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Many gas stations have repair and service centers that amass a tremendous amount of machinery, equipment and tools. The financial institution will look at these assets, whether it is free and clear or not.. The amount of gas station commercial business financing, working capital and loans could approximate $100,000 or more. The following information is required to get gas stations this type of working capital deals funded: 1) Filled out and signed and dated application 2) All pages of your last six months business bank statements ( all pages) 3) A detailed list of your equipment that you own free and clear and not free and clear. That can be generated from a 2010 detailed depreciation schedule or filling out a detailed lender form. 4) A complete copy of your 2009 business tax return 5) A submission of interim financial statements for 2010 6) A copy of gas station business lease 7) A copy of the driver license of the owners. 8) Must be in Business at Least One Year In addition, the terms of these gas station business loans usually run up to five years in duration. These loans are asset driven but business and personal credit is examined as well. It is recommended that the owner’s personal credit score should exceed 620… The approval process takes nearly five to seven business days after the mandatory information is submitted. Once approved, the funding could happen in as little as three more business days.. In addition, not included in this write up, a merchant cash advance or loan program based upon the credit card sales in the service center could raise additional working capital as well. Another financing and loan program based upon your ending business bank statements is available as well. If you have any more questions, give us a call or email us with your questions. Happy hunting for your gas station commercial business financing and working capital loans.
Article Source: http://www.onlinearticlessite.com
J.M Luna has over thirty years experience in the financial field. This includes financing, hard asset money and commercial lending. U.S Corporate Capital Leasing assists the start up and seasoned businesses for all its gas station acquistion and financing needs. www.cclgequipmentleasing.com/work_trucks.htm www.cclgequipmentleasing.com/cashadvances.htm
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