Live Oak Bank’s Self-Storage team was named a 2016 Industry Awards winner in the finance category for Inside Self-Storage’s Annual Best of Business Awards. The industry awards honor self-storage professionals and businesses in over 30 categories.
Established in March 2015, Live Oak’s Self-Storage team is made up of industry experts with over 40 years of experience. The Self-Storage team lends to owners and operators seeking funding for ground up construction projects, acquisitions, renovations, and refinancing. With nearly $80 million closed loans to date, Live Oak Bank’s loan program has become a viable financing option for the industry.
“We are very honored and humbled to receive this award after just one year in the industry. Our goal is to help people get into this business and realize their dreams of having or expanding their own self-storage business. The acceptance of our company and how we work with customers has been phenomenal, and we look forward to continuing to be a helpful resource for the industry,” said Terry Campbell, General Manager of the Self-Storage team at Live Oak.
Owners and operators seeking capital to build or expand facilities have relied on Live Oak to finance their projects.
“What sets Live Oak apart from the traditional lender is their efficiency. Knowing the industry makes a huge difference in moving loan applications forward. Local, traditional lenders might have experience with a couple self-storage deals over many years; Live Oak is visiting dozens per month. Having a lender who not only speaks the language, but is intricately connected to the self-storage industry creates a particular synergy that rolls directly to return on investment in the long run,” said Ben Burkhart, Owner of StorageStudy.com.
The Inside Self-Storage Awards were designed to recognize the companies and organizations that support the self-storage industry. The winners will be honored at the 2017 Inside Self- Storage World Expo in Las Vegas.