SBA Loans Gaining Ground In Self-Storage Financing

Self-Storage Financing

After more than 20 years in self-storage manufacturing, Terry Campbell left to bring a different product to the industry — Small Business Administration (SBA) loans.

In March, Campbell joined Wilmington, NC-based Live Oak Bank, a preferred SBA lender for several niche industries. Campbell was tapped to lead the bank’s new self-storage division. Before his new role, Campbell directed sales and marketing at a self-storage building manufacturer.

SBA loans weren’t available to the self-storage industry until five years ago, and Campbell said they’ve been underused because many banks aren’t knowledgeable about self-storage. The SpareFoot Storage Beat spoke with Campbell to learn more about self-storage SBA loans.

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