Financing for Gas Station can be a bit of a challenge but the benefits of refinancing outweigh the challenges by far. Whether looking for a Gas Station Purchase Loan or Gas Station Refinance, there are programs available for both. In some cases, existing owners can update their pumps; add on to their convenience stores, or adding a car wash. Both government-backed and conventional loans are great loan options for gas stations.
Appraisals and environmental inspections can be a challenge. There are some SBA lenders who have decided not to lend due to the headaches that can occur but Dividend America has partnered with lenders all aver the US who actually do want to lend money specifically on gas station purchases and gas station refinances. Financing for gas stations is a “case by case” deal and can be accomplished successfully in many big cities like Atlanta, GA or Charlotte, NC.
The financials on the gas station are incredibly important. Owners should be prepared to prove cash flows with 2 years of financials from a reputable accounting source. Real estate is a must as well. Many owners are finding it is easier to complete a gas station purchase when they include the building and the land in the financing for the gas station.
Dividend America can assist you with your Gas Station financing in Atlanta, GA and Charlotte, NC or any other state in the US. We are a direct and correspondent lender who offers low rates – up to 90% LTV - Fixed rates 5-10 years- RE up to 25 year amortization – low and flexible pre payment penalties – No upfront fees. Refinancing gas stations with cash out or refinancing gas station loans for lower rates.