Lessors of Miniwarehouses and Self-Storage Units acquisitions in South Carolina: SBA loan data
Since FY2018, SBA lenders have approved 15 7(a) loans to buy an existing business classified as Lessors of Miniwarehouses and Self-Storage Units in South Carolina, totaling $25.4M. The median loan was $1,126,000. That is 2.2% of the 683 acquisition loans in South Carolina.
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How this compares
The median Lessors of Miniwarehouses and Self-Storage Units loan in South Carolina is 49% higher than the $755,000 median for all South 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 4.5% of seasoned South Carolina acquisition loans of any type.
Lessors of Miniwarehouses and Self-Storage Units acquisition loans in South Carolina by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $3.1M | $3,086,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 3 | $5.5M | $1,725,000 | |
| FY2021 | 3 | $8.5M | $3,017,000 | |
| FY2022 | 1 | $1M | $1,020,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 3 | $3.4M | $1,000,000 | |
| FY2025 | 3 | $3.2M | $985,000 | |
| FY2026 | 1 | $676K | $676,000 |
How often do these acquisition loans fail?
Fewer than 20 Lessors of Miniwarehouses and Self-Storage Units in South 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.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 13 | 86.7% | $17.3M | |
| 2 | Banesco USA | 1 | 6.7% | $5M | |
| 3 | Bank Five Nine | 1 | 6.7% | $3.1M |
Top franchise brands
No franchise brands recorded in this combination.
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do SBA loans for Lessors of Miniwarehouses and Self-Storage Units acquisitions in South Carolina run?
The median SBA 7(a) loan was $1,126,000 across 15 loans (FY2018 to FY2026). 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 South Carolina?
Live Oak Banking Company (13), Banesco USA (1), Bank Five Nine (1).
How often do Lessors of Miniwarehouses and Self-Storage Units acquisition loans fail in South 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 South Carolina?
None of the 15 loans in this combination were recorded with a franchise brand.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All South Carolina acquisitions
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- 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 Missouri
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Small samples move a lot: each loan in this combination is 7% of the count. Industry is the NAICS code the lender recorded. See the methodology.