If you’re looking to get a loan to expand your self-storage business, Credibly is a good place to start. They offer storage unit financing in amounts anywhere from $150,000 to $5 million with repayment terms between three to ten years, making these an excellent solution if you plan to build more units to expand your already-thriving business.
Credibly offers a wide range of self-storage loan options, including a business line of credit, working capital loans, business expansion loans, and SBA loans. While all of these options are useful, Credibly’s business expansion loans are the best choice for experienced self-storage owners who are looking to further develop their business.
Business expansion loans can be taken out in any amount between $150,000 and $5 million. APRs for these loans range from 8% to 25% and must be repaid within three to ten years. Though the minimum credit score, time in business, and annual revenue requirements for other Credibly loans are relatively low, the qualifications for business expansion loans are not publicly available; check with the lender for more information.
If you already run a successful self-storage company and want to expand your business, this is the perfect loan for you. Whether you’re adding more units, reconfiguring existing ones, updating your security system, hiring more staff, or building a new facility, you can borrow as much as you need up to $5 million and have up to ten years to repay the loan.