There has been a LOT of buzz surrounding the new legislation granting self storage some of the SBA kool-aid. Hopefully we’ll see an increase in self-storage construction as a result
(John King) SBA loan guidelines were changed recently to allow self storage/mini storage or mini warehouse businesses as an eligible business type.
Previously self storage facilities were only eligible if more than 50% of the business revenue came from sources other than monthly rents or from what the SBA considered “sufficient services.” For instance, a U-Haul Self Storage business with a mini storage and a rental business had a decent chance at being eligible under the old guidelines.
River City Design 