Owners can phone (518) 282-8580 or start with the request form; the reviewing funding partner decides any terms.
How a Schenectady, NY gas station or convenience store can fund coolers, store fixtures, point-of-sale equipment, store stock or a business purchase.
At a glance
- Gasoline stations, Schenectady County, NY
61 employer establishments (CBP 2023, NAICS 4471)
- Gasoline stations with convenience stores
56 employer establishments (CBP 2023, NAICS 447110)
- Convenience stores, Schenectady County, NY
34 employer establishments (CBP 2023, NAICS 445120)
- Gasoline stations, ZIP 12305
4 employer establishments (ZBP 2023)
Gas Station Financing in Schenectady, NY: Store Equipment and Buying the Business
Two very different requests sit under gas station financing. Replacement store equipment such as reach-in coolers is identifiable with a supplier quote, a parts list and a working life measured in years, so it fits equipment financing; pumps, tanks, canopy construction and canopy lighting are excluded. Buying the business is a larger request that rests on the station’s sales records.
Illustration only, invented figures: a station replaces twelve reach-in coolers, quoted at $23,400 with supplier setup and with pump, tank and canopy work excluded, and finances the equipment at an annual rate of 9.5% for 60 months. The example comes to $491.44 per month and $29,486.40 over the five years, $6,086.40 of it interest.
Gas stations are funded here as businesses only. The land and the building are real property, and a loan to buy them is a commercial mortgage that this site does not arrange.
How to Buy a Gas Station Business? Start With What the Sale Includes
Buying a gas station business starts with a list of what changes hands. A sale can include the store fixtures and equipment, the fuel and inside-store stock on hand at closing, the fuel supply agreement, the lease if the seller rents the site, and the business name. Each piece is funded differently:
- Equipment and fixtures, through an equipment contract or a term loan
- Opening stock, through inventory financing or the same term loan
- The business itself and its goodwill, through a term loan sized on the station’s records
- Real estate, if the deal includes it, through a separate commercial mortgage arranged elsewhere
How to Get Funding for a Gas Station? An Example With a Point-of-Sale System
A point-of-sale system, with its register, scanner and card reader, is movable store equipment. Replacing an old one is an equipment purchase with a clear quote, and it can be financed on a contract of its own. Tank monitors, the gauges that read fuel levels in each tank, belong to the fuel system and are property work outside this site.
Funding for a gas station in general follows the same order: name the purchase, get the quote and gather recent statements. A station that needs both a new point-of-sale system and money for a large fuel delivery can show them as two lines of one request, since equipment and fuel are funded in different ways.
Can I Get a Loan to Buy a Gas Station? An Example With Store Equipment
Yes, for the business; the property is a separate matter. A buyer can fund the price of the station’s business, its equipment and its opening stock through a term loan. If the seller owns the land and building, that part of the deal needs a commercial mortgage, which is outside what Ivypark connects owners with.
Store equipment can be part of the plan when the buyer means to replace older units. The supplier quote lists the model and the installation, and an equipment contract can carry it for several years after closing; the fuel dispensers are property work outside this site.
How to Get a Loan to Buy a Gas Station Business: Records, Then Reach-In Coolers
A loan to buy a gas station business starts with records a partner can ask for:
- Monthly fuel gallons and inside-store sales for recent years, from the seller
- The seller’s business tax returns and bank statements
- The lease and the fuel supply agreement, if either transfers to the buyer
- An equipment list giving the age of the dispensers, tank monitors and coolers
Reach-in coolers come up once that list is in hand. Coolers near the end of their life can be priced into the purchase plan, either inside the term loan or as a separate equipment contract after closing. The beer, soda and snack stock that fills them is inside-store stock, and a line-of-credit draw or inventory financing fits it better than the cooler contract. Cashier payroll and the first fuel deliveries after closing fit working capital.
Pumps and Store Counters in Schenectady County, NY: The 2023 Establishment Counts
| Code | Schenectady County, NY | Fewer than five employees (county) | Establishments with a ZIP 12305 address |
|---|---|---|---|
| Gasoline Stations (4471) | 61 | 23 (37.7%) | 4 |
| Convenience Stores (445120) | 34 | 25 (73.5%) | 4 |
Most fuel stations in the county also run a store. Gasoline Stations with Convenience Stores (NAICS 447110) account for 56 of the 61 gasoline stations in Schenectady County, NY, or 91.8% by our arithmetic.
Stand-alone convenience stores sit under their own code and run with smaller staffs: 73.5% of them had fewer than five employees, against 37.7% of gasoline stations. The grocery stores page covers corner stores in more depth; both pages are grouped on the industries page, and the Schenectady, NY page has the county totals.
By Ivypark Lenders · Updated
