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uilee
45 Posts |
 Posted - 08/07/2008 : 10:40:25 AM
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Any Commercial lender who specializes in gas station loan, please email me your contact.
uilee1976@yahoo.com
Thank you. |
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brad.easter
696 Posts |
Posted - 08/07/2008 : 10:46:26 AM
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The gas station has become the pariah loan of the commercial industry. Not only are there extreme environmental concerns but cash flows have become more squeezed with the current price of gas.
Good luck, I wish I could point you in the right direction. |
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uilee
45 Posts |
Posted - 08/07/2008 : 11:03:23 AM
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Thank you Brad.
That's why I'm having a such a hard time finding a lender.
Thanks again. |
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lenderben
1081 Posts |
Posted - 08/07/2008 : 11:39:31 AM
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If your borrower is considering hard money, please let me know.
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JOHNA_BAYSTREET
217 Posts |
Posted - 08/07/2008 : 1:10:18 PM
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| I have a hard money guy that lends up to 80% LTv and in all 50 states. let me know if you are interested. johna@ggfunding.com or 408.510.3420 ext 426 |
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dkendall1979
10288 Posts |
Posted - 08/07/2008 : 1:14:13 PM
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Are you still going on with this? Give it up already.
OP - Tony Peric aka Mr. Lend (Placer Funding) is pretty much the authority in what you're looking for. If he tears it apart, 1. he will do it within minutes of looking at the deal and 2. you should cease looking for financing on it.
Good luck with your project.
quote:
Originally posted by JOHNA_BAYSTREET
I have a hard money guy that lends up to 80% LTv and in all 50 states. let me know if you are interested. johna@ggfunding.com or 408.510.3420 ext 426
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CoolMtgGuy
3710 Posts |
Posted - 08/07/2008 : 2:04:02 PM
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A friend of mine is closing on the purchase of a gas station business, combined with a food franchise as well as the standard candy/coffee stuff and it is being financed by a local lender. I could not find him a lender so he walked into his local lender and the deal is closing 10 days from now. You may not be able to broker a deal but the buyer may be able to get it done through his own bank.
quote:
Originally posted by uilee
Any Commercial lender who specializes in gas station loan, please email me your contact.
uilee1976@yahoo.com
Thank you.
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Scott Appleg8
57 Posts |
Posted - 08/07/2008 : 3:11:18 PM
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We are still do gas stations nationwide.
Please contact me with these deals. I would welcome the opportunity to help you.
Scott Applegate
Unity Bank
614-975-8478
scott.applegate@unitybank.com |
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PinnaclePeters
1116 Posts |
Posted - 08/07/2008 : 3:19:26 PM
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SBA 7a might be an option.
What credit scores?
Experience w/ Gas Stations?
What LTV are you looking for?
Any other assets that can be collateralized? Any equity in any real-estate they own? Stocks/CDs/Money Markets they can pledge?
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aeastburn
281 Posts |
Posted - 08/07/2008 : 3:37:15 PM
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I've been getting this email almost everyday. Maybe it will help.
Seren Funding Newsletter Week 1, August 2008Commercial Mortgage Lender We Can Now Fund Gas Station Properties Marketing Tips Blog: http://serenfunding.tripod.com/ (updated 7/29/2008) Click here for Gas Station Mortgage Info Sheet Click here for Gas Station Company Information Application Click here for Auto Repair (with no gas) Mortgage Info Sheet Click here for Restaurant Mortgage Info Sheet Click here for Mixed Use/Commercial Rent Roll Form Website: http://www.serenfunding.com/ No Construction. No Land. No Farms. No Churches. Inquiries: lender@serenfunding.com Tel: 800.961.9486 Fax: 516.977.1829 We Now Have a Gas Station Lending Program (Owner Operators Only)Purchase or Refinance. We Can Refinance an Existing SBA LoanReal Estate Deals only: Stations with C-Store or Repair Shop preferred if unbranded.Full Documentation Only: 2005, 2006, 2007 Federal Tax Returns Required.Loan Size: $200,000 to $2,000,000Rate: Prime + 2.75Terms: 15/20/25 Years No Balloons-Full AmortizationFICO: As Low as 550LTV Maximum 80%Notes: 2 of 3 Should be strong: Credit, Equity, Debt Service Borrowers are not required to show profits on their tax returns. Tax returns for documentation purposes, income not used in qualification process. Gas Station Mortgage Initial Submission Checklist Click here for Gas Station Mortgage Info Sheet
Complete 1003 Application
Company Information Application (click here to get a copy)
Signed Borrower Authorization (click here to get a copy)
Color Photos (Interior, Exterior, Street)
2005/2006/2007 Federal Tax Returns of Business.
If purchase, complete contract
P&L for Jan-June 2008
Fuel Supply Agreement (if applicable)
Send documents to serenfunding@optonline.net or call and we'll send you an upload link to our server. Stated Mortgage Automotive Repair Properties Without Gas Tanks (Owner Occupied only) Credit: Minimum Mid FICO: 680 (65% LTV) Maximum LTV 70% with 720 FICO $750,000 Maximum Commercial Mortgage No Construction. No Land. No Farms. No Churches. No Residential Seren Funding Corp Tel: 800.961.9486E-mail: jeff@serenfunding.com |
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ComLender
1266 Posts |
Posted - 08/07/2008 : 4:27:11 PM
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| We do gas purchase deals. |
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