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Frequently Asked Questions
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Do you provide construction financing?
-Yes
What are the rates?
-Our rates will be very competitive and are based on Prime, Treasuries and on the contract structure and credit risk.
What is your turnaround time?
-Our target is to approve and close on loans 45 days within approval time of the proposal.
Do you require Phase 1 or Phase 2 Environmental reports?
-If Phase 1 Site Assessments and Phase 2 Subsurface Investigations have been previously prepared, they are reviewed by the
lender's environmental staff.
Will Lending In USA do financing for properties with known environmental problems?
-Yes, assuming all information required by the lenders environmental staff is provided and all standards are met.
Does Lending In USA only finance gas stations?
-No, we finance convenience stores, service stations, truck stops, car washes, oil and lube centers, and related concepts. The list is
always expanding, and we are open to exploring new areas.
What information does Lending In USA need to begin developing a loan proposal?
-Below is an outline of the documentation we typically request so that our proposal will give maximum loan valuation to the properties to be pledged as collateral:
Company Information
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2000, 2001 and 2002 year end financial statements
- 2003 current interim financial statements or year end statements if completed
Station Information
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Year end financial statements for the latest three years
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Current YTD financial statement and comparative previous YTD financial statement
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Total gallonage: Latest three-year, current interim and previous year interim
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Station address with station number
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Store designation as to fee simple or leasehold improvement
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Map of competition
- Projections
- Estimated property values for each location
- Annual pooled gross fuel margin (last 3 years)
- Annual gross C-Store margin (last 3 years)
Structure
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Corporate owner/organization chart
- Personal financial statement on owners
- Resume on owners
- Schedule of long-term debt
- Banking and credit references
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