Gas Station
Loan Guidelines:
Initial
Gas Station Loan Documentation Requirements
~
The
most
important thing to understand is
that the loan approval process is 100%
dependant on "your" documentation.
(1) To insure a smooth
transaction, it is imperative that you have all of your documents
gathered prior to your initial loan application.
(2) Following is a list
of all the initial documents you will need. Please feel free to print this
screen and use this as a checklist. Print this page:
Click
Here
First Step:
Loan
amount requested.
Executive summary - Business plan/if loan is for Construction Upgrades.
Loan application (Use SBA Business Loan Application Form)
Click Here:
For Loan Application Form
OR - (Information Located on web site www.pertroequities.com/pe_forms_library.htm)
Copy of Borrower's Credit Report Borrower's may pull their own credit report
and submit with Loan
Application package. Report must show all three
bureau scores & report must be updated prior to closing.
Plus a completed (Three Year to Present Date) Annual Volume Margin History Report - Document may be down
loaded
Click
Here:
FORM - VOLUME & MARGIN HISTORY
Fuel Supplier Agreement & Secondary Financing
Agreement - (fuel supplier/seller) If Applicable.
Insurance Review (1) covering underground storgage tanks and leakage
coverage (2) Installer
Certification records. (3) Owner/Operator must show and maintain evidence of
financial responsibility in order to provide for the costs of corrective actions
directly related to tank and line
failure.
Second Step:
Letter of Engagement and Fee agreement
Appraisal report (older report with this submission, OK - updated prior to
closing) Complete with Photos.
Site Survey Report/MPSI most Current.
Borrower's Statement addressing negative Items on credit report, if
applicable.
Last three Years Business and Personal Tax Returns.
2010 Personal Financial Statement and Signed
Within the past 30 days (For
all who own a vested interest of 20% or more)
2011 Year to date financials (Seller, if purchase Borrower, if refinance)
Last three years FUEL Purchase Receipts (Mandatory)
Franchise agreement (copy, if applicable)
Phase 1/Phase 2 Report (Check with seller or fuel supplier)
Make and Model of the station's ATG System and
who has the responsibility for overseeing the ATG system.
(Required
prior to closing of a financing escrow and/or
sale escrow.)
Accounts receivable/Accounts payable - (AR/AP) Schedules
Insurance: Copy of latest, property and business insurance, with insurance agents name,
address and phone number.
(Please
review insurances requirements as stated under separate insurance coverage
agreements.)
(Contract
Dealer Gasoline Agreement) and/or (Gasoline Retailer Supply Contract) etc.
Copy of Purchase Agreement Contract and Escrow Instruction
include escrow
company name,
escrow officers name, address and phone number. If applicable
Copy of ground lease agreement, if applicable
Square Footage of site.
Type of Conversion
Drive access to site. How many?
Diesel Fuel Y/N ... CNG or LNG Y/N
* Copies of all City and State Gas Station Compliance
documents
(3) To pre-qualify for financing, provide the above required
information and e-mail or call:
Petroequities
33 Brookline Street, Aliso Viejo, CA 92656
e-mail: peterp@petroequities.com ~
Phone: Peter Papke (714) 287-1000 -
DRE: # 01118098
Rick Reza (714) 713-8618 - DRE # 00970335
Return
To Homepage