With July coming to a close, we can see how the rates have compared to last year.
In July 2022, the average price per square foot was $1.86. While this past month, for July 2023, the average price per square foot had dropped to $1.53 per square foot. This was an 18% decrease year over year.
However, the average price per square foot in July 2019 was $1.37 making the percentage change from 2019 to 2023 a 11.4% 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.