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LOANGUYNYC
105 Posts |
 Posted - 05/19/2008 : 08:45:58 AM
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Hi All,
I have a client in Virginia who owns a few gas stations...He wants to refinance one of them to cash out an buy another one...
VA
Gas Station
Refinance Cashout
0 x 30
80 LTV
750 K Loan amount
700 Fico
To be honest, I haven't done a commercial deal in the 5 years I've been in this business so I need to know what I need to collect from the borrower in order to get a prequalification to see if this is a deal or not...please reply if you can help get a loan like this done along with the purchase of another gas station after this refi is completed. Thanks in advance!!
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brad.easter
695 Posts |
Posted - 05/19/2008 : 08:56:26 AM
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Need more information about the property and age of tanks, etc.
Call me on this. I may be able to help. |
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LOANGUYNYC
105 Posts |
Posted - 05/19/2008 : 09:01:00 AM
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quote:
Originally posted by brad.easter
Need more information about the property and age of tanks, etc.
Call me on this. I may be able to help.
Thanks Brad will be in touch shortly |
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EMScommercial
5138 Posts |
Posted - 05/19/2008 : 09:32:37 AM
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| Unless you go SBA.... the typical market max for a gas station in today's market is 65%ltv.... |
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service1
292 Posts |
Posted - 05/19/2008 : 10:52:59 AM
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Paperwork will increase for SBA gas station loans for any approvals granted after June 15th, so window of opportunity is shrinking.
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bizlender
16 Posts |
Posted - 05/19/2008 : 2:49:06 PM
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| I can help you with this scenario at 80% LTV (or possibly higher). Business Lenders is owned and financed by Merrill Lynch. We have preferred status with the SBA which greatly streamlines the loan process. If we submit the loan for SBA approval by June 15th we can avoid the extra SBA documentation. We can deliver a loan commitment within 3 business days from full package submission. I have extensive experience financing gas stations. Please call me to discuss this loan. |
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chrisjonesloans
166 Posts |
Posted - 05/19/2008 : 4:11:14 PM
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| Does anyone know of a hard money lender for gas stations? I have not run across one. |
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swmsn
4205 Posts |
Posted - 05/19/2008 : 6:13:17 PM
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I have one fund that will do a high ltv ( 75%-80% ) on a Gas Station. The key other than clean environmental is cash flow. You need to get the financials on the borrower and the property to find the DSCR.
How much Cash is coming out? Does the borrower have a Lender for the 2nd Gas Station? How is the borrowers PFS and collateral?
Email me and I'll give you a list of docs needed to review. SBA has tightened up on Gas Stations, so if you can't go the fund route you may need to leverage the current station plus other assets. |
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stuartg_
57 Posts |
Posted - 05/20/2008 : 12:18:30 PM
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The parameters of this deal seem viable.
Here is our focus:
A/R loans
Factoring
Machinery & Equipment
Sale-leasebacks
Business Acquisitions
Any Income producing properties (acquisitions and refinancing)
We also participate in the following types of financing domestically and internationally:
Bridge Loans, Corporate Restructuring, Corporate Working Capital, Import-Export, Intermediate Term Lending, Inventory, Leasing, Leveraged Buyouts, Management Buyouts, Mezzanine, Participations, Recapitalizations, Refinancing, Tax Exempt
Real Estate-
Acquisitions and Development (income-producing):
Apartments, hotels, offices, agricultural, industrial, multi-use
Up to 85% LTV
Mergers and Acquisitions (business-related)-
Up to 90% LTV
Size- $1-500M
Please send me basic info such as summary, use of funds, financials on project and buyer and I should be able to give you a prompt answer.
Very Best,
Stuart G Lewis
Managing Director
Brinkabar, Inc.
9595 Wilshire Blvd., Suite 900
Beverly Hills, CA 90212
310-300-8463 Tel
310-496-0588 Fax
slewis@brinkabar.com
www.brinkabar.com
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EMScommercial
5138 Posts |
Posted - 05/20/2008 : 12:24:55 PM
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most gas station loans would be considered basically hard money because they are pretty expensive and the ltv is so low....
like i said earlier.... it's either sba.... or maxing out at 65%.... that's what you are facing with a gas station loan.... |
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