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Subject:  SBA loan for self storage Date:  9/22/2019  12:16 AM
Author:  danbobtx Number:  14281 of 14302

I'm contemplating either buying or building a self storage facility. In looking into the idea, it looks like SBA backed 504 loans, potentially including a Green 504 loan offer a lot of advantages - up to a 25 year term, fairly low interest rates (about 5 to 5.25%). Its also my general understanding is that in many cases all of the construction interest plus a 10% contingency and the first 2 years of payments can be financed into the loan.

Anyone care to offer commentary on SBA loans or self storage?

I'm contemplating a facility with a mix of climate controlled and non-climate controlled units. If financing was reasonable, I would look into adding a PV system to meet the energy demand on the self storage section.

I don't have a location picked out or anything like that. Its just been something I'm mulling over, and I'm looking into the markets close to me.
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