SBA 504 Self Storage Feasibility Study in Utah

The Utah self storage (SBA 504) record in detail

On self storage projects in Utah, SBA logged 63 approvals, $94.1 million in gross dollars, in Utah under 504 across FY2017 to FY2026. Measured by loans, Utah takes position 4 for self storage in this program, and inside Utah the class is 5 of 39. Typical size: $1.2 million. Compared with self storage (SBA 504) loans nationwide, Utah runs at 1.38x on that median, a bigger ticket profile. Between $523,000 and $2.0 million lies half of the loans across Utah. Franchised applicants account for 0.00% of the 63 loans. The $1.2 million median marks where Utah self storage borrowers under SBA 504 differ from two reference points: every other program serving this class in Utah, and SBA 504 lending to the same class nationwide.

For Utah self storage: lender names, counties and the yearly pattern

Leading the certified development companies table in Utah: Mountain West Small Business Finance, 53 loans at $80.1 million; Intermountain Business Lending, Inc., 7 loans at $10.8 million. Read the 53 loans and $80.1 million for Mountain West Small Business Finance with care: SBA lists each Utah loan's present holder, so an Utah name above could have taken over a self storage note instead of making it. Utah's self storage loans sort by county as follows: Cache with 8, Washington with 7, Iron with 6 and Salt Lake with 6. The yearly series for Utah is clear: approvals peaked at 14 loans, worth $21.1 million, in FY2021, and the series closes at 3 loans and $705,000 in FY2026; the earliest year, FY2017, had 6.

Utah: outcomes, read as minimums for self storage

Cancellations after approval run 19.3% at minimum for FY2017 to FY2024 Utah self storage approvals; add the loans still undisbursed then the bound is 21.1%. For losses, 34 Utah self storage loans funded between FY2017 to FY2021 show a charge-off floor of 0.00% so far and a five-year figure of 0.00%; loans still on the books can still turn. Readers needs to take these Utah rates, drawn from 63 loans, as floors, never as final outcomes. One coding limit applies Utah self storage figures: SBA does not separate RV and boat lots from conventional self storage; every Utah loan here is therefore an unsorted blend that can include vehicle yards.

What an Utah self storage study has to prove

With 504, each of the 63 Utah self storage projects is financed in layers: with one Utah piece from a certified development company, one from a separate self storage lender, and the balance from the Utah borrower; the self storage study should show how the combined Utah structure is paid. A storage study for Utah has to measure existing rentable space against the households, renters and small businesses within a realistic drive of the site, because competing space is judged parcel by parcel and not by state. The cost side has line items for the site, paving and fencing, unit doors and security, since Utah bids move alongside the market. Show the Utah self storage case at $1.2 million to start, next at $2.0 million, and a weaker year under each, so an Utah lender wants to see how debt service cease to fitting. Valuation of an Utah storage facility depends on stabilised fill and achievable rents, which means the feasibility work must document the path to them. Mountain West Small Business Finance's 53 loans show what an Utah self storage lender has funded; nothing in them reveals the terms Mountain West Small Business Finance would set for an Utah self storage borrower, which stays its own to say.

Daniel Smith, MAI, signs the Utah self storage study: the $94.1 million approved before is orientation, and the self storage study itself answers the local issues; Utah approval is never assured here.