Industry data
Financing for gas stations: what the loan data shows
1,735 SBA 7(a) loans went to gas stations recently, at a median of $1,342,500. The lenders that make them, the terms they write, and what underwriters look at.
1,735 SBA 7(a) loans went to gas stations in the most recent fiscal years, at a median of $1,342,500 over 25 years. 34.8% went to new or under-two-year-old businesses, and the most active lender was Celtic Bank Corporation.
What a gas station loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Gas stations and convenience stores | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 1,735 | 214,102 |
| Median loan | $1,342,500 | $150,000 |
| 25th - 75th percentile | $590,700 - $2,503,000 | $50,000 - $500,000 |
| Median term | 25 years | 10 years |
| Median initial rate | 9.50% | 10.25% |
| Share to new businesses | 34.8% | 33.6% |
| Charge-off rate, FY2010-19 | not enough history | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loans here run larger than average. The median of $1,342,500 is 795% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- Startup share is about average, at 35% against 34% nationally.
- Lending here is fragmented. The top three lenders made only 18% of these loans between them, so no single institution owns this market. That is good news: it means shopping genuinely pays.
- Rates run lower here. The median initial rate of 9.50% is 0.75 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- Terms are long, at a median of 25 years, which almost always means real estate is securing a large share of these loans.
What lenders look at in this sector
Two things dominate: environmental liability from underground storage tanks, and how much of your profit is fuel versus inside sales. Lenders strongly prefer stations where the convenience store carries the margin. Budget for a Phase I environmental report and expect a Phase II if the tanks are old.
Which lenders actually fund gas stations
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to gas stations, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Celtic Bank Corporation | 132 | $2,196,800 | 43% | 10.00% |
| Readycap Lending, LLC | 95 | $2,016,000 | 30% | 9.75% |
| Open Bank | 84 | $1,918,000 | 5% | 8.75% |
| Wallis Bank | 71 | $1,596,500 | 56% | 9.75% |
| Metro City Bank | 70 | $1,310,000 | 33% | 8.75% |
| The Huntington National Bank | 60 | $200,000 | 23% | 10.00% |
| Commonwealth Business Bank | 54 | $1,714,000 | 18% | 9.50% |
| Southwestern National Bank | 47 | $1,825,000 | 26% | 9.00% |
| US Metro Bank | 44 | $2,210,000 | 27% | 8.50% |
| Byline Bank | 42 | $1,335,000 | 43% | 10.38% |
Where these businesses borrow
Most active states for gas stations: Texas (321), California (292), Washington (189), Georgia (99), Illinois (66), Wisconsin (48).
Which financing fits
| Product | Fit for this sector | Typical cost |
|---|---|---|
| SBA 504 | Strong fit — real estate is carrying these deals | 6.0% - 7.5% effective, fixed |
| SBA 7(a) | The dominant vehicle in this niche | 10.0% - 14.0% APR |
| Commercial mortgage | If you are buying the building | 6.5% - 9.5% APR |
| Equipment financing | For the hard assets, often cheaper separately | 7.0% - 30.0% APR |
| Business acquisition loan | If you are buying an existing operation | 10.0% - 14.0% APR |
Before you apply
- Check coverage first. Run the payment through the affordability calculator at 1.25x.
- Shortlist from the lender table, favouring ones whose median loan here is close to what you need.
- Assemble the documents — see the checklist.
- If you are buying rather than starting, read business acquisition loans first; the injection rules and diligence are different.