SBA 7(a) Self Storage Feasibility Study in South Carolina

What South Carolina records for SBA 7(a) self storage loans

SBA's files show 47 approvals under 7(a) for self storage projects in South Carolina between FY2017 to FY2026, worth $85.1 million. South Carolina's self storage volume under SBA 7(a) stands 11 nationally on loan count, and self storage is 13 of 39 within South Carolina's asset classes. Usual size: $1.4 million. Compared with SBA 7(a) self storage loans nationwide, South Carolina runs at 1.38x on that median, a heavier ticket profile. The middle half of South Carolina loans run from $710,000 to $2.6 million. 0.00% of these South Carolina loans went to franchised businesses. At $1.4 million, the median loan is the figure that separates South Carolina's SBA 7(a) self storage cell from both parent: self storage across both programs in South Carolina, and self storage (SBA 7(a)) lending nationally.

For South Carolina self storage: lenders and local spread

At the top of the lenders list in South Carolina: Live Oak Banking Company, 33 loans at $64.6 million; Bank Five Nine, 6 loans at $5.7 million. The South Carolina self storage table follows whoever owns each South Carolina loan; the original lender of those 33 loans can differ. Within South Carolina, the counties with the most loans are Anderson with 6, York with 6, Greenville with 4 and Lexington with 4. Timing tells a clear story for self storage in South Carolina: approvals peaked at 8 loans, worth $19.1 million, in FY2017, with FY2026 at 3 loans and $7.4 million.

South Carolina: outcomes, read as minimums for self storage

Cancelled loans after approval reach at least 5.1% for South Carolina FY2017 to FY2024 self storage approvals, with the upper bound sitting at the same 5.1%. On South Carolina self storage loans funded in FY2017 to FY2021, the 47-loan record yields a charge-off cohort that is too thin; we give no South Carolina number and imply no zero for self storage. Lenders needs to treat these South Carolina rates, drawn from 47 loans, as minimums, not as settled results. The grouping carries a classification limit worth knowing in South Carolina: South Carolina's total arrives with one reservation: boat and RV storage share an identical code as indoor units and general storage.

The work behind a South Carolina self storage loan request

Under 7(a), a South Carolina self storage request, one of 47, is judged by the South Carolina originating lender, whose partly backed self storage loan rests on South Carolina repayment capacity and collateral the South Carolina study has to support. Demand for storage in South Carolina rests on the trade area: new housing, apartment density and how fast competing facilities are delivered. The cost side has detail for land, paving, unit doors and security, since South Carolina costs drift with the cycle. Show the South Carolina self storage case at $1.4 million first, next at $2.6 million, plus one slower year beside each, because a South Carolina lender wants to see where debt service stop be covered. Valuation of a South Carolina storage property turns on stabilised occupancy and market rents, so the study must show the path to both. A borrower that approaches Live Oak Banking Company can read its 33 loans here as context only: SBA's figures show loans, not its requirements.

Take the South Carolina self storage history above, 47 loans, as background: a self storage study from Loan Analytics for South Carolina, signed by Daniel Smith, MAI, for self storage, does the site-specific South Carolina testing, and nothing here guarantees South Carolina approval of a self storage loan.