SBA 7(a) Gas Station Feasibility Study in South Carolina

What South Carolina shows for gas station (SBA 7(a)) lending

Across FY2017 and FY2026, SBA approved 59 loans in the 7(a) program to gas station projects in South Carolina, carrying $64.3 million in gross dollars. Of all the states, South Carolina sits at 23 for gas station lending under SBA 7(a) by count, while within South Carolina gas station takes spot 10 of 39. Midpoint size: $800,000. Relative to gas station (SBA 7(a)) loans nationwide, South Carolina runs at 0.73x on that median, a more modest loan profile. The middle half of South Carolina approvals run from $590,250 to $1.4 million. Franchised applicants account for 27.1% of the 59 loans. At $800,000, the median loan is the one figure that differs from both comparisons: gas station across both programs in South Carolina, and gas station (SBA 7(a)) lending nationally.

Where the South Carolina loans sit

The institutions with the most South Carolina gas station loans are TD Bank, National Association (9 loans, $5.8 million) and Citizens Bank (7 loans, $7.7 million). Each South Carolina gas station loan appears under the holder SBA reports today; TD Bank, National Association holds 9. Within South Carolina, the counties in SBA's files are Richland with 8, Aiken with 5, Lancaster with 5 and Lexington with 4. The yearly pattern for South Carolina is clear: approvals peaked at 10 loans, worth $7.8 million, in FY2019, with FY2026 at 7 loans and $10.5 million; the series opened in FY2017 at 4.

South Carolina: cancellations, charge-offs and one gas station coding limit

Pulling out South Carolina gas station loans that never funded: 15.9% of South Carolina's FY2017 to FY2024 approvals for gas station ended in cancellation, and the upper bound is also 15.9%. Too few of the 59 gas station loans funded in South Carolina between FY2017 and FY2021 to justify publishing a gas station charge-off rate; none is shown here, and that empty cell is not a zero. Each South Carolina gas station rate on this page is a minimum, since undisbursed gas station loans among the 59 can yet change. The class has a classification limit that is worth noting in South Carolina: SBA classifies a South Carolina business by its industry, not by the site; travel centers cannot be split out and share the gas code with pump-only sites, and EV charging has no line in the index SBA applied.

What a South Carolina gas station study must test

With 7(a), each South Carolina gas station request goes to one participating lender, and across 59 loans a part of each is guaranteed, so the gas station study has to stand up to that lender's credit review. Fuel demand on the South Carolina road decides much: volumes, access, competing stations and convenience offer all need a test. Tanks, canopies, dispensers and environmental costs make gas station budgets in South Carolina site-specific, so the study itemises each. The coverage test runs at $800,000 and again at $1.4 million, with a downside case, so a South Carolina reader can see where gas station coverage thins. An appraisal of a South Carolina gas station must consider fuel throughput and margin apart against inside income, so the study should show each. A borrower who is approaching TD Bank, National Association can read its 9 loans as context alone, because the SBA figures describe a book of loans and carry no terms.

What the South Carolina approvals show is history, 59 loans' worth; a gas station study signed by Daniel Smith, MAI, for South Carolina settles the project and site issues, and these South Carolina numbers guarantee no approval.