Gasoline Stations with Convenience Stores acquisitions in Illinois: SBA loan data
Since FY2018, SBA lenders have approved 73 7(a) loans to buy an existing business classified as Gasoline Stations with Convenience Stores in Illinois, totaling $107M. The median loan was $1,400,000. That is 4.1% of the 1,779 acquisition loans in Illinois.
- Loans, FY2018-FY2026
- 73
- Median loan
- $1,400,000 (middle half $840,000 to $1,825,000)
- Top lender
- Byline Bank (38%, 28 loans)
- Charge-off, FY2018-FY2021 loans
- 3.3% (all-acquisition: 3.5%)
- FY2026 loans (latest complete year)
- 13
SBA lenders approved 73 7(a) loans to buy a business classified as Gasoline Stations with Convenience Stores in Illinois from FY2018-FY2026, with a median of $1,400,000 and a middle half of $840,000 to $1,825,000. Byline Bank made 38% of them. FY2026 had 13 loans.
The purchase agreement decides what you bought, not the loan approval.
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How Gasoline Stations with Convenience Stores in Illinois compares
| Measure | Gasoline Stations with... | Illinois, all industries | Gasoline Stations with..., nationwide | All acquisitions |
|---|---|---|---|---|
| Median loan | $1,400,000 | $650,000 | $1,436,000 | $645,250 |
| Middle half of loans | $840,000 to $1,825,000 | $300,000 to $1,551,000 | $800,000 to $2,415,600 | $283,000 to $1,465,000 |
| Average initial rate | 7.74% | 7.78% | 7.36% | 7.76% |
| Median term | 25 years | 10 years | 25 years | 10 years |
| Charge-off rate (seasoned loans) | 3.3% | 4.5% | 0.9% | 3.5% |
| Loans in sample | 73 | 1,779 | 1,347 | 48,902 |
The median for loans to buy gas stations in Illinois is $1,400,000, well above the $650,000 median for all Illinois acquisitions, in line with the $1,436,000 median for Gasoline Stations with Convenience Stores acquisitions nationwide and well above the $645,250 median for all SBA-financed acquisitions nationally.
The middle half runs $840,000 to $1,825,000, against $283,000 to $1,465,000 nationally; the median term is 25 years, longer than the national median of 10 years; the average initial rate is 7.74%, in line with the 7.76% national average.
Seasoned loans were charged off at 3.3%, below the 4.5% rate for all Illinois acquisitions, well above the 0.9% rate for Gasoline Stations with Convenience Stores acquisitions nationwide and in line with the 3.5% rate for all acquisition loans.
Loan size distribution
| Loan size | Gasoline Stations with... | All acquisitions |
|---|---|---|
| Under $350K | 7% | 30% |
| $350K to under $1M | 25% | 33% |
| $1M to under $2M | 49% | 19% |
| $2M and over | 19% | 17% |
Most loans to buy gas stations in Illinois (68%) were $1M or more, and the largest single band is $1M to under $2M at 49%, against 19% of all acquisition loans.
Bands are fixed dollar ranges chosen for comparison. They are not SBA program limits.
Lender concentration
Byline Bank made 38% of loans to buy gas stations in Illinois, and the top three lenders together made 53%. 7 of the 24 lenders involved made three or more. A few banks carry most of the volume. That is a rough guide to how many banks have seen this kind of deal before.
Recent activity
In FY2025 and FY2026 combined, 21 loans to buy gas stations in Illinois were approved. That is 75% more than the 12 approved in FY2023 and FY2024. The median was $1,600,000, slightly above the $1,400,000 median across all years.
Gasoline Stations with Convenience Stores acquisition loans in Illinois by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $1.8M | $480,000 | |
| FY2019 | 8 | $12.6M | $1,555,000 | |
| FY2020 | 10 | $11.7M | $1,265,600 | |
| FY2021 | 9 | $11.6M | $1,260,000 | |
| FY2022 | 10 | $18.7M | $1,676,150 | |
| FY2023 | 8 | $11.3M | $1,557,750 | |
| FY2024 | 4 | $8M | $1,711,000 | |
| FY2025 | 8 | $12.7M | $1,525,450 | |
| FY2026 | 13 | $18.3M | $1,600,000 |
How often do these acquisition loans fail?
