Gas Station Lenders
Does anyone know where to get financing for a gas station? I've been looking around and it is all either non-existent or SBA loans. Has anyone here bought one before? 
[{"id": "d288uw9", "text": "They're mostly SBA loans because the purchase price usually includes more than just the real estate. You have the contracts with the fuel provider (BP, Mobil, etc.), then there's the ongoing business. Prices for gas stations are usually based on a gross profit multiplier, not $/sf of land or building. The real estate is obviously a large component of the value, but not all of it, and so you usually can't just get a conventional mortgage. I know some lenders finance them as real estate deals, but the national banks won't. \n\nIf you can't get an SBA loan, I'd try a community bank rather than Chase, B of A, Wells Fargo. \n\nHope that helps. ", "replies": [{"id": "d28w5wu", "text": "some regionals &amp; super regionals will dip their toes into the space from time to time as well. They might do the deal through an SBA program though.", "replies": [], "depth": 2}], "depth": 1}, {"id": "d28b1nl", "text": "If you're interested I know a SBA 504 lender. PM me for the contact. ", "replies": [], "depth": 1}, {"id": "d28bf53", "text": "Most lenders won't touch them due to the risk of ruinous environmental contamination and rampant income/sales tax fraud.  You'll have to go with an adventurous community bank or a hard money lender.  Both will require you to pay for the appraisal and environmental reports out of pocket with no guarantee that the financing will be approved.   ", "replies": [], "depth": 1}, {"id": "d290z81", "text": "I have a lender for gas stations. PM me.", "replies": [], "depth": 1}, {"id": "d33j5n6", "text": "Yes, check out www.interactiveshares.com ", "replies": [], "depth": 1}]