Gas Station Financing & Convenience Store Financing

The very reason that banks are reluctant to offer business financing to gas stations is one of the top reasons your gas station is likely to get approved for business financing from Greenbox Capital. Banks shy away from gas station financing because this business’ income is not predictable and categorized as a cash business. Generally for banks, gas stations are too risky unless the business has an excellent credit score, a long profitable operational history, and collateral. Even then, you never know if you’ll qualify for gas station loans. On the other hand, one of the chief reasons that Greenbox Capital offers business financing to the gas station industry is due to the high amount of cash or credit card transactions. Strong cash flow, business stability, and potential for success are key factors we consider when approving small business funding solutions. A low credit score and lack of collateral are not obstacles to a Merchant Cash Advance from Greenbox Capital. Because of this, our name is at the top of the list of gas station lenders.

Greenbox Capital financing solutions, such as gas station loans, are built to fit the gas station business model. Funding is based on the future cash or credit card sales of the business. A few of our minimum requirements are that a business is in operation for at least 6 months and has an average monthly revenue of $7,500 in each of the past three months. Businesses may qualify for a cash advance equal to 70% or 100% of their monthly revenue.

gas station financing

Turn Future Sales into Cash Now

Businesses with high volume credit card transactions can obtain $5,000 up to $250,000 in as little as 24 hours through a gas station and convenience store financing product called a Merchant Cash Advance¹. It’s also referred to as “credit card receivable funding,” because the funder purchases the borrower’s future sales. Payback is fully automated and most business owners say they don’t “feel” the repayment. If your sales volume or credit card receipts are not strong enough for an unsecured cash advance, ask Greenbox Capital funding advisors about collateral-backed or asset-backed financing. You could qualify for a cheaper rate with collateral-backed financing.

As an alternative lender aimed at helping small businesses throughout the US, Puerto Rico, and Canada to succeed, we have the expertise to provide affordable funding programs to gas stations. Our payback options are designed to fit into your business operations with little or no administrative work on your end. Choose Split-Funding or Automated Clearing House (ACH) payback models. Fixed ACH payments are deducted directly from the business bank account either daily or weekly. This is ideal for the business owner who keeps a close watch on cash flow. Always knowing how much is due helps business owners manage cash flow received through gas station financing. Once you’ve paid 50% of the cash advance, Greenbox Capital may renew the advance and increase the amount of cash available. If you qualify for a Business Line of Credit you may be able to renew without first paying back 50% of the original advanced amount. This keeps cash ready for fast access, as needed.  

Along with a line of credit, other programs include our Early Pay-off at 30, 60, or 90 days from the date of funding to receive a discount. For every 30 days that the advance is paid early, the merchant can receive a factor rate reduction. Our Escrow Program enables merchants to receive gas station and convenience store financing prior to paying off existing cash advance with another lender. A 3 Stip Business Cash Advance only requires a voided check, driver’s license, and bank account verification via decision logic or screen share. Businesses can receive up to $30,000. Visit 3 Stip Business Cash Advance for more details. 

Growth Trends for Gas Stations

Gas stations are becoming increasingly profitable but in order to survive they must be able to quickly adapt to consumer demands. The most influential trend among gas stations is the transformation into quick stop convenient marts with fuel and other services. Greenbox Capital is the lender to go to for a gas station equipment financing. Working capital financing or a small business cash advance can support your goals to expand your operations, purchase another location, or buy into a franchise. The opportunities provided by gas station loans are endless and it’s inspiring to plan for them. However, along with motivations for growth like realizing your dream business, there are the daily operational requirements of running a gas station. Not only must payroll be met and inventory ordered, but a commercial operation like a gas station is vulnerable to environmental issues. Fast access to cash for your business can mean the difference between a huge setback or just a minor slowdown in the event of an emergency, such as a leak. According to the Environmental Protection Agency, the cost of cleaning up soil contamination is at least $100,000. 

Whether your plan is to grow right now or get your business in order before launching strategic initiatives, access to working capital is the way to achieve your business goals.  

¹ Greenbox Capital Merchant Cash Advances may not be available in all regions of the United States or Canada.

For a free consultation, please complete our application or contact our Merchant Account Service Team to learn more about gas station financing or convenience store financing.