 loan. How self storage facilities use sba 504 loans sba 504 loans are specifically intended for the purchase and improvement of commercial real estate as well as for the construction of new buildings. For more information check out our page on refinancing debt. Our self storage loan team will work with you from day one to get your money.

The small business administration sba 504 loan program can help entrepreneurs lock down a facility for their business or help those who are already operating self storage facilities expand. Sba loans are especially good for self storage facilities because you can finance all of the construction interest and up to two years of loan payments. There are specific conditions for the loan to be used this way. Refinancing a self storage facility.

Self storage construction financing self storage construction loans are possible via the sba real estate loan programs at 90 loan to cost up to approx 9 million 85 loan to cost above 15 million and in some case 80 loan to cost to approx 20 million.