Lines of Credit for Gas Stations

When speaking to gas station owners that apply for a line of credit, we generally see a large range of reasons for the use of funds. Whether it be for renovations to the gas station, new gas pumps or other gas station equipment, to buying automotive products to sell, there is one thing that is the common theme

By Matthew Elling
Co-Founder and Consultant at Line of Credit Depot
Updated on February 10, 2021
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We have been able to get lines of credit for many gas stations throughout the years. Similarly to other businesses, each gas station is very unique. Most gas stations offer other services and products, not only just stand alone pumps. But whatever size gas station you own, we can help you get a preferred bank line of credit with rates starting at 4% annually.

When speaking to gas station owners that apply for a line of credit, we generally see a large range of reasons for the use of funds. Whether it be for renovations to the gas station, new gas pumps or other gas station equipment, to buying automotive products to sell, there is one thing that is the common theme. All business owners want security, surprises in running a gas station aren’t usually surprises that are cheap. That’s why banks offer gas stations lines of credit. A business line of credit acts as a financial security net to shelter operational cash if there is some type of immediate need for capital.

‘If you fail to plan, you plan to fail’; is an old saying. This is exactly why it’s important to plan for the unexpected. As a gas station or convenience store owner, having access to a true revolving line of credit is part of the business plan. If anything comes up where you need to access capital, the line of credit can be drawn from and money will be deposited right into your operational account.

The costs of running a gas station or convenience store are large. Plus, it’s a volume game, since with petrol sales you make only pennies per gallon pumped, that’s why most gas station owners sell more products than just gas. Convenience stores that sell retail goods as well as renting out space to an independent service station are ways that owners can diversify income streams.

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To qualify for a line of credit, gas station owners must have a ‘Good’ credit score, which generally means higher than 650 FICO. Also, the business must show to be profitable, which means that excessive losses year after year will disqualify the business from qualifying for a line of credit.

Line of credit facilities for gas stations range anywhere from $100,000 to $500,000. The determining factor for the facility size is the amount of gross sales that the business generates per month. For example, a gas station that generates $20,000, most likely will not qualify for a $500,000 line of credit. This is because if the business owner were to draw on a line of $500,000 in full, the business would not be able to support the debt servicing payments. It’s important to understand these considerations when applying for a line of credit, so you have the correct expectations.


For a no obligation quote on a pre-approval, please apply here. There is no upfront credit check performed and no risk to see what you can qualify for.

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