Gas Station Business Funding

Fast & Easy Approval

How Gas Station Business Loans Can Help You

When you are running a gas station, it is important that you have access to capital when you need it for all the extra costs that may arise. Funding can provide you with the necessary capital to purchase new equipment, expand your operations, and cover operational costs. Additionally, it can help you manage cash flow and bridge gaps in financing. With a gas station business loan, you can take advantage of favorable terms and rates to ensure that your business remains profitable. Whether you are buying, building or simply looking to grow your gas station business, we will design a loan package that supports your business goals.

What Qualifications are Needed to Get a Business Loan for a Gas Station?

 In order to qualify for a gas station business loan, you will need to have a good credit score and a solid business plan. You will also need to provide financial statements, tax returns, and other documents that demonstrate the financial health of your business. Additionally, lenders may require collateral in the form of real estate or other assets.

Best Working Capital Loan for Gas Stations

Merchant Cash Advance or Business Line of Credit

Merchant Cash Advance or Business Line of Credit

Both of these loan types can provide quick access to funds and flexible repayment terms. Additionally, some lenders may offer specialized loans specifically designed for gas stations.

Best SBA Loan Alternative for Gas Stations

Merchant Cash Advance

Merchant Cash Advance

They provide quick access to capital, with funds typically available within a few days. They are also easier to qualify for than traditional loans, as they don't require collateral or a personal guarantee, and repayment is based on a percentage of your daily credit card sales, so you only pay when you make money.

Best Gas Station Loan for Supplemental Purchases

Personal Loan From a Bank or Credit Union

Personal Loan

A good credit scores can qualify for a personal loan, which may offer lower interest rates than other types of loans. Lower credit scores may need to look into secured loans, such as a title loan or payday loan, which typically have higher interest rates.

Best Gas Station Loan for Everyday Expenses

Business Credit Card

Business Credit Card

Credit cards are convenient and they also offer rewards and points that can be used for discounts on future purchases. Additionally, many credit cards offer 0% interest for a certain period of time, which can help you save money on interest payments.

Best Loan for Gas Stations to Finance Equipment

Equipment Financing

Equipment Financing

Designed to help businesses purchase new or used equipment, such as pumps, tanks, and other gas station equipment, they typically have lower interest rates than traditional business loans and can be tailored to fit your specific needs.

Best Gas Station Loan for Cash Flow

Business Line of Credit

Business Line of Credit

These provide access to funds when you need them, and you only pay interest on the amount you use. This type of loan is ideal for businesses that need to manage their cash flow, as it allows them to access funds quickly and easily without having to apply for a new loan each time they need money.

Ready to Apply?

Filthy Rich Idea makes it easy to get a business loan for your gas station business. Apply online and we will give you a decision within minutes. One of our Loan Specialists will tailor a loan package for your business needs. As soon as we receive the application and documents, your dedicated Funding Advisor will be in touch to discuss the application and next steps. Approval typically takes 24-48 hours, and funds can be deposited into your account the following business day. It’s that simple!

FAQs

What information and documents do I need to apply for funding?

Our lending partners will need 3 months of bank statements, the government IDs of all applicants, 1 or 2 years of business tax documents, business P&L and balance sheets, business licenses and formation documents, and a business EIN.

What is APR?

APR stands for Annual Percentage Rate and is a measure of the cost of borrowing money. It is the interest rate expressed as a yearly rate, including fees and costs associated with the loan. It's a good way to gauge the overall cost of your loan and your planned repayment schedule.

How long does it take to get the money once my business is approved?

Once approved, transfer times vary depending on the lender, but it is possible to receive your capital in as little as 72 hours after approval. Lines of credit, on the other hand, may be used immediately upon receiving approval in some cases.

How do I pay back the funding amount?

Our lenders offer secure digital payment portals so that you can make your repayments on time and without penalty. You may be able to change due dates and other important information.

How To Best Prepare for a Business Loan

Determine the amount of money you will request—and do not request an excessive amount.

Although you may have the option of a small business loan, it is important to only request the amount of money that you need and can afford to pay back. This will demonstrate to your lender that you are financially responsible and increase your chances of approval.

Understand the limitations and costs of your loan.

Before committing to a loan, be sure to consider the speed, flexibility, and cost. Some loans are more or less flexible while others charge for speed. Understand the APR and other associated fees and costs so you can make an informed decision.

Avoid taking out multiple loans.

If you already have a loan, it is not advisable to take out another one. This is calledstacking loans and is generally not allowed, except in certain cases (e.g. having a business line of credit with a term loan). If you stack loans without the permission of your original lender, you could be in breach of your loan agreement and default on your first loan. Before taking on another loan, check with your lender to make sure it is allowed.

Ready to Apply?