Bay Area Capital Funding Inc. offers many diverse programs for Self storage and mini-storage properties:
BACF Inc. provides a wide assortment of comprehensive financing programs. Our primary goal is to be your source for the financing of commercial loans. We provide creative solutions for commercial real estate investors across the nation. If you need to refinance an existing property or you need purchase money - we can help structure the terms that most suitably meet your needs.
Both traditional and stated income loans are available.
Eligible Properties
Self storage and mini-storage properties stabilized or non-stabilized and are located in high traffic metropolitan or appropriate rural areas. Construction should be concrete block, brick, or wood framed. Metal building self storage facilities accepted on a case-by-case basis.
Minimum Loan Size
$500,000.00
Pricing
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Location
OK in mid to large market sectors and small market sectors as appropriate
Loan Terms
5-10 year fixed terms with 25-30 year amortizations.
Prepayment
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Personal Guarantees
Recourse and non-recourse
Minimum DSC
1.15
Loan-to-Value
75% maximum
Rate Lock
On approval
Occupancy Requirements
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Impounds
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Third Party Reports
Appraisal Phase One Environmental possible
Preliminary Submission:
Include the following in your request:
1. Summary with property description and location map
2. Personal Financial statement
3. Representative color photographs
4. Current rent roll and year-to-date operating statement
5. Resume
6. Existing balance sheet
7. Current year operating statement
8. Operating history - prior 3 years, if available