Small Business Loans for Gas Stations with Convenience Stores
The corner gas station selling soda pop and chewing gum has been a welcome sight for motorists needing to fill up with a tank of gas for more than 100 years. In the early 1980s, gas stations began to offer a wider selection of hot and cold food and beverages.
United Capital Source has funded many gas stations with convenience stores. In upstate New York, a gas station owner and operator found that his customers were frequently asking for the nearest deli. Tired of sending these hungry customers out with only a full tank of gas and an empty stomach, our client decided to remove a section of auto accessories from the inside area and install a 12-foot wide counter with an all inclusive grill.
After speaking with our finance team about the applicability of this small business loan, our client had designers prepare an internal schematic and sourced estimate costs of the grill, refrigerators, ventilation, and cooking utensils. With these estimates, our team of trained business funding professionals were able to review the forecasted cash flows together with the actual financial statements to determine small business loan eligibility.
After reviewing sales receipts, we approved a business loan against credit card sales, which let the gas station expand his convenience store offering. The funds were used to purchase the equipment needed and hire a cook to work that area. This is merely one example of thousands abouto how small business loans can help you grow your business — depending on the business and your specific needs.