Self Storage Investing Changes to the Small Business Administration (SBA) Rules
These are changes that could impact cashflow.
The revisions to the SBA rules make it easier for borrowers to meet the 10% equity requirement for loans, allowing seller debt to count towards the full 10% equity injection.
Other changes include the acceptance of Home Equity Line of Credit (HELOC) or cash-out refinance of real property as equity, and the simplification of debt refinance.
And a newly implemented rule limits loan terms for partner buyouts to 10 years.
WHAT TO LISTEN FOR
5:18 Use of HELOC and Cash-out Refinance for Equity
6:30 Clarification of SBA 7(a) vs. 504 Loans
17:40 SBA’s New 10-year Loan Term Limit
26:21 REITs Management Approval
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