SBA 504 Gas Station Feasibility Study in Massachusetts

How large Massachusetts gas station loans run

SBA approved 27 SBA 504 loans for gas stations in Massachusetts over FY2017 to FY2026, $15.3 million in gross dollars. The median Massachusetts loan is $507,000, and the middle half of gas stations loans runs from $260,000 to $676,000. Measured on the gas stations median nationwide under SBA 504, the Massachusetts median is 0.59x, smaller than the nationwide gas stations book carries. Franchised borrowers account for 33.3% of the gas stations loans in Massachusetts.

Rank 10 among states and 10 of 39 among Massachusetts classes: that is how Massachusetts gas stations stand under SBA 504. The busiest Massachusetts year was FY2022, with 7 loans and $2.5 million; and no loans appear for FY2026. In 504 gas station lending Massachusetts takes rank 10 among states, with a median under the national one and a franchise share of 33.3%.

SBA lists Granite State Economic Development Corporation as the leading holder for Massachusetts gas stations, with 12 loans worth $6.2 million. The Massachusetts list continues with Bay Colony Development Corporation: 7 loans, $3.0 million in all and New England Certified Development Corporation: 6 loans, $3.7 million in all. For 27 Massachusetts loans, Granite State Economic Development Corporation leads SBA's Massachusetts holders; each holds or held gas stations loans, none endorsed. The Massachusetts loans cluster in Middlesex, which has 6; Norfolk has 6 and Bristol has 4. Further down the list stand Worcester 4, Barnstable 2 and Essex 2.

Massachusetts outcomes: cancellations, charge-offs and code limits

Counting 27 gas stations loans in Massachusetts, the Massachusetts cancellation cohort is too small, and likewise no Massachusetts charge-off rate is shown. No gap here claims zero. Massachusetts gas stations and travel centers fall in one code, assigned by the borrower's industry and not by the site. Conventional loans in Massachusetts stay outside this file.

What a Massachusetts fuel study must show

Environmental history comes before anything else on a fuel property: tanks, past releases and cleanup liability near Middlesex should be reviewed before a 504 loan near $507,000 is sized. Slim fuel margins that move with wholesale prices put the weight of debt service on convenience sales, food and any wash. Brand or supply contracts set the price paid for gasoline and often restrict the operator. Taxes, card fees and compliance costs reduce the net per gallon. An appraiser separates land and canopy from the business, and asks how readily another operator could take over the site.