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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. This calculator does not calculate the Annual Percentage Rate or Average Prime Offer Rates. BLP does not guarantee any of the information obtained by this calculator.

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Self-Storage Facilities with SBA 504 - BLP - Business Lending Partners
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SELF-STORAGE FACILITIES WITH SBA 504

The self-storage industry has grown significantly in the last decade, making owning and operating a self-storage facility a lucrative business investment

An SBA 504 loan can help cover the costs of a purchase, construction, or renovations needed. SBA 504 funds can also be used for current storage facilities in need of security fences, monitoring systems, or any other long-term equipment needs.
The maximum amount a business can borrow for self-storage facilities is $5 million. To qualify for an SBA 504 loan, a business has to be for-profit with a net worth less than $15 million, average net income less than $5 million over the past two years, and qualified use of funds.

As a lender, you can benefit from SBA 504 loans as opposed to conventional loans like the SBA 7(a) loan because they have lower interest rates and fees. SBA 7(a) loans typically require 7.5-11% in interest for self-storage facilities, while SBA 504 loans typically require around 5%.

Benefits SBA 504 loans offer over traditional loans are:

 

  • Lower down payment than traditional commercial real estate loans – requires as little as a 10% down payment
  • Long-term fixed rates for better cash flow and budget management
  • Flexible terms that allow you to meet your specific needs
  • No penalties on prepayments, giving you the freedom to pay off loans early

CONTACT US FOR YOUR BUSINESS LENDING NEEDS

Wesley Walsh
Wesley Walsh
Loan Officer
Wesley Walsh's aptitude for navigating the world of commercial lending is outstanding and his passion for helping small businesses is second to none. Walsh graduated with Magna Cum Laude honors from UW-Eau Claire and previously worked at Associated Bank in Green Bay and as a business development officer at Tri City National Bank in Milwaukee.

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