We are your reliable source for quick and easy gas station loans -
convenience c-store financing. As a leading provider of conventional and Small
Business Administration (SBA) commercial loans on
gas station / convenience c-store financing, we understand the unique problems
and aspects of obtaining a lender for this type property. That is why we are
able to place millions of dollars annually to lenders that specialize in gas
stations with or without convenience c-stores attached. We know how to package the
file to make the lender want to say yes to the loan request! Be it conventional
or government backed funding packages, we are the professional source for
packaging and funding these difficult properties.
are huge to lenders because the property could be shut down or condemned thus
eliminating all or part of the value of the collateral that secures the debt.
Inspections known as phase 1 or phase 2 environmental reports are always part of
the process on these property types. The cost of these are the borrowers
responsibility unless the seller has a recent one. While these reports can be a
little expensive, they are nearly always required and should be considered a
necessary part of funding these properties. Knowing how to navigate through the
maze of lender requirements and the pitfalls of packaging these funding requests
is paramount to a successful closing. That's where we come in. We are the pros
and typically get the lender to say yes the first time.
Nationwide, most banks
and other conventional commercial lenders will often turn down requests for
loans on convenience c-stores with gas station financing. Commercial lenders just
do not want the environmental issues associated with these properties. Usually,
the borrower's credit is good and the property is is well located and
profitable. Still, they just don't want to handle gas station c-store convenience properties. Because of this one issue, many well qualified and experienced
business people do not get the opportunity they need to purchase or refinance.
Maximum Financial has the sources and the expertise and will work with you
to close those loans for financing your gas station - convenience c-store that
other lenders will not handle.
Does using conventional commercial loans for
financing to purchase a gas station / convenience c-store make sense for you? Well
first off you would need to see if the numbers make sense. What is the purchase
price including inventory? What is the NOI or Net Operating Income? What do the
business financials look like? How many pumps are there and how many gallons of
fuel are pumped per month? A reasonably successful operation will give you at
least $80,000 gallons per month in sales and inside sales of $50,000. Fuel sales
should pay your monthly payment plus. As far as lenders for a business loan,
banks look at your experience, if you have a partner that you can trust and has
the experience that would help obtaining the approval.
There really is not a standard
down payment or minimum down payment requirement, however most lenders want to
see at least 10% cash into the transaction from the borrower. The term down payment
is more appropriate to the transaction between the seller and buyer. The lender
is looking for a maximum “loan-to-value” or LTV percentage that they are willing
to lend on. This LTV can be achieved with your equity or cash into the deal, but
it can also be achieved with subordinated or seller carry back on purchase
transactions. This is where the seller acts like a lender and holds a second
lien on the property. You make payments on the new 1st mortgage and a payment to
the seller. Typically, the maximum LTV on a new first mortgage is 75%+-. On SBA
sometimes up to 90%
Personal transportation will never go away.
Americans are addicted to their automobiles. The need to fuel and service these vehicles will never go away either. We all need a
capable and trustworthy source help us keep our cars running at a fair price and to advise us when our vehicles need attention.
That's why the need for a reliable, professional source for getting the loans
for financing a gas station with convenience c-store is so great. We look
forward to reviewing your request soon.
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