How Do I Get The Money?
Show notes
Did the SBA just lock first-time buyers out of storage investing? Not according to the lender who finances storage deals every day.
Joe Downs sits down with Anne Mino, a senior loan officer on the self-storage lending team at Live Oak Bank, one of the country's largest SBA lenders.
Financing storage acquisitions, expansions, and new builds since 2019, and an owner of storage herself, Anne explains why projections-based lease-up deals are still in play, which debt service coverage targets to hit by month 13 and year three, and how the new guarantor, trust, and appraisal rules change partner-funded deals.
If you want to buy a storage facility and need proven financing strategies before your next deal, this is your insider briefing.
Your interest rate, terms and speed to receive funds differ based on your creditworthiness, industry and other factors. Member FDIC.
Listen For:
4:36 Can first-time buyers still get an SBA storage loan without experience?
6:09 Does Anne Mino rank liquidity above net worth for storage lenders?
14:20 Did the October 1 SBA changes really end projections-based storage loans?
24:04 Can partners still fund your first storage facility, according to Anne Mino?
29:08 Does every owner of an SBA-financed storage deal need US citizenship?
CONNECT WITH GUEST: ANNE MINO, SENIOR LOAN OFFICER AT LIVE OAK BANK, SELF STORAGE DIVISION
Live Oak Bank | LinkedIn | Email | 910-550-2297
CONNECT WITH US
Belrose website | Belrose email | Belrose LinkedIn
Check out the FULL episode on YouTube
https://www.youtube.com/@TheStorageMoguls
60 minutes
Storage Moguls Live. Friday, October 16 in White Marsh, Maryland. One day with self storage owners. Walk through a real facility and learn how they find, finance, and close deals. Only 15 tickets. Register at https://go.storagemoguls.ai/white-marsh-md before Thursday.
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