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Business owners love that Lendio helps them get funding without the headaches.
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*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.
Gas stations are ubiquitous across the country and for good reason–they are essential to our modern economic infrastructure and provide profitable business opportunities in both the smallest towns and the largest cities.
Although gas stations can be a very lucrative, recession-proof enterprise, they are also expensive to acquire, renovate, and/or expand. That’s why it’s essential to understand the different financing options available to you.
Whether you’re looking to add a location, expand your interior offerings, or better manage cash flow, gas station loans through Lendio can help. We know how the industry operates and can help you through the application and financing selection process.
These are the most popular types of funding that other gas station-based businesses qualify for through Lendio.
Access available funds whenever you need them, and only pay interest on what you draw.
Cover everyday expenses with revolving credit and earn rewards for your spending.
Access funding based on your future revenue and repay with regular payments.
Your gas station likely has an ongoing stream of revenue each and every day. If so, one financing option is revenue-based financing (also called a cash advance). You receive upfront funding that is repaid through a percentage of your daily sales.
Term loans for a gas station offer a fixed payment structure, so you know exactly how much you’ll pay and for how long. Online term loans are fast and easy to apply for.
Another financing option for gas stations and convenience stores is a line of credit. This gives you ongoing access to credit that you can tap into when you need it. As you repay your balance, your credit line is replenished to be used on other needs.
Find answers to some commonly asked questions in the gas station industry.
A gas station loan is a small business loan that can help you finance a challenge or opportunity you face in the industry. This can include temporarily increasing your cash flow to help pay unforeseen expenses, purchasing new equipment to improve an area of the business, or providing the means to support an expansion process. The options are endless.
Gas station owners can apply for multiple types of business loans to help finance their operations. Terms and repayment structures will vary based on a number of factors, such as the business loan type, your business history, credit score, and, of course, the state of the market at the time.
Securing a loan for a gas station, like any other business loan, requires meeting specific criteria set by financial institutions. These criteria help lenders assess the risk and viability of the investment. Regardless of which institution, it is proper to prepare the following information before seeking a loan:
In order to apply for business financing with Lendio, you’ll need to meet the following minimum requirements:
Acquiring a loan for a gas station can present certain challenges, mainly due to the specific nature and perceived risks associated with the industry. However, the difficulty level can vary based on several factors, ranging from the applicant’s credentials to the current state of the economy.
Gas stations are also sometimes seen as high-risk investments by traditional banks due to fluctuating oil prices, environmental concerns, and the high costs associated with property maintenance and upgrades.
However, there are steps and strategies that can enhance your chances of securing a loan. Demonstrating a well-thought-out business plan with clear market analysis, financial projections, and a robust operational strategy can significantly influence a lender’s decision. Additionally, a strong personal and business credit score, a history of positive cash flow, and a clear record of managing debts responsibly can bolster your application.
A lending marketplace like Lendio connects you with a network of lenders through a single, 15-minute application. It also provides a funding manager to support and guide you as you apply and navigate the funding process.
See what you can qualify for on the Lendio Marketplace.