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Titan Bank Funds Self Storage Acquisition Loan in Austin, Texas

Titan Bank, NA today announced the funding of a $985,000 loan for the purchase of a Self Storage property located in Austin, Texas.

 
 
Self Storage Property - Austin Texas
Self Storage Property - Austin Texas
PRLog - Feb. 28, 2014 - DALLAS -- Titan Bank, NA today announced the funding of a $985,000 loan for the acquisition of a 342 unit Self Storage property in Austin, Texas. This is the borrower's third Self Storage property and with this acquisition they now own and manage approximately 1,000 self storage units.

Pete O’Hern, Titan Bank’s Sr. Vice President comments, "Titan Bank provided the long term financing for the purchase of this facility by a seasoned owner operating of self storage properties.  This acquisition added 342 units and 45,775 square feet of storage space to the borrowers business.  The borrowers secured a SBA 7A loan which is a fully amortizing, 25 year term loan, that gives them the flexibility of a lower payment compared with a standard conventional loan.  With this lower payment, the borrowers will have the ability to complete some additional improvements they have planned for the property in the near term.”

Titan Bank is committed to this asset class and is looking to develop additional referral relationships across the country in this product category and all “owner user” types of commercial real estate.  Titan provides loan proposals within 24 hours of receiving the requisite information, offers 7 to 10 business day credit decisions, and an expedited closing process.

The funding of this loan enables Titan to extend its lead in the SBA, USDA and small business lending sector.  As noted recently, Titan Bank received the US Government Small Business Administration’s Rising Star Award.  The award is the latest recognition for Titan Bank, one of the few remaining chartered banks that focus primarily on loans to small companies.  Titan Bank intends to continue its expansion in this sector as it plans to add additional business development officers nationwide in 2014.

About Titan Bank

Titan Bank was founded in 1907.  The bank has a long history of focusing on the needs of small businesses in shifting economies.  It is a full-service national bank with the capital, knowledge and staff to help entrepreneurs with their financial needs.  Titan Bank is based in Texas and lends in all 50 states.

Titan Bank specializes in nationwide SBA and USDA Rural Development lending.  The Bank is a SBA Preferred Lender with a full staff of loan officers, underwriters and processors dedicated solely to this practice. For more information on obtaining a SBA or USDA loan through Titan Bank, please contact one of our SBA Loan Experts at 214.526.7178 or visit our website at www.titanbank.com

For more information on Titan Bank, contact:

  Pete O'Hern
  SVP / National Sales Manager
  Titan Bank, NA
  3100 Monticello Ave, Suite 400
  Dallas, TX 75205

  (214)580-3174
  pohern@titanbank.com

  Or visit www.titanbank.com


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Source:Titan Bank
Location:Dallas - Texas - United States
Industry:Loans, Real Estate
Tags:real estate loans, self storage loans, sba loans, Owner Occupied Properties
Shortcut:prlog.org/12288677
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