Of the 30 Gasoline Stations with Convenience Stores in Illinois acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 1 have been charged off by the SBA, a rate of 3.3% by loan count and 1.5% by dollars. 19 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Gasoline Stations with Convenience Stores in Illinois is 5% lower than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Terms signed in the LOI shape the purchase agreement that follows.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Byline Bank | 28 | 38.4% | $50.4M | |
| 2 | Merchants Bank of Indiana | 7 | 9.6% | $11.4M | |
| 3 | Millennium Bank | 4 | 5.5% | $4.2M | |
| 4 | The Huntington National Bank | 4 | 5.5% | $3.7M | |
| 5 | First Internet Bank of Indiana | 4 | 5.5% | $3.4M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | World Fuel Services | 10 | 13.7% | $13.6M | |
| 2 | Parent Petroleum | 7 | 9.6% | $15.3M | |
| 3 | U.S. Oil (Mobil) | 3 | 4.1% | $5.5M | |
| 4 | GPM Empire | 3 | 4.1% | $1.6M | |
| 5 | Circle K | 2 | 2.7% | $2.4M |
Seller note standby terms and third-party consents are reviewed before closing.
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Questions buyers ask
How much do SBA loans for Gasoline Stations with Convenience Stores acquisitions in Illinois run?
The median SBA 7(a) loan was $1,400,000 across 73 loans (FY2018 to FY2026), with the middle half between $840,000 and $1,825,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Gasoline Stations with Convenience Stores acquisitions in Illinois?
Byline Bank (28), Merchants Bank of Indiana (7), Millennium Bank (4), The Huntington National Bank (4), First Internet Bank of Indiana (4). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Gasoline Stations with Convenience Stores acquisition loans fail in Illinois?
3.3% of 30 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of Gasoline Stations with Convenience Stores acquisitions in Illinois?
47 of the 73 loans (64%) involved a franchise brand, most often World Fuel Services (10).
How much do you need down for an SBA loan to buy a gas station in Illinois?
The SBA requires the buyer to make an equity injection, commonly 10% of total project cost, and a lender may ask for more. The SBA file does not record injections, so the figures here are the financed portion: the median for loans to buy gas stations in Illinois was $1,400,000, and the middle half ran $840,000 to $1,825,000.
How long does an SBA acquisition loan take?
For a change-of-ownership 7(a) loan, 45 to 90 days from application to close is typical. It varies by lender and by how quickly third-party reports, such as the business valuation and appraisal, come back. The SBA file records approval dates, not application dates, so this site cannot measure it. Lenders approved 21 loans to buy gas stations in Illinois in FY2025 and FY2026.
Which banks make SBA loans for a gas station in Illinois?
By loan count, FY2018 to FY2026: Byline Bank (28), Merchants Bank of Indiana (7), Millennium Bank (4), The Huntington National Bank (4), First Internet Bank of Indiana (4). Byline Bank made 38% of loans to buy gas stations in Illinois. Counts show past approvals only and do not predict whether a lender will approve a particular deal.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Illinois acquisitions
- Financing one? How to get an SBA loan to buy a gas station
- Gasoline Stations with Convenience Stores nationally
- Gasoline Stations with Convenience Stores in Texas
- Gasoline Stations with Convenience Stores in California
- Gasoline Stations with Convenience Stores in Washington
- Gasoline Stations with Convenience Stores in Wisconsin
- Gasoline Stations with Convenience Stores in Georgia
- Gasoline Stations with Convenience Stores in Minnesota
- Gasoline Stations with Convenience Stores in Oregon
- Gasoline Stations with Convenience Stores in Oklahoma
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Small samples move a lot: each loan in this combination is 1% of the count. Industry is the NAICS code the lender recorded. See the methodology.
Cite this data
SBA Acquisition Data, "Gasoline Stations with Convenience Stores in Illinois: SBA acquisition loan data", https://sbaacquisitiondata.com/state/il/gasoline-stations-with-convenience-stores-457110 (data as of September 30, 2026). Source: U.S. Small Business Administration 7(a) loan file, data.sba.gov. Aggregated by SBA Acquisition Data.
The figures on this page are also published as JSON at https://sbaacquisitiondata.com/data/state/il/gasoline-stations-with-convenience-stores-457110.json.