Moe Kruger – Senior Loan Officer at Live Oak Bank talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Moe Kruger is a 30-year banking veteran that specializes in storage financing for small business owners. Over his 30 years in banking, Moe has been a branch manager, bank business development officer, residential mortgage specialist, private banking manager, commercial relationship manager before settling in and focusing on helping small business owners. He has a great love for entrepreneurs and has spent the past 16 years financing business acquisitions, real estate acquisitions, and construction lending utilizing the Small Business Administration programs. He has closed close to a billion dollars in loans over his banking career including $250 million in storage loans. Moe joined Live Oak Bank in 2015 as a senior loan officer for the self-storage vertical. At Live Oak Bank, he is focused on loans that include construction deals, acquisitions, conversions, and mobile storage deals. 

In this episode, we talk to Moe about how he got into self-storage lending, the keys to successfully getting an SBA loan for self-storage, the difference between SBA versus traditional commercial loans, and the common gotchas you should avoid.

What You'll Learn from This Episode

• How Moe Kruger became a senior loan officer at Live Oak Bank
• How Live Oak Bank became the leading SBA Lender by dollar volume in the United States, especially for self-storage
• How to ensure a smooth SBA loan process when applying for financing on a self-storage facility
• Tips for successfully applying for SBA lending on self-storage
• Why you should look at lenders as a partner in your self-storage business
• Key things that will cause your SBA loan application to be denied
• SBA loans - What's the difference between a 7a and 504?
• What are the differences between SBA loans and traditional commercial lending?
• Can you bring in investors on a deal with SBA lending?
• Instances when a storage deal has gone bad and how having an experienced self-storage partner can save you
• Key questions to ask any potential SBA lender before using them to fund a self-storage deal
• Tips and considerations for new self-storage investors on how to successfully get an SBA loan

Books and Resources Mentioned

• The Road to Family Freedom: roadtofamilyfreedom.com
• Website: LiveOakBank.com
• Email: moe.kruger@liveoak.bank
• Phone: (910) 550-2907

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