Gasoline Stations with Convenience Stores acquisitions in Minnesota: SBA loan data
Since FY2018, SBA lenders have approved 40 7(a) loans to buy an existing business classified as Gasoline Stations with Convenience Stores in Minnesota, totaling $36.9M. The median loan was $713,300. That is 2.2% of the 1,778 acquisition loans in Minnesota.
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How this compares
The median Gasoline Stations with Convenience Stores loan in Minnesota is 59% higher than the $450,000 median for all Minnesota acquisitions, and 50% lower than the $1,436,000 median for Gasoline Stations with Convenience Stores acquisitions nationwide (1,347 loans).
On losses, none of the 23 seasoned Gasoline Stations with Convenience Stores loans in Minnesota were charged off, against the 3.2% rate for all Minnesota acquisitions, and against the 0.9% rate for the industry nationally.
Gasoline Stations with Convenience Stores acquisition loans in Minnesota by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $280K | $140,000 | |
| FY2019 | 7 | $4.1M | $410,200 | |
| FY2020 | 2 | $157K | $78,400 | |
| FY2021 | 12 | $5.7M | $410,000 | |
| FY2022 | 5 | $9.5M | $1,366,600 | |
| FY2023 | 4 | $4.6M | $736,700 | |
| FY2024 | 3 | $3.5M | $1,090,000 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 5 | $9.1M | $1,467,000 |
How often do these acquisition loans fail?
Of the 23 Gasoline Stations with Convenience Stores in Minnesota acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 17 have already been paid in full.
For comparison, Gasoline Stations with Convenience Stores in Minnesota has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. 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 | United Prairie Bank | 7 | 17.5% | $2.1M | |
| 2 | Associated Bank National Association | 4 | 10.0% | $4M | |
| 3 | Security Bank USA | 4 | 10.0% | $1.7M | |
| 4 | Aspire Bank | 3 | 7.5% | $700K | |
| 5 | Alerus Financial, National Association | 2 | 5.0% | $2.2M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Arco (BP) | 4 | 10.0% | $1.8M | |
| 2 | World Fuel Services | 3 | 7.5% | $3.2M | |
| 3 | NAPA AutoCare | 2 | 5.0% | $1.1M | |
| 4 | Hardware Hank | 1 | 2.5% | $100K |
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do SBA loans for Gasoline Stations with Convenience Stores acquisitions in Minnesota run?
The median SBA 7(a) loan was $713,300 across 40 loans (FY2018 to FY2026), with the middle half between $242,925 and $1,092,225. 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 Minnesota?
United Prairie Bank (7), Associated Bank National Association (4), Security Bank USA (4), Aspire Bank (3), Alerus Financial, National Association (2). 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 Minnesota?
Of 23 seasoned loans (FY2018 to FY2021), none were charged off, against the 3.5% rate 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 Minnesota?
19 of the 40 loans (48%) involved a franchise brand, most often Arco (BP) (4).
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- All Minnesota 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 Illinois
- Gasoline Stations with Convenience Stores in Wisconsin
- Gasoline Stations with Convenience Stores in Georgia
- 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 3% of the count. Industry is the NAICS code the lender recorded. See the methodology.