Self Storage Loans - Public Storage Financing
Self storage loans also referred to as public storage financing are available through a variety of sources. For loans less than $5,000,000 a small business loan can typically be used to acquire, build or pull cash out of an existing facility.
Small business loans for self storage businesses are fairly straight forward when applying for a loan to purchase a self storage facility. However, when the need is for a construction loan to build a self storage facility, the process can become more tricky.
Self Storage Loans - Details
Self storage loans typically require the borrower to place a down payment of about 80% of the funds required to make the acquisition or to build the facility. However, in the case of a purchase, experienced self storage businesses can sometimes get loan as high as 90% LTV.
90% LTV self storage loans are not uncommon but there are some conditions that must be met in order for a borrower to get a loan higher than 80% loan to value. With amortization periods of up to 25 years, these loans can be a real boon to the cash flow as they allow for some of the lowest payments of any self storage loan on the market today.
Self Storage Loans - Making Application
When applying for a self storage loan make sure to put together a complete bio of your experience. Be sure to include details about your business and industry experience even if they do not pertain to self storage businesses as all business experience success will be considered in the underwriting process.
To find out how to get leverage as high as 80% LTV or even 90% LTV on your self storage loan call the experts at Dividend America Commercial Lending. Experts at self storage loans and small business loans alike. Contact Michael Gross, President, DACL, mgross@dividendamercia.com or call 404-549-6756.
Lending in all 50 states with a focus on the markets and submarkets listed in the S&P Case Shiller Home Price Index and the surrounding secondary markets to those cities. We look for opportunities in: Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, Fort Lauderdale, Orlando, San Diego, New York, San Francisco, Phoenix, Atlanta, Tampa Bay, Detroit, Minneapolis-Saint Paul, Charlotte, Dallas / Fort Worth, Portland, Seattle, Cleveland, Oklahoma City, Jacksonville, Indianapolis, Nashville, Kansas City, Louisville, Milwaukee, New Orleans, Philadelphia, Raleigh, Sacramento, Salt Lake City, San Antonio, San Jose, Saint Louis, Tucson, Austin, Baltimore.
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