Gas Station Feasibility Study in New Hampshire

The smallest gas station loans we see

New Hampshire stands out for how small its gas station loans are relative to the class. SBA approved 62 of them from FY2017 to FY2026, worth $21.1 million, and the median loan of $177,500 is only 0.17x the class median nationwide. The median is the one metric on which the cell departs from New Hampshire lending as a whole and from gas stations elsewhere. Half of the loans lie between $50,000 and $271,750. Among states New Hampshire is 28 of 53 for the class, gas stations rank 9 of 39 among New Hampshire asset classes, and a location quotient of 0.94x says the sector carries about its national share. These are not big fuel acquisitions; the dollars point to small conversions, equipment and working capital.

A development company market

The 504 program carried 27 loans and 7(a) carried 35, an unusually high 504 share. Among 504 lenders, Granite State Economic Development Corporation leads with 15 loans and $9.0 million, ahead of Capital Regional Development Council at 9 loans and $3.8 million. Among 7(a) lenders, TD Bank, National Association has 9 loans but only $390,000 in all, and Eastern Bank has 7 loans and $664,600, so the bank loans are very small. Franchise loans are 22.6% of the cell. Hillsborough County has 15 loans, Grafton and Rockingham 12 each, and Sullivan 6.

Approvals, cancellations and a missing rate

Year to year the volume bounces between 3 and 11 loans, with FY2023 at $4.3 million and FY2024 at only $335,000 across 7 loans. The cancellation floor is 17.2% across the FY2017 to FY2024 approval years, and treating undisbursed loans as lost does not move it. No charge-off rate is printed as the funded cohort holds under 30 loans, which leaves loss experience unmeasured.

What a study has to test

A fuel project at these loan sizes is often a small station or a conversion, and a New Hampshire study should state which. Test pump volume against traffic on the specific road, the competing stations nearby, and the margin per gallon the fuel supplier offers. Convenience sales, food or service bays should be modelled separately, because they often decide whether the loan is serviced. The cost side must include tank condition, regulatory compliance and any cleanup, since an environmental surprise can exceed the loan itself. Winter weather affects visits and should be reflected in the monthly cash flow. The appraisal will separate the going concern from the real estate, so the lender will want an equity contribution and a conservative margin case.

How the code reads in New Hampshire

Truck stops and travel centres stay inside the cell because the code follows the owner trade, and a charging project would not show up.