Self Storage Loans
When it comes to commercial lending for self storage loans and commercial real estate, your most powerful banking asset can be your broker or lender. Commercial loans and the approval process involved when borrowing can be complex. That’s why it’s vital to seek out banks that offer a straightforward loan application, interest rate terms you love, and straightforward repayment, collateral, deposit and refinancing options for your commercial real estate loan.
Whether you are looking for self storage loans to secure funding or lines of credit for a purchase, refinance debt, renovate, or construct a new facility, we will have exceptional commercial real estate rates and term loans available to obtain working capital for your project. We operate on a nationwide basis and provide financing for transaction sizes starting at $1 million with competitive interest rates. There are many competitive business loan options available outside of local bank lenders and we provide on demand access to those capital sources for a trustworthy line of credit, regardless of your previous banker or the reason that you are looking for financing to borrow. The advantage our borrowers get from us is knowing which lenders are offering the most competitive terms, fastest underwriting, and most dependable business needs for their investing and getting quick and reliable access to these commercial lending providers.
Types of Self Storage Loans We Offer
For any self storage facility, we can offer a variety of terms and structures for a commercial loan or term loan, including SBA loans. Below is a general outline of our capabilities;
- Loan to value ratio up to 75% for a 1st commercial mortgage, 85% with mezz/pref
- Up to 30 year amortization, interest only available
- Up to 10 year fixed rate loan term, (longer at lower leverage)
- Non-recourse and recourse options for loan payment
- Rates, exceptional and market competitive loan terms; fixed rate loan or variable rate options
Below are the business lending types that our loan officer experts are able to offer for investors:
- SBA Loan (Small Business Administration) & USDA Loan
- Fixed and floating rate
- Ground up construction
Our borrowers for self storage facility financing are typically middle to small market owners and operators or one or many facilities, looking for a small business loan or business financing. We can work with any type of facility and business owner to offer commercial real estate loans, including; Drive-up, climate controlled, business storage, student, military, 24 hour, & vehicle, etc. To discuss Any self storage loans or construction financing, call us directly at 866-647-1650 or fill out the contact form to the right.
Examples of Self Storage Loans
Example 1) A borrower came to us wanted to refinance and cash out of two self storage facilities located in Washington and Portland. He owned these properties with 2 other partners, none of which wanted to guarantee the loans and they were looking for flexibility in prepayment and long term fixed rates. We were able to structure a 70% loan to value $4 million & $3 million deal for the properties with a bank partner, that gave them flexible prepayment, a low 7 year fixed rate, 30 year amortization, and non recourse.
Example 2) A borrower was wanting to acquire and turn around a self storage facility in NC that had been under performing due to mismanagement by the current owner. He wanted a non recourse short term deal that would get him acquisition dollars and rehab money. We were able to structure a $5 million bridge loan that was non-recourse, 70% of stabilized value, interest only with a very competitive rate, and included rehab money for the borrower to execute his plan and turn the property around.
Example 3) A borrower was looking to cash out refinance a self storage facility located in Florida. The borrower was looking for max leverage, non recourse, and max cash flow. We were able to structure a $7 million CMBS loan that got the borrower 75% loan to current value, over $3 million cash out proceeds in his pocket, a very competitive 10 year fixed rate, and 30 year amortization. This deal maximized both his cash proceeds and forward cash flow, all while keeping the deal non recourse.