With June coming to a close, we can see how the rates have compared to last year.
In June 2022, the average price per square foot was $1.83. While this past month, for June 2023, the average price per square foot had dropped to $1.57 per square foot. This was a 14% decrease year over year.
However, the average price per square foot in June 2019 was $1.37 making the percentage change from 2019 to 2023 a 14.2% increase. Gaining some altitude to the situation allows us to see that rates are still in a strong spot.
Pros and Cons of Self Storage SBA Loans vs. Traditional Loans
Decide wisely between SBA and traditional loans for your self-storage business. SBA offers lower down payments, but traditional loans provide lender reliability. Make informed investment choices for your storage facility.