Live Oak Bank
Category: Finance, Insurance & Advisory
Live Oak Bank has a dedicated self-storage lending team that finances buying, building, converting, expanding and improving self-storage facilities. The team includes a loan officer, underwriters, closers and a construction relationship officer. The bank offers SBA 7(a) and 504 loans, which can require less equity than conventional loans. Its commercial real estate group also finances self-storage.
Who Live Oak Bank serves
- First-time self-storage investors and career changers
- Owners acquiring or expanding facilities and portfolios
- Developers building or converting facilities
What Live Oak Bank does
Acquisition loans
Financing to buy a facility or expand an existing portfolio.
Construction and conversion loans
Financing for new builds and conversions, with the team overseeing the budget and project timeline.
Working capital
Financing to improve and enhance existing facilities.
SBA 7(a) loans
Up to 90% bank financing or higher, fully amortized with no balloon payments, for loans up to $5 million.
SBA 504 loans
Typically 10% down, with fixed or floating rates, for real estate and large equipment, with loans up to $15 million.
Commercial real estate lending
Conventional financing for self-storage through the bank's commercial real estate group.
Frequently asked questions about Live Oak Bank
Does Live Oak lend to first-time storage owners?
Yes. Live Oak works with people entering self-storage as a second act, a new career or an investment.
What is Preferred Lender status?
Live Oak has SBA Preferred Lender status for 7(a) loans, so it can make final credit decisions without separate SBA approval.
How do I start?
Contact a self-storage loan specialist through Live Oak's self-storage loans page.
Visit the official Live Oak Bank website