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SELF-STORAGE BUSINESS FINANCING WITH CELTIC BANK
Buy, Build or Update Your Self-Storage Business
The demand for self-storage and mini-storage units continues to grow as more and more people rent rather than own homes. It is a great time to break into the business or expand, update or refinance your existing self-storage facility.
But given the high-demand and low-barrier to entry of the self-storage industry, owner/operators do run the risk of entering an oversaturated market or taking on debt they don’t have the cash flow to cover. That is why it is important to work with a lender that understands the self-storage industry and who can provide affordable loan terms that will set your business up for long-term success.
The low rates and longer repayment terms of our SBA 7(a) financing make it the ideal funding option for your self-storage business. On top of competitive terms, SBA 7(a) financing requires less cash down and may allow for interest only payments during construction and lease up.
We’ve helped countless self-storage owners get the funds they need to turn around poorly managed properties, renovate existing buildings, or start ground-up construction. Partner with a lender today that knows your business.
Self-Storage Business Financing Details
Because the operating costs of running a self-storage business tend to be lower, you want business financing with terms that will help keep it that way. The SBA 7(a) loan is one of the most popular financing options among self-storage owners because of its competitive terms.
It important when considering an SBA loan that you work with a lender that has extensive SBA and industry experience for a quicker and more transparent process. As a top–ten SBA Preferred Lender, we offer a streamlined loan process, ensuring you get funded sooner.
With SBA 7(a) Financing Get:
- Rates at, or below prime + 2.75%
- Up to 85% loan-to-value (LTV)
- Up to $5M in funding
- Terms up to 25 years
- No balloon payments
USES OF SELF-STORAGE BUSINESS FINANCING
Get What You Need—and When You Need It
With lower rates and longer repayment terms, SBA 7(a) financing makes your dollar stretch farther. SBA 7(a) financing gives you the funds you need to invest in the things that keep you competitive in the long-term—while still giving you the cash flow to cover you in the short-term. You can use an SBA 7(a) loan for:
Purchasing an existing self-storage business
Expanding the number of units on site
Renovating and reconfiguring storage units
Replacing rolling doors and equipment
Hiring employees for marketing, security, or operational roles
Refinancing expensive debt
Purchasing commercial real estate
Buying out a partner
RECENTLY FINANCED SELF-STORAGE BUSINESSS
Let Celtic Bank Fund Your Self-Storage Business
CASESTUDY
Don’t Just Take Our Word for It
