Self Storage Loans
Self Storage Financing Options
Wilshire Quinn finances commercial self storage loans nationwide up to $10 million. As a direct private money lender, we are able to underwrite your project fast and get a pre-approval letter within about 24 hours and fund the deal within about 5-7 days. Wilshire Quinn realizes the complexities of financing commercial self storage loans.
- Commercial self storage loans available nationwide
- Loan sizes starting at: $200,000
- Max LTV: 60%
- Purchase, refinance, cash-out refinance, rehab
- Interest only: 9% – 12%
- Term: 6 months – 24 months
Commercial self storage loans are provided for self storage and mini-storage properties that are stabilized and are located in high traffic metropolitan areas. Construction should be concrete block, brick, or wood framed. Preference is shown towards single story facilities unless a drive-up access is provided.
How Self Storage Loans Work
How to finance a self storage facility
Self storage loans are usually commercial real estate loans. Wilshire Quinn provides short term reliable financing through bridge loans typically 6, 12, or 18 months while traditional financing is secured. For self storage loans, we generally look at the business’s financial performance, value of the real estate, the surrounding market, and your credit profile to make a lending decision. Because we are a direct lender we typically are able to make this decision within 24-48 hours and provide you with a pre-approval letter. Then we are able to fund the loan within about 5-7 days.
- Loan collateralized by real estate – no business only financing
- Prefer high traffic metropolitan areas
- Loan approvals based on value of real estate rather than borrower credit score and financials
Our successful track record is closely linked to our ability to make immediate lending decisions based on our highly disciplined underwriting approach. The emphasis on in-house loan origination allows our borrowers to move forward with confidence on their mobile home park loans.