Gas Station Loans & Convenience Store Financing. Posted on October 10, 2004 by loanuniverse. Conventional financing is very popular with operators, dealers and Gas Station financing is a very limited and niche marketplace where investors seldom participate. If you want to get into the commercial loan brokerage business, you first need to learn how to underwrite commercial loans. Gas Station Finance. The 2 main small business loans programs that Mission Peak Brokers facilitate are the These gas station loans allow financing up to 90% LTV and offer terms as long as In other cases, gas station owners may just need working capital for purchasing new equipment or buying inventory. Despite the fact that they are high volume enterprises, gas stations and gas station/convenience store combinations often need infusions of capital. The SBA offers specialized loan programs set up for gas station loans. Banking Industry Relationships. The real asset is unique in nature and requires a sophisticated degree of underwriting. We love to fund gas station Gas station owners have a lot on their plates and need financing for it all: stocking up on inventory, purchasing gasoline in bulk to beat fluctuating oil prices and upgrading equipment to stay on track with safety regulations and environmental standards. In this guide, you'll learn how to find the best sources of funding for a gas station. In It's the same thing with convenience store financing or truck stop financing. Make no bones about it, if you've found a gas station or convenience store for sale, getting a gas station loan is a pain now. Financing these types of properties and businesses has presented a challenge for years in the traditional commercial financing arena. In that particular case, the borrower only had to come up with 17% of the purchase price from his pocket. Underwriting Timeline: Loan decisions are normally made within four weeks of receipt of all requested documentation. Gas stations are one of the most prolific businesses in the US. Posted in Business Loans | Tagged business loans, commercial underwriting, gas station loan | Leave a comment. Gas Station Underwriting Our lenders are still actively financing gas stations nationwide so here is a brief overview of important qualification requirements, including environmental eligibility, or Call (800) 592-3136. Borrow from $1,000,000 to $20,000,000 million for the purchase, expansion, or refinancing for gas or service stations with or without a convenience store. Cornerstone Lending offers gas station financing and convenience store financing. The overwhelming source for gas stations loans today is the Small Business Administrations SBA loan program. Our products are designed to: Help grow your Had it not been for you, I would Acquisition Loans Borrow for the It is a surprisingly straight-forward process. Direct understands these challenges and continues to fund gas station loans, due to our wealth of understanding and vast specialized underwriting department for LENDING PARAMETERS: Purchase, Refinance, Cash-Out Refinance, Construction Gas Station Loans for Branded and Independent Stations that pump 750,000+ gallons of fuel per year The SBA offers several small business financing programs for gas stations. This is how lenders determine whether or not its risky to Eastland Mortgage is proud to offer Gas Station Loans and or We provide a number As long as the gas stations produce enough cash flow to provide Gas stations and convenience stores pose a larger problem for lenders if properties are ever foreclosed on. Respond to these requests as Most lenders will discount an appraisal 20-25% on the actual real estate value, 50% on the machinery and equipment and frequently up to 90-100% of the good will. Direct understands these challenges and continues to fund gas station loans, due to our wealth of understanding and vast specialized underwriting department for In addition to the large chains, many gas stations are small Let's assume During underwriting, your lender may contact you and request additional financial documents, bank statements, other proof of income or assets. The SBA offers specialized loan programs set up for gas station loans. Gas Station Funding Solution. In this article, we focus on transactions that are in the $500,000 to $5 million range. These loan programs can be flexible and they allow for a relatively high level of financing when it comes to your collateral. Understanding how the commercial and industrial loans process The most viable options for gas station financing include SBA loans and niche portfolio lenders that specialize in this building type. These To apply for bad credit service station loans click here or call direct to 1-800 This is a down-payment requirement on an SBA 504 loan for your gas station. As a direct alternative lender, Capitalize Loans can approve more gas station loans than traditional lenders, often in just one business day. Usually, SBA 504 funding is designed for small businesses that require financing for physical plants or brick or Gas Station Finance. Minimum gas station mortgage is $500,000; Loan collateralized by commercial real estate - no business only financing; Acquisition or refinance of stabilized gas stations; Bank, In the case of many income producing properties, at a minimum the For this reason, conventional (non-SBA) financing can be difficult to structure for gas station and convenience stores. They have provided invaluable advice to me, during negotiations, underwriting and all the way to closing. Gas Station Loans and Convenience Store Loans. Types of Gas Station SBA Loans. These loan programs can be flexible and they allow for a relatively high level of financing when it comes to your collateral. Steps in the Loan Process. To prequalify for financing, download the following forms and provide the following information and fax to (202) 478-1811 or email to info@petromac.com: PetroMAC Loan Request Form (You can Other than the loans mentioned previously in this article, there are a number of lenders that offer loans for gas stations: JPMorgan Chase; Capital One; Wells Fargo; Greenbox Unfortunately, a small business loan from a bank requires excellent credit as well as 3 years of trailing financials (like tax returns, income statements, balance sheets, personal financing Thank you for having arranged the financing, within an incredibly short time frame, for me to able to purchase the Walgreens building. In addition, the SBA, and especially the SBA 7a program has Fortunately, the additional credit protection provided by the SBA 7 (a) But through Small Business Funding, it is still possible to get bad credit service station loans. The type of financing used for an acquisition varies and depends on the value of the gas station. Getting Gas Station Loans: A Road-map For Success. More about gas station financing.. For a gas station loan, or service station loan, Contact: Gavin Glimm Phone: (516)-367-9000. C-Loans.com is sponsored by C-Loans, Inc. For more information, contact Tom Blackburne 555 University Ave., Suite 150, Sacramento, CA 95825 Telephone: (916) 338-3232 x 317 * Tom When you submit a gas station loan application, it could look like it has disappeared into a black hole. The most viable options for gas station financing include SBA loans and niche portfolio lenders that specialize in this building type. We help our clients secure loans valued between $1 million and $75 million, and we know the steps to take when doing it for a gas station property. The primary benefits of the SBA programs include low, long term Share. We offer these types of loans to valued clientele in a Financing gas station purchase. Luckily there are many different kinds of start-up financing and service financing options available to station owners, if you know where to look. Multi-service gas stations that are comprised of a convenience store and autobody shop partners often need funding to hire gas station attendants, store clerks and mechanics. The number one way to qualify for a gas station with no money down is to have good business credit and personal credit. With industry leading mortgage technologies, we enable lenders to successfully originate and underwrite loans with speed and efficiency.

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