Over the past several years, my bank has financed hundreds of self storage deals. Some of these projects were existing facilities while many others were ground-up construction. Demand for storage is soaring and many operators are in need of adding more units to their existing sites.
On a recent deal, I had a current SBA 7a loan in place and we were able to fund the expansion of both Phase 2 and Phase 3 of the site plan with zero money injected into the deal. The SBA 7a loan program allows for zero cash down for business expansion loans as long as the ownership group of the original loan remains the same. Business expansion could mean new construction for adding buildings or buying another self storage facility.
Nick Collins
Commercial Lender – Vice President
Bank Five Nine
155 W. Wisconsin Avenue | Oconomowoc, WI 53066
p: (262) 560-2016 c: (262) 468-6169 f: (262) 804-9926
nick.collins@bankfivenine.com
