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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.
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’
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:
SVP / National Sales Manager
Titan Bank, NA
3100 Monticello Ave, Suite 400
Dallas, TX 75205
Or visit www.titanbank.com