Wednesday, April 11, 2012

SBA self-storage options- 7(a) or 504?

We have financed millions of dollars in SBA loans for self-storage facilities since SBA began allowing it.

All of them have been done as a SBA 7(a) loan.

Borrowers typically have two SBA loan options-
-the SBA 7(a) loan
-the SBA 504 loan

 The SBA 7(a) loan seems to be a better fit.

Why?  A complicating factor of the SBA 504 program is that it has a job creation provision.   The requirement that borrowers create jobs does not seem to work well for self-storage operations.


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