Gasoline Stations with Convenience Stores acquisitions in Washington: SBA loan data
Since FY2018, SBA lenders have approved 229 7(a) loans to buy an existing business classified as Gasoline Stations with Convenience Stores in Washington, totaling $545M. The median loan was $2,147,500. That is 11.4% of the 2,006 acquisition loans in Washington.
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How this compares
The median Gasoline Stations with Convenience Stores loan in Washington is 218% higher than the $675,000 median for all Washington acquisitions, and 50% higher than the $1,436,000 median for Gasoline Stations with Convenience Stores acquisitions nationwide (1,347 loans).
On losses, 1.1% of seasoned Gasoline Stations with Convenience Stores loans in Washington were charged off, 69% lower than the 3.4% rate for all Washington acquisitions, and 22% higher than the 0.9% rate for the industry nationally.
Gasoline Stations with Convenience Stores acquisition loans in Washington by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 25 | $47.4M | $1,842,000 | |
| FY2019 | 18 | $32.3M | $1,560,000 | |
| FY2020 | 23 | $44.7M | $1,675,300 | |
| FY2021 | 29 | $61.2M | $2,111,000 | |
| FY2022 | 13 | $20.4M | $1,510,000 | |
| FY2023 | 15 | $42.3M | $2,275,000 | |
| FY2024 | 39 | $102M | $2,415,000 | |
| FY2025 | 36 | $99M | $2,563,500 | |
| FY2026 | 31 | $95.2M | $2,865,900 |
How often do these acquisition loans fail?
Of the 95 Gasoline Stations with Convenience Stores in Washington 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 1.1% by loan count and 0.2% by dollars. 63 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 Washington is 70% 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 | Readycap Lending, LLC | 40 | 17.5% | $110M | |
| 2 | PCB Bank | 24 | 10.5% | $60.8M | |
| 3 | UniBank | 24 | 10.5% | $58.1M | |
| 4 | Hanmi Bank | 24 | 10.5% | $52.2M | |
| 5 | Mountain Pacific Bank | 21 | 9.2% | $63.5M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Christensen Inc. | 21 | 9.2% | $37.7M | |
| 2 | Wilson Oil | 18 | 7.9% | $36.6M | |
| 3 | PacWest Energy (Shell) | 13 | 5.7% | $37.5M | |
| 4 | Chevron | 13 | 5.7% | $37.2M | |
| 5 | Jackson Food Stores | 11 | 4.8% | $29.7M |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
Questions buyers ask
How much do SBA loans for Gasoline Stations with Convenience Stores acquisitions in Washington run?
The median SBA 7(a) loan was $2,147,500 across 229 loans (FY2018 to FY2026), with the middle half between $1,375,000 and $3,160,000. 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 Washington?
Readycap Lending, LLC (40), PCB Bank (24), UniBank (24), Hanmi Bank (24), Mountain Pacific Bank (21). 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 Washington?
1.1% of 95 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 Washington?
154 of the 229 loans (67%) involved a franchise brand, most often Christensen Inc. (21).
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Related
- All Washington acquisitions
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Small samples move a lot: each loan in this combination is 0% of the count. Industry is the NAICS code the lender recorded. See the methodology.