Gas Station Feasibility Study in Rhode Island

Small loans around Kent and Providence

SBA approved 26 loans for gas stations and truck stops in Rhode Island between FY2017 and FY2026, with $8.0 million in gross dollars. Statewide volume places Rhode Island 41 of 53 for fuel retail, and the class takes seat 12 of 39 locally. A location quotient of 0.78x says fuel retail forms a slightly lighter slice of state approvals than of national ones. The distinguishing point is the geography: Kent County, which has no large city, leads with 11 loans, ahead of Providence with 9, then Bristol with 3 and Newport with 2.

The loan size

The median of $255,000 is 0.24x of the nationwide class figure, with the middle of the distribution spanning $56,250 and $522,000, so many of these are tiny, closer to equipment and inventory financing than to purchases of a station with its land. 20 of the 26 ran under 7(a) and 6 under 504, a higher 504 share than in most classes here, which is a sign that some deals did involve real estate. Franchised outlets account for 23.1% of loans, consistent with branded fuel and convenience agreements.

Lender and timing

Under 7(a), the name SBA lists most often is TD Bank, National Association, at 5 loans; that tallies holdings and implies nothing about criteria. Yearly volume swung between 1 and 4 loans, with 4 in FY2025 and 4 in FY2026, the latter worth $1.5 million.

Coding and the floors

Rhode Island data carry the code of the borrower's industry, and truck stops and travel centres are not distinguishable from stations that sell no groceries. EV charging has no entry in the current industry index, so a charging site would be filed elsewhere or not found at all. Loss percentages for fuel retail here stay blank, since each cohort is short of loans; they are unknown, not nil.

What a Rhode Island fuel study has to test

A fuel project turns on traffic counts and gallons, so the study should estimate the daily vehicles passing the site and the share that would stop, then convert that to fuel margin and convenience sales. Environmental history is a real cost: underground tanks, remediation and insurance should be priced before the loan amount is set. The study should compare capital needs with a typical ticket near $255,000, and show debt service coverage if fuel margins narrow. Lenders will look at the appraisal of a going concern, and the electric vehicle shift deserves a sensible sensitivity.