Getting financing for Gas Stations can be difficult, but getting a Business Cash Advance loan can be easy
Typically you will find getting traditional financing for gas stations to be a challenge. If you have less than perfect credit, or not enough equity you can pretty much forget about finding traditional financing for a gas station. We all know how the banks have tightened the lending guidelines in the residential lending side of things, but that also applies to the commercial lending side as well. Even if you have perfect credit, and the equity required, the time frame to get the funds your business needs in a timely manner might discourage you from using a bank for your next business loan.
Gas Stations do have other financing solutions if they need working capital
What if I can show you how to get a Business Cash Advance for your gas station. With our Business Cash Advance program, there is no collateral required. So regardless if you have the equity or bad credit, we can still find a way to get you financing! First Capital Business Finance calculates your ability to repay the loan based on your credit card sales that is generated through your business. With our cash advance program, there is no fixed scheduled payment. What that means, is we base your payments only when you make money. So if your gas station had a slow week, you will not have to stress over a large set payment to make. The payment will be based off a percentage of your gross sales from your credit card transactions. The proceeds from the funding can be used for any purpose, remodeling, upgrading pumps or equipment, buying inventory, just about anything. Because gas stations have a lot of cash transactions, this may be difficult for the business owner to prove income cash flow. As mentioned before, our company offers a wide variety of financial programs.
There are different financing programs for small businesses
If our Business Cash Advance program seems like it might not fit your needs, we also offer our Non-traditional Small Business Loans which has different requirements and might be more suitable for your situation. Our Small Business Loans do not require you to have credit card processing receipts, but they will look at your total gross sales from all transactions. However if you process credit cards our cash advance program will look at your Mastercard/VISA transactions from the business. So whether the business income is coming from cash, credit card transactions, or checks, we have a loan program for your business and we offer very flexible underwriting guidelines. Gas stations also have perceived environmental risks; we don’t consider those risks when underwriting your loan application. If your business is producing income that’s what we look at most importantly. We provide a simple and fast approval process, and with only a fraction of paperwork compared to your other lending institutions.
If you are interested in hearing more about our loan programs, please feel free to call First Capital Business Finance at 888-565-6692 and one of our loan experts will be happy to answer any of your questions.