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Session 10: Self Storage Financing: A Look at SBA Loans

Session 10: Self Storage Financing: A Look at SBA Loans

  • Interest rates
  • SBA 7a
  • SBA 504
  • How has COVID-19 impacted closings
  • How to get financing for your new self storage business

Moderator: Melissa Huff
Pros: Terry Campbell
Peers: Jane Sauls, John Manes

Category: Lending and Finance
Focus: Owners
Aired: March 17, 2020
Duration: 26:10

Gabfest On Demand

Brought to you by industry Pros and Peers, The Self Storage Gabfest is a live, virtual conference for self storage owners, operators, managers, and investors. Gabfest 2020 was broadcasted live on March 17, 2020.

Gabfest Highlights:

  • 12 Action-packed Panels
  • 20+ Peers (Owners, Managers, and Operators)
  • 30+ Pros (Operations, Marketing, Technology, Lending, Portable, Legal)

You can relive the entire, all-day event. Watch from anywhere at any time. 

Want more tools for your managers? Join us on Gabfocus weekly on Thursdays.

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Live Q&A

  1. What is up with interest rates?
  2. What type of loans are you doing the most of these days?
  3. What are the biggest mistakes that you are seeing people make that are trying to get into the business?
  4. Explain some of the financing you have used in the past.
  5. How to achieve financing for growth and expansion? How and when to raise rent amount without losing tenants?
  6. What is the most common hurdle you have ran into with the SBA 7A and the most effective way to prepare for it?

These are just a few of the questions answered during this session! Get your pen and paper ready!

Live Poll Results: What social media platform do you use to promote your self storage facility?

 

poll-social-media

 

 

Meet your panelists

terry-campbell

Terry Campbell

Live Oak Bank

Website: https://www.liveoak.bank/self-storage
Email: terry.campbell@liveoak.bank
jane-sauls

Jane Sauls

Little Vine Storage

Website: https://littlevinestorage.com
Email: janehsauls@gmail.com
john-manes

Johne Manes

Pinnacle Storage Properties

Website: https://www.pinnaclestorageproperties.com
Email: john@johnmanes.com

Got questions or comments for the panelists?

Our panelists will be happy to answer any questions you have. We hope you enjoyed this Gabfest Session. Talk soon!

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Resources

Top 3 Tips for Navigating Self Storage Financing and Loans

  1. Get a feasibility study from a reputable company
  2. Check out all the building suppliers and their references
  3. All loans are not created equal. Talk with a bank than knows this industry and can help you determine with loan is best for you and your situation

Would you like to follow along with the speakers? Download the presentation slides below.

Download Presentation Slides

 

 

Workshop Highlights

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