Top SBA Lenders for Gas Stations & Convenience Stores

Gas stations and convenience stores require significant capital for purchasing property, setting up new locations, upgrading existing facilities, or acquiring an established business. SBA loans, particularly the SBA 7(a) loan, are an excellent option for financing these needs due to their favorable terms, lower down payments, and flexibility. Below, we list the top SBA lenders for gas stations and convenience stores and provide insights into the best loan options available.

Top Gas Station Lenders

Rank	SBA Lender	# of Loans	Avg Loan	Avg Rate
1	Celtic Bank	31	$2,201,513	10.7%
2	Readycap Lending, LLC	19	$2,516,053	10.1%
3	Wallis Bank	19	$1,931,884	10.0%
4	Open Bank	14	$1,721,964	9.9%
5	Enterprise Bank & Trust	10	$1,897,080	9.5%
6	Huntington Bank	8	$218,075	10.7%
7	Byline Bank	8	$2,166,413	10.9%
8	Citizens Bank	8	$1,371,613	10.3%
9	KeyBank	7	$49,286	13.6%
10	BayFirst National Bank	7	$147,929	13.3%

Why SBA Loans Are Perfect for Gas Stations & Convenience Stores

The gas station and convenience store industry requires substantial investments in real estate, equipment, and operational costs to ensure smooth operations and profitability. SBA loans are an excellent way for owners to access the capital they need with favorable terms.

The SBA 7(a) loan is particularly well-suited for gas stations and convenience stores due to its flexibility. The SBA 7(a) loan can be used to finance equipment purchases, renovations, working capital, real estate, and even business acquisitions.

Best SBA Loans for Gas Stations & Convenience Stores

1. SBA 7(a) Loans

The SBA 7(a) loan is the most popular option for gas station and convenience store owners due to its flexibility. It provides funding that can be used for a variety of purposes, including buying equipment, acquiring real estate, expanding an existing location, or acquiring another business.

Benefits of the SBA 7(a) Loan for Gas Stations & Convenience Stores

• Flexible Use of Funds: Can be used for real estate, equipment, working capital, renovations, and business acquisitions.
• High Loan Amounts: Up to $5 million, suitable for medium to large-scale investments.
• Long Repayment Terms: Up to 25 years for real estate, and up to 10 years for other purposes, providing manageable monthly payments.

2. SBA Express Loans

SBA Express Loans are part of the broader 7(a) loan program but offer faster approval times. These loans can provide up to $500,000, making them ideal for smaller or urgent funding needs, such as equipment purchases or working capital.

Key Features of SBA Express Loans

• Fast Approval: Typically processed faster than standard SBA loans.
• Maximum Loan Amount: Up to $500,000.
• Flexible Terms: Suitable for purchasing small equipment or covering unexpected expenses.

Best SBA Lenders for Gas Station & Convenience Store Working Capital

Working capital is essential for managing the day-to-day operations of a gas station or convenience store, covering expenses such as payroll, inventory, and utilities. Celtic Bank and Readycap Lending, LLC are highly recommended for their experience with SBA loans focused on working capital needs in the industry.

Best SBA Lenders for Gas Station & Convenience Store Real Estate Purchases

If you’re planning to purchase or expand a gas station or convenience store, Wallis Bank and Open Bank are among the top lenders for real estate financing. These lenders provide SBA 7(a) loans, which are ideal for acquiring new properties or undertaking major renovations.

Best SBA Lenders for Gas Station & Convenience Store Business Acquisition

Acquiring an existing gas station or convenience store can be a great way to expand your business quickly. Enterprise Bank & Trust and Byline Bank have strong track records of providing SBA 7(a) loans for business acquisitions, ma