SBA Loan for a Syndicated Self-Storage Project

[Trever Nicoll]

Hi All,

I am working on pulling together a self-storage syndication project and was wondering if I can get an SBA Loan as part of the syndication project? I know I can get an SBA Loan for a self-storage project if it's a small partnership or individual, but does it make a difference if it's for a syndicated deal? Any input would be greatly appreciated.

Thanks,

Trever

[Zach Quick]

@Trever Nicoll My understanding is yes as long as any LP's are well below 20% of equity, and the GP has enough skin and/or other collateral worth at least 20% of the loan. Hope that makes sense. I've done a SBA self-storage loan, however it wasn't syndicated, and the person that I'm pretty certain has done a syndicated SBA is pretty experienced so you might take that into account.

I'd probably reach out to @Terry Campbell to discuss the deal/options, I'm sure he can tell you yay or nay.