Unlocking SBA Financing: Exploring C-PACE for Self Storage Facility Construction

Unlocking SBA Financing: Exploring C-PACE for Self Storage Facility Construction

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Question: Hi Beau, I'm interested in exploring the possibility of combining C_PACE with SBA 7(a) financing. I'm planning to build a self-storage facility in San Diego County, with a total project cost of around $8 million.

Barret

Read on for Beau's answer.

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Timestamps:
(00:02) Barret expresses interest in combining C-PACE with SBA 7A financing for a self-storage facility project in San Diego County with a total cost of around $8 million.
(00:25) Both SBA 7A and C-PACE can be used in the capital stack if the projections show the cash flow can debt service at a ratio of 1.15, preferably 1.2 or better.
(00:53) For deals under $5 million, the speaker suggests using only SBA 7A financing with equity contribution, but for larger deals, a combination of both options is practical, e.g., $5 million SBA loan and around $2.5 million C-PACE financing.
(01:36) California's lenient C-PACE policies make it likely to meet the C-PACE benchmarks, and some banks have been underwriting and closing such deals for the last five to eight years.

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#SBA7A #CPACE #selfstoragefacility

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