Purchase, Refinance, Cash-Out Refinance, Construction Gas Station Loans for Branded and Independent Stations that pump 750,000+ gallons of fuel per year preferred but not “etched in stone”
Purchase / Refinance Loan Amount Range: $250,000 to $100,000,000+
Construction Loan minimum: $1,000,000
Interest Rates from 4.5% depending on the financial strength of the borrower and the station – higher interest rates during the Construction period. See what rate & terms you QUALIFY for?
Loan-To-Value: Up to 85% LTV
Construction Loans: 65% of LTC (Loan to Cost) of Appraised Completion Value
Seller seconds of 5%~10% reviewed on a per loan basis
Minimum FICO score: NONE (case-by-case)
Minimum Debt Service Coverage Ratio: 1.20 on existing stations
Construction Loans are interest-only and roll into Perm Loan which saves you time and money
Up to 25-year Term with 25-year Amortization; 5/3/1 Pre-Pay
Collateral: land, building, equipment; business-only considered
For Gas Station Loans, a minimum of 2 years in the Business is required
Pre-Approvals within 6~12 business days after receiving the required data; Term Sheet/Approval within 10~15 days after all Underwriting Requirements are met
Close in 4~5 weeks after Underwriting Approval depending on response times from the borrower, seller, and third party functions such as the appraisal, environmental report, legal and title company work. Add at least 4-6 weeks for Construction especially if State and Local permits have not been done and included in the data package
Commercial Hard Money Loans at 65% max LTV; 15-year fixed interest-only @ case-by-case interest rates
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