The following loan criteria is based on SBA or USDA B&I Loan Criteria.
It is not all inclusive but merely meant to be used as a guideline.
All Gas Stations must include a C-Store with a minimum of 2000 Square Feet, be located in a high traffic area, have a diverse revenue stream (i.e. car wash, ATM, deli, lottery, beer/wine etc).
Canopy and Tanks should be less than 10 year old and Management should have a minimum of 3 full years (preferred 5 years) of operating a similar size store.
Minimum Loan Amount:
$350,000.00
Maximum Loan Amount:
$10,000,000.00
Lending Territory:
Nationwide
Loan Term Amortization:
Usually 20 – 25 Years
Collateral:
First position mortgage as certified by title search and title policy on property. Must have a first security interest under UCC-1 on all business assets of real estate and operating entities.
Debt Service Ratio:
Minimum DSCR of 1.25x:1.00x depending upon property type, age, physical condition, location, and competitive market position.
Loan to Value:
Up to 80% on on New Purchases and up to 65% on Refinances. Not everyone will qualify for Maximum Loan to Values.
Loan Types Offered:
SBA, USDA and Conventional Financing as well as Private Funds are available through our Lending Partners.
Appraisal:
An MAI Appraisal will be required from an Approved Appraisal Firm.
Environmental Survey:
Phase I and possibly a Phase II
Upfront Deposits:
We do not charge an Application Fee or any Fee to review a loan request for possible inclusion into any of the Loan Programs that we offer.
Alliance has a Processing Fee that is due upon your acceptance and signing of a Commercial Fee Agreement. It is only payable if your loan request actually enters into processing. The Processing Fee is based on the Loan Amount, Loan Type and a variety of other factors and ranges from $1000.00 on smaller loans to $2500.00 on larger loans.
Additionally you will be required to put up a deposit with the Investor for Third Party Reports such as Appraisals, Environmental Survey, Property Survey or other reports as the Investor may require.
Recourse:
Most loans will require all owners of 20% or more to personally guarantee the loan.
Loan Purpose:
Acceptable Loan purposes are for New Purchase, Rate and Term Refinances, Cash Out Refinances, or Construction of a New Property.
A more detailed and specific list of loan conditions will be supplied to you once an Underwriter has reviewed a Full Loan Package.
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