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How to Get loan for Conv Store Gas purchase with property?

I have 150k and thinking of buying Conv. Store / Gas Station with Property which will be in range of 1 to 1.5 million. With 200k+ Cash Flow. I have full time job and no experience running business. Is it possible to get financing for rest, or should i get just business on lease?

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Answers (2)
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Corporate Financiers
President

I have lent to several gas station / c-stores. Even with higher government guaranty's (90%) on SBA, banks still won't lend more than 65% LTV max on real estate (conventional loans = lower LTV). Lease is more likely and this will require an SBA loan.

I arrange financing for businesses nationwide. Importantly, I am an advisor first and intermediary 2nd. I offer guidance through the entire loan process. Let me know if I can be of assistance. I am an experienced fortune 100 banker (merrill lynch) with an accounting background (U. of Michigan and Northwestern).No obligation and no cost to the borrower.

Jul 28, 2010
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R A

It may be possible to get a loan for the rest but it depends on what the property value is. Lenders will usually be willing to lend you a percentage of what the property is worth. You would need an appraisal to get a loan for that. If you decide to invest your money instead, please e-mail me at rebecce_acosta23@yahoo.com. I can offer you $ 4,500 a month for an investment of $ 150,000.

Jun 20, 2010