Gas station financing is available for -Branded stations -Non branded stations -Full service stations
It is in the best interest for gas station owners to contact a qualified lender who understands the business and one who works with lenders who also understand the gas station lending business. If you're in the market to buy a gas station, convenience store or truck stop you are probably looking forgas station financing. Time, then, to find some pain relievers. So say you finally find a gas station you want to buy. Finding the gas station financing is like trying to find a hen's tooth. For years trying to traditionally finance these kinds of commercial properties or businesses has been a major challenge. Banks really do not like to do this type of financing for various reasons. Because of the depository relationship you would have with your local bank you MAY have a better deal, but, NEWSFLASH, unless you talk to the right lenders they will probably not do your deal.
Oh yeah, how about the price of fuel these days! With decaying gallonage and pool margins, you had better be dealing with someone who knows the market! Generally banks do not like to do gas station financing for the following reasons:
* Verifying cash flow for commercial buildings like apartments of offices is much easier than a petrolium retail business which is a "cash business". * If the gas station is forclosed on, it poses a bigger problem for lenders. Many other kinds of income properties will still produce rents until the suitable buyer comes along. If a gas station or convenience store defaults, the bank does not step in and run the business. Have you read the paper lately and looked at the price of a barrel of oil?
Are you then surprised when youn get a "no" from your bank when asking about gas station financing.
Sounds discouraging for the average borrower, but for those with the right connections, business opportunities are right around the corner. Take a chance and step outside the box.
Gas station financing is available for
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