Need commercial loan for Gas Station
Have a borrower that would like to pay off some personal debt and some debt that is associated with his gas station. Looking to borrow $200K and estimates that his gas station would sell for $1.5 mil if he were to sell. The land the station sits on is tax assessed for $504K. Borrower has excellent credit with an 806 credit score. Income has been down for the last couple of years due to him being a 76 station and his price for gas above the industry average. He has recently changed from 76 to Arco and sales have almost tripled. His pricing is now comparable to Costco. Is there any commercial programs out there that would look primarily at the equity in the property to secure the loan? Any help would be appreciated.
by loandude99 February 19, 2013 1:20 PM
Where is this located?
by adelphos February 19, 2013 2:17 PM
If the property is in California please call me to discuss. I'm a property lender in California.
I'm interested in gas stations in California.
Pouyan Broukhim---PB Financial Group Corp
323-935-5555 x 102 Office
866-318-4471 Direct Fax
PB Financial Group Corp 357614
Pouyan Broukhim 348736
by PBFinancial February 19, 2013 3:00 PM
The property is in Washington State.
by loandude99 February 19, 2013 3:36 PM
Shoot me an email with a little more of the details. If I can't help, then I can probably refer you to someone who can. firstname.lastname@example.org
by adelphos February 19, 2013 5:41 PM
I have local hard money guys in Washington State.
theconsultant4u atgmail dotcom
by ibeforee February 19, 2013 8:44 PM
We can get the deal done we have done over a dozen gas stations so far this year
by smartinup February 20, 2013 9:58 AM
We can provide SBA financing for Gas Stations. Have closed in the past...not a problem.
Please contact me to discuss.
Vernon L. Morrison
Lighthouse Commercial Mortgage
3380 Tremont Rd, Suite 220
Columbus, OH 43221
Direct Ph # 614-481-6075
Main Ph # 614-481-6074 x 6075
Toll Free # 888-369-6729
Fax # 614-448-3113
Nationwide Apartment and Commercial Mortgage Lender
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