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Almost all of the gas stations in the United States are owned and operated by independent business owners who set their own price. According to the NACS, only .4% of gas stations in the country are company-owned and operated by the five major oil corporations.
Obtaining financing for this business can be complicated but fortunately, SBA gas station financing is available for business owners who want to acquire a new or expand an existing gas station from some of the largest SBA lenders.
The SBA 7(a) loan can cover the costs of new construction of a gas station, refinancing of an existing loan or for acquiring an existing gas station. We’ve put together a list of the top SBA lenders that provide SBA gas station financing:
| Rank | Bank | City | State | # of Loans | Avg Loan $ | Avg Interest |
|---|---|---|---|---|---|---|
| 1 | Celtic Bank | Salt Lake City | UT | 89 | $2,107,536 | 5.7% |
| 2 | First IC Bank | Doraville | GA | 85 | $1,445,224 | 4.5% |
| 3 | Wallis Bank | Wallis | TX | 72 | $1,849,519 | 5.0% |
| 4 | Readycap Lending, LLC | Berkeley Heights | NJ | 61 | $1,769,823 | 5.1% |
| 5 | Commonwealth Business Bank | Los Angeles | CA | 59 | $1,684,102 | 4.9% |
| 6 | Byline Bank | Chicago | IL | 51 | $1,238,212 | 5.9% |
| 7 | Open Bank | Los Angeles | CA | 48 | $1,844,448 | 4.9% |
| 8 | Pacific City Bank | Los Angeles | CA | 40 | $2,102,300 | 4.7% |
| 9 | Citizens Bank | Elizabethton | TN | 38 | $1,280,516 | 5.3% |
| 10 | Enterprise Bank & Trust | Clayton | MO | 28 | $1,463,404 | 5.3% |