Gas Station Feasibility Study in Arkansas

Arkansas leans toward fuel retail

Fuel retail matters more in Arkansas lending than in the national picture. The state counts 49 gas station and truck stop approvals between FY2017 and FY2026, totalling $65.8 million. A location quotient of 1.27x marks the class as overweight against the national mix, and inside Arkansas it holds sixth place of 39 asset classes, although the state itself is only 32 of 53 on loan count. Tickets are large but a little under the national level: the median of $929,000 is 0.88x the national median, and the spread of typical loans reaches from $350,000 to $2.0 million. No metric stands out from both benchmarks.

Lenders, programs and places

SBA 7(a) supplied 47 of the loans and SBA 504 just 2, so most owners financed with a conventional lender's guaranteed term loan, not the fixed-rate real estate programme. Brands appear in 20.4% of loans. Citizens Bank holds 6 loans worth $13.5 million, T Bank, National Association holds 5 worth $16.1 million, a very high average, and FNBC Bank holds 5 worth $1.6 million. Sebastian County leads with 10 loans, Benton has 8 and Pulaski 6, with White at 3.

Years of contrast

Approvals reached 9 loans and $10.6 million in FY2019 and again 9 loans and $20.1 million in FY2025, the biggest year by far. At the other extreme, FY2023 shows a single loan for $457,200, and FY2018 had 2. FY2026 closed with 7 loans and $8.9 million. The big 2025 group has had little time to season.

Pulled approvals and a hidden loss rate

At least 18.2% of FY2017 to FY2024 approvals lapsed without funding, and counting unfunded loans as dropped yields the same share, a high floor. No loss rate is printed, since the earliest disbursed cohort is under 30 loans. That absence says nothing in favour of safety.

What the study should answer

Start with the road: traffic counts, speed, turning movements and whether the site catches inbound or outbound trips. Then map every competing pump within a reasonable drive, including warehouse club fuel. The case should be tested on fuel margin per gallon, store sales, food service and, for travel centres, truck parking and showers. A ticket near $929,000 may fund tanks, canopy and building, and environmental history belongs in the cost line. Run the payment test against a fuel price squeeze and lower gallons. The code follows the borrower's own industry, so a truck stop cannot be split from a station, and electric charging does not appear in the 2022 index.