What will a buyer’s lender want to know about my gas station?

Most buyers need a lender, and the lender reads your station through the buyer’s application. You will not deal with the lender directly in most cases, but what you hand over decides how smoothly the loan moves. Stations bring a few questions that an ordinary shop does not, so it helps to know them ahead of time.

Records for fuel and for the store

A lender will want to see fuel and store results kept apart, with the statements behind them. Fuel statements from the supplier, point-of-sale reports for the shop and any car wash records all help. Presenting your income covers how to lay these out so they can be followed.

The supply agreement and the lease

Lenders care how much time is left on the supply agreement and whether it can pass to a new operator. They ask the same about the lease if you rent the site. Why a lender cares about lease term explains the thinking. Ask your lawyer what each document says about transfer.

Equipment and the site

Expect questions about the age and condition of the dispensers, the point-of-sale system and the car wash, with service records to match. A lender may also want to see environmental reports on the site. Ask whether any exist, where they are kept and who prepared them, and speak to your lawyer about what you can share.

Be ready before the application

Put the documents in one organized folder and tell the buyer what is in it. Ask them what their lender has asked for so far, because requirements vary.