Can Gas Stations Use SBA 504 Loans?
You only need to take a look around your local area to realize that gas stations are thriving today. In fact, the industry is at one of its highest points in history in terms of growth and profitability. Expected revenue for 2018 is $419 billion. Gas station owners can make use of SBA 504 loans to ride the wave of growth.
These loans are specifically designed for growing, healthy businesses. The funds can only be used to purchase real estate, to buy or construct buildings, or to purchase equipment. All three of those fall squarely into the most important considerations for any gas station owner – the land, the facility itself, and equipment like tanks, pumps, coolers, freezers, and more.
Note that you cannot use an SBA 504 loan for working capital, nor can you use it for equipment financing (only equipment purchasing). If you need capital, an SBA 7(a) loan might be a better fit.
We’re here to help you get the commercial financing you need. Contact SBA504.Loans today for a risk-free, no obligation consultation. Or, fill out the form below to apply with us today!