We can offer self-storage owners up to 65% of the value of the property with our commercial Gold Star loan program. We will also get your closing done in 21 days or less! With loans available from $50K to $5M, we offer a common-sense approach to underwriting. We understand that each client’s needs are different and will treat each loan on a case-by-case basis rather than forcing all loans into the same mold. We have over 300 years of accumulated experience in underwriting loans in Florida and we pride ourselves in helping clients get loans when banks turn them down.
The self-storage market popularity in Florida offers great opportunities for owners to have a regular income stream. Increasing numbers of these units are air-conditioned with higher rental rates than standard storage units. The problem is that owners may have less than perfect credit, but that does not matter to us because our loans are secured by the equity in the property. We don’t need to dig into your credit rating so we will inspect the property and give you an approval quickly and efficiently. Here are some of the Gold Star Program details for storage units:
Gold Star Program for Storage Units
- LTVs to 65%
- Loans available from $50K to $5M
- We can close your loan in 21 days or less
- Underwriting that makes sense
- All credit types are accepted
- Light documentation and self-employment okay
- Showing a loss on taxes is not a barrier
- Fast closing on free and clear properties
- Terms of 5/7/10/15 years available
- Rates 9-12%
- No upfront fees
- Often no appraisal needed — will save you thousands of dollars
Shop Commercial Mortgage is the leader in Florida self-storage unit loans. Submit your needs to us and let us show you our world-class customer service excellence by doing business the old-fashioned way where the customer comes first. For more information call or text 813-368-9919.