Full Version: gas station c-store business only loan
I am in need of a lender who will finance small gas station business only loand, I have (1) at 360K PP, and (1) at 425K PP, both ltv @ 75%. Can anyone help me please. I do not want to have the larger loans fall to the way side cuase I cant get the small ones done.
Without the real estate, this loan becomes unattractive to most of the visitors of this website. The fact is most everyone here is a commercial real estate loan broker with a couple of true lenders thrown in.
Your best bet would be a commercial bank, which would not be thrilled at doing the deal, but might be convinced with a government guarantee. {think SBA}. Of course, the numbers would have to make sense.
Good luck
Your best bet would be a commercial bank, which would not be thrilled at doing the deal, but might be convinced with a government guarantee. {think SBA}. Of course, the numbers would have to make sense.
Good luck
SBA loans is optimal for a Gas station SBA loan. Gas stations are getting tougher and tought to finance. Best bet is the sba angle and some of the various banks they work with. Private money is also available but most private investors are very picky and loan is expensive.
YOU CAN RECIEVE MANY KINDS OF BUSINESS LOANS !! Most loan brokers specialize in lending based on realestate and will try to convince you to apply for a realestate based loan. These guys are basicly working as mortgage brokers. It is much harder to be a business loan broker because of the extensive knowledge needed in financial leverage, client base network needed, and knowledge of business lenders and lending capabilities. You need to work with someone like myself who specializes in business lending.
In fact, there are several kinds of lending you will be able to reach for. And there are plenty of BUSINESS ONLY lenders that I work with and can shop for you.
In fact, there are several kinds of lending you will be able to reach for. And there are plenty of BUSINESS ONLY lenders that I work with and can shop for you.
One more comment....
As for the people who also tell you to ask the SBA.... The SBA does NOT lend directly. They will look at your information...... probably talky talky talky a whole lot, and if you are lucky approve you with a SBA Approval. That will then allow you greater acceptance power at a bank for a loan... THATS IT. Most true business lenders have better lending vehicles and more depth than this option.
FYI.... did you also know that SBA offices are often NOT OWNED BY THE SBA!! They are actually farmed out to outsiders who refer you to a lending service. Obviously the lending service they refer you to OWNS THAT "SBA" branch office.
I know this from personal experience. I went to such an "SBA" office and told them that I wanted to work with business loans. You should have seen the look on the agents face!! She basicly took me aside and told me how the offices are not owned by the SBA and that the loans are referred to a lending company that actually "sponsors" and owns the office.
The mortgage brokers on this site did not know about that..... now did they?
New Business Loans, Existing Business Loans, Business Expansion, Business Construction, Business Investment, Businesses for Sale, Business Consulting.
As for the people who also tell you to ask the SBA.... The SBA does NOT lend directly. They will look at your information...... probably talky talky talky a whole lot, and if you are lucky approve you with a SBA Approval. That will then allow you greater acceptance power at a bank for a loan... THATS IT. Most true business lenders have better lending vehicles and more depth than this option.
FYI.... did you also know that SBA offices are often NOT OWNED BY THE SBA!! They are actually farmed out to outsiders who refer you to a lending service. Obviously the lending service they refer you to OWNS THAT "SBA" branch office.
I know this from personal experience. I went to such an "SBA" office and told them that I wanted to work with business loans. You should have seen the look on the agents face!! She basicly took me aside and told me how the offices are not owned by the SBA and that the loans are referred to a lending company that actually "sponsors" and owns the office.
The mortgage brokers on this site did not know about that..... now did they?
New Business Loans, Existing Business Loans, Business Expansion, Business Construction, Business Investment, Businesses for Sale, Business Consulting.
QUOTE(mhullinger @ Sep 16 2005, 01:27 PM)
I am in need of a lender who will finance small gas station business only loand, I have (1) at 360K PP, and (1) at 425K PP, both ltv @ 75%. Can anyone help me please. I do not want to have the larger loans fall to the way side cuase I cant get the small ones done.
An SBA loan would be perfect for this. If this is a purchase, the max term of the loan would be 10 years fully amortizing. If this is to finance working capital or inventory, it will be a 7 year fully amortizing loan. For purchases, SBA lenders will expect 25%-30% down. Since collateral is weak in this scenario, lenders will look for cross collateralization. Let me know if you have any questions.
QUOTE(AdvancedBusinessDevelopment @ Dec 5 2005, 09:37 PM)
One more comment....
As for the people who also tell you to ask the SBA.... The SBA does NOT lend directly. They will look at your information...... probably talky talky talky a whole lot, and if you are lucky approve you with a SBA Approval. That will then allow you greater acceptance power at a bank for a loan... THATS IT. Most true business lenders have better lending vehicles and more depth than this option.
FYI.... did you also know that SBA offices are often NOT OWNED BY THE SBA!! They are actually farmed out to outsiders who refer you to a lending service. Obviously the lending service they refer you to OWNS THAT "SBA" branch office.
I know this from personal experience. I went to such an "SBA" office and told them that I wanted to work with business loans. You should have seen the look on the agents face!! She basicly took me aside and told me how the offices are not owned by the SBA and that the loans are referred to a lending company that actually "sponsors" and owns the office.
The mortgage brokers on this site did not know about that..... now did they?
New Business Loans, Existing Business Loans, Business Expansion, Business Construction, Business Investment, Businesses for Sale, Business Consulting.
As for the people who also tell you to ask the SBA.... The SBA does NOT lend directly. They will look at your information...... probably talky talky talky a whole lot, and if you are lucky approve you with a SBA Approval. That will then allow you greater acceptance power at a bank for a loan... THATS IT. Most true business lenders have better lending vehicles and more depth than this option.
FYI.... did you also know that SBA offices are often NOT OWNED BY THE SBA!! They are actually farmed out to outsiders who refer you to a lending service. Obviously the lending service they refer you to OWNS THAT "SBA" branch office.
I know this from personal experience. I went to such an "SBA" office and told them that I wanted to work with business loans. You should have seen the look on the agents face!! She basicly took me aside and told me how the offices are not owned by the SBA and that the loans are referred to a lending company that actually "sponsors" and owns the office.
The mortgage brokers on this site did not know about that..... now did they?
New Business Loans, Existing Business Loans, Business Expansion, Business Construction, Business Investment, Businesses for Sale, Business Consulting.
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