Auto Shops Gas Convenience
Gas Stations C-Store and Auto Body, Service and Repair Shops
We offer financing loans for gas stations, c-store and auto service repair and auto body shops and other commercial properties across the country. Whether you are an owner-operator of a single gas station or auto repair service or body shop or own multiple facilities, we offer competitive terms and low interest rates. Gas stations and auto repair service and body shop loans for financing acquisition or refinances are easy. You have the ability to select from a variety of rates and terms for your businesses financial debt structure. We can arrange lenders for up to 90% LTV on SBA of the purchase price or up to 85% of real estate value for conventional refinancing.
Automotive fuel and service technicians will be in demand forever. Personal transportation will never go away and the need to maintain and service these vehicles will never go away. We all need a capable and trustworthy automotive technician to help us keep our cars well maintained at a fair price and to advise us when our vehicles need attention.
Financing gas station c-store and auto body repair shop loans:
Most banks and other conventional lending sources all over the country often turn down small amount loan requests for these property types. Many times the borrower’s credit is good and the property is sound and well-occupied. They just don’t want to handle small amounts. Because of this many deserving business people do not get necessary loans. MFI will work with you to close those small loans on gas stations and auto body repair shop financing that others will not handle.
- Loan-to-Value ratio (LTV): Gas stations auto body and repair shop loans for financing 70% LTV and higher.
- Purpose: Loans for purchase, refinancing and cash-outs.
- Geographic Region: From USA
- Rates and Terms: Very competitive –Request a quote.
- Program types: Fixed and adjustable types available.
- Amortization period: Up to 20+ years
- Secondary liens: Seller carry back allowed up to 90% (CLTV).
- Down payment: As little as 10% with seller carry back.
- Collateral: First position lien only on subject property.
- Appraisal: MAI appraisal required.
- FICO score: Require a 575 minimum FICO score.
- Environmental due diligence: Required on all properties.
- Recourse: Full recourse to the borrower. Non-recourse under certain circumstances.
- Fast Commitment and Closing – LOI issued within 2 days of application and firm commitment is issued within 4 days after receipt of all required documentation from borrower.