Lessors of Miniwarehouses and Self-Storage Units: SBA business acquisition loan data
285 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Lessors of Miniwarehouses and Self-Storage Units (NAICS 531130), totaling $402M. Median loan $1,126,000, 75% higher than the all-acquisition median. Annual volume rose 57% from FY2024 to FY2026.
Financing one? Read the guide: How to get an SBA loan to buy a self-storage facility
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Reading this industry's numbers
- Deal size. The loan excludes the buyer's equity and any seller note and may include working capital. A loan request far above $1,880,000 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.6% of all SBA-financed business purchases, ranking #39 of 300 industries tracked.
- Geography. Texas leads with 46 loans; the top five states account for 42% of the industry's acquisitions.
- Jobs. Lenders reported 925 jobs supported across these loans, about 3.2 per acquisition, a rough proxy for the size of business changing hands.
Lessors of Miniwarehouses and Self-Storage Units acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 16 | $23.6M | $997,500 | |
| FY2019 | 13 | $16M | $960,000 | |
| FY2020 | 30 | $43.4M | $1,312,500 | |
| FY2021 | 60 | $83.5M | $1,027,250 | |
| FY2022 | 57 | $80M | $1,110,000 | |
| FY2023 | 20 | $35.6M | $1,409,000 | |
| FY2024 | 21 | $29.3M | $1,404,000 | |
| FY2025 | 35 | $45.8M | $1,104,000 | |
| FY2026 | 33 | $44.9M | $1,200,000 |
How often do these acquisition loans fail?
Of the 119 Lessors of Miniwarehouses and Self-Storage Units acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 83 have already been paid in full.
For comparison, Lessors of Miniwarehouses and Self-Storage Units has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Top states
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 46 | 16.1% | $61M | |
| 2 | North Carolina | 28 | 9.8% | $37.7M | |
| 3 | Ohio | 17 | 6.0% | $27M | |
| 4 | South Carolina | 15 | 5.3% | $25.4M | |
| 5 | Missouri | 14 | 4.9% | $17.3M | |
| 6 | Florida | 10 | 3.5% | $12.8M | |
| 7 | Georgia | 10 | 3.5% | $12.1M | |
| 8 | Illinois | 10 | 3.5% | $10.6M | |
| 9 | New York | 9 | 3.2% | $13.8M | |
| 10 | Louisiana | 8 | 2.8% | $17.2M |
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 178 | 62.5% | $275M | |
| 2 | Bank Five Nine | 51 | 17.9% | $62.9M | |
| 3 | Banesco USA | 3 | 1.1% | $11.1M | |
| 4 | BayFirst National Bank | 3 | 1.1% | $5.1M | |
| 5 | Harvest Small Business Finance, LLC | 2 | 0.7% | $2.5M | |
| 6 | Bank of Hope | 2 | 0.7% | $1.6M | |
| 7 | Glacier Bank | 1 | 0.4% | $3.6M | |
| 8 | First State Bank of Texas | 1 | 0.4% | $3.5M | |
| 9 | Beacon Bank and Trust | 1 | 0.4% | $2.8M | |
| 10 | Hancock Whitney Bank | 1 | 0.4% | $2.6M |
Terms signed in the LOI shape the purchase agreement that follows.
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Franchise brands in Lessors of Miniwarehouses and Self-Storage Units
3% of acquisition loans in this industry involved a franchised unit. Brands with the most SBA-financed resales:
| # | Brand | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | UNITS | 4 | 50.0% | $11.5M | |
| 2 | Kampgrounds of America | 1 | 12.5% | $2.3M |
Questions buyers ask
How much is a typical SBA loan to buy a business in Lessors of Miniwarehouses and Self-Storage Units?
Median $1,126,000 across 285 acquisition loans (FY2018 to FY2026); the middle half ran $703,800 to $1,880,000. That is 75% higher than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Lessors of Miniwarehouses and Self-Storage Units acquisitions?
Live Oak Banking Company (178), Bank Five Nine (51), Banesco USA (3), BayFirst National Bank (3), Harvest Small Business Finance, LLC (2).
Are businesses in Lessors of Miniwarehouses and Self-Storage Units often franchised?
Rarely. Only 3% of acquisition loans in this industry involved a franchised business; most are independent operators.
How risky are SBA loans for buying a business in Lessors of Miniwarehouses and Self-Storage Units?
Of 119 seasoned loans (FY2018 to FY2021), none charged off, against the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Lessors of Miniwarehouses and Self-Storage Units acquisitions?
Median term 25 years, average initial rate 6.49% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
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Related
- Lessors of Miniwarehouses and Self-Storage Units in Texas
- Lessors of Miniwarehouses and Self-Storage Units in North Carolina
- Lessors of Miniwarehouses and Self-Storage Units in South Carolina
- Lessors of Miniwarehouses and Self-Storage Units in Missouri
- Live Oak Banking Company
- Bank Five Nine
- Banesco USA
- All industries