Self-Storage Loans
Self-storage loans are used to finance the acquisition, development, expansion, or refinancing of self-storage facilities.
What is a Self-Storage Loan?
Self-storage loans are used to finance the purchase, renovation, or new build of self-storage units over a 20-30 year period. Getting a self-storage loan usually involves an evaluation of credit and business finances and a review of the value of the storage units and the condition that they are in.
With more people choosing to downsize and with the ability to work from home, the self-storage market is on the rise making storage units a good investment option to generate additional income.
Common Uses of Self-Storage Loans
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New Facility Construction: Financing the development of a new self-storage facility.
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Facility Expansion: Upgrading the facility to add new units to increase capacity and revenue.
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Property Expansion: Purchasing an existing self-storage property.
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Debt Refinancing: Refinancing an existing loan to secure a better rate.
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Operational Improvements: Investing in security, technology, or other improvements that enhance the facility's efficiency and attractiveness.
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Key Features of Self-Storage Loans
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Various financing options are available
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Working capital can be included in the loan amount
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Competitive interest rates
