Lessors of Miniwarehouses and Self-Storage Units acquisitions in North Carolina: SBA loan data
Since FY2018, SBA lenders have approved 28 7(a) loans to buy an existing business classified as Lessors of Miniwarehouses and Self-Storage Units in North Carolina, totaling $37.7M. The median loan was $1,140,500. That is 1.8% of the 1,575 acquisition loans in North Carolina.
Terms signed in the LOI shape the purchase agreement that follows.
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How this compares
The median Lessors of Miniwarehouses and Self-Storage Units loan in North Carolina is 43% higher than the $800,000 median for all North Carolina acquisitions, and in line with the $1,126,000 median for Lessors of Miniwarehouses and Self-Storage Units acquisitions nationwide (285 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 0.0% of seasoned Lessors of Miniwarehouses and Self-Storage Units acquisition loans were charged off, and 2.1% of seasoned North Carolina acquisition loans of any type.
Lessors of Miniwarehouses and Self-Storage Units acquisition loans in North Carolina by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $697K | $697,000 | |
| FY2019 | 2 | $2.4M | $1,210,000 | |
| FY2020 | 4 | $5.7M | $1,522,500 | |
| FY2021 | 3 | $2.8M | $1,070,000 | |
| FY2022 | 4 | $5.8M | $1,305,500 | |
| FY2023 | 4 | $3.1M | $855,000 | |
| FY2024 | 1 | $3M | $3,000,000 | |
| FY2025 | 5 | $5.6M | $910,000 | |
| FY2026 | 4 | $8.6M | $1,713,500 |
How often do these acquisition loans fail?
Fewer than 20 Lessors of Miniwarehouses and Self-Storage Units in North Carolina acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 23 | 82.1% | $33.1M | |
| 2 | Bank Five Nine | 3 | 10.7% | $1.9M | |
| 3 | Harvest Small Business Finance, LLC | 1 | 3.6% | $2M | |
| 4 | HomeTrust Bank | 1 | 3.6% | $697K |
Top franchise brands
No franchise brands recorded in this combination.
Terms signed in the LOI shape the purchase agreement that follows.
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Questions buyers ask
How much do SBA loans for Lessors of Miniwarehouses and Self-Storage Units acquisitions in North Carolina run?
The median SBA 7(a) loan was $1,140,500 across 28 loans (FY2018 to FY2026), with the middle half between $687,000 and $1,741,250. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Lessors of Miniwarehouses and Self-Storage Units acquisitions in North Carolina?
Live Oak Banking Company (23), Bank Five Nine (3), Harvest Small Business Finance, LLC (1), HomeTrust Bank (1). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Lessors of Miniwarehouses and Self-Storage Units acquisition loans fail in North Carolina?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Lessors of Miniwarehouses and Self-Storage Units acquisitions in North Carolina?
1 of the 28 loans (4%) involved a franchise brand.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Small samples move a lot: each loan in this combination is 4% of the count. Industry is the NAICS code the lender recorded. See the methodology.