Gas Station, truck Stop and Convenience Store Loans on the Go!

Have you ever thought of owning a gas station or convenience store? Sounds interesting and a little exciting, right? We agree. While being approved for a loan on one of these types of business is a little more tricky than qualifying for a conventional loan, it’s not impossible.

Generally, banks do not like to deal with loans for gas station, truck stop or convenience store buys for several reasons. For starters, petroleum retail is a “cash” business and verifying cash flow is more difficult than other types of retail businesses. Also, petroleum has a perceived environmental risk, which is undesirable to banks. Then there is the issue of gasoline fuel margins, which are continually changing. All these factors and more are why banks are so quick to say no to loans for these types of businesses.

Here are a few things to consider when trying to qualify for a gas station, truck stop or convenience store loan:

1) Educate yourself. You need to know absolutely everything about these types of businesses…the good, the bad and the seemingly insignificant.

2) Find a lender who specializes in the type of loan you need and offers multiple options for financing.

3) Your lending agent should know the difference between cost of money and return on investment, not just the cheapest rates and lowest point. A well-rounded lender will be more versed in the different capital options available to you.

Here at Globenet Capital Group, we believe that loan applications for ALL types of businesses are a worthwhile investment. Our lenders and agents are ready to help you with all of your funding needs.

Call today! 877-281-0678.

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