Binghamton, New York station and convenience store owners can route funding requests through Harborpark Funding Group to funding partners. This page covers Broome County counts, dispensers, fuel supply agreements, store rebuilds and buying a station.
At a glance
- Gasoline stations, Broome County, NY
82 gasoline station employers, Broome County, NY (CBP 2023)
- Convenience stores, Broome County, NY
29 convenience store employers, Broome County, NY (CBP 2023)
- Gasoline stations, ZIP 13901
9 gasoline station employers with a ZIP 13901 address (ZBP 2023)
Gas Station Financing for Pump and Payment Upgrades in Broome County, NY
Fuel dispensers, payment terminals that read chip and contactless cards, tank monitoring systems and canopy lighting are the forecourt equipment of a station. Gas station financing for pump and payment upgrades in Broome County, NY is usually an equipment loan or lease, sometimes arranged through the fuel supplier.
Illustration only, invented figures: $96,000 of dispensers and payment terminals financed over 72 months at an invented annual rate of 9.75% costs about $1,766 a month (our arithmetic).
Gasoline stations numbered 82 employers in Broome County, NY in 2023, with 659 paid employees, and convenience stores without fuel numbered 29; together that is 111 employers across two Census codes (our sum). Nine stations had a ZIP 13901 address.
Gas Station Lenders and the Fuel Supply Agreements They Read
Most stations sell fuel under a supply agreement with a brand or a distributor, and that agreement shapes any loan. Gas station lenders read its length, the volume commitments, any incentive funds the supplier paid that must be repaid if the station leaves early, and whether the supplier holds a lien on the equipment.
Bring the supply agreement, monthly fuel gallons and inside-store sales, the lease or deed and the station's tax returns. Fuel margins and store margins are read separately.
How to Buy a Gas Station Business in the Southern Tier
Buying a gas station business in the Southern Tier means buying the fuel supply agreement, the store, the equipment and often the real estate. Real estate loans are not arranged through this site, so a purchase that includes the land goes to a bank, credit union or SBA lender; a purchase of the business on leased land can be funded with a term loan.
Environmental history matters in any station deal. Lenders may ask for an environmental review of the tanks and soil.
Commercial Loan for a Gas Station Rebuilding Its Convenience Store
A station rebuilding its convenience store replaces coolers, shelving, the checkout counter, lighting and sometimes the building interior. A commercial loan for a gas station rebuilding its store is usually a term loan for the construction with the coolers and shelving on equipment financing.
Inside sales carry much of a station's margin, so lenders want to see store sales by category from the point-of-sale system. A rebuild budget should include the weeks the store is closed or partly open.
Business Loan for a Convenience Store Adding a Deli
A deli adds hot food, a slicer, a prep table, a hot case and a refrigerated display case, and it needs health department approval before it opens. A business loan for a convenience store adding a deli is usually an equipment loan for the cases and kitchen gear, with the build-out on a short term loan.
Of the county's 29 convenience store employers in 2023, 27 had under five people on payroll (CBP), so a deli adds real weight to a small staff. The grocery page covers deli counters in larger stores.
Store Stock, Lottery and Tobacco in the Station Cash Cycle
A station's store carries stock that turns at different speeds: drinks and snacks every few days, tobacco and lottery under their own payment rules, auto supplies more slowly. Stock purchases can go on an inventory loan or a line of credit, while fuel is usually paid to the supplier on short terms set in the supply agreement.
Bank statements show these cycles side by side, which is why lenders ask for several months of them.
Fuel Margins, Inside Sales and the Gas Station File
A station earns money in two places: a margin on every gallon of fuel and a margin on what sells inside the store. Fuel volume can be large while the margin per gallon is thin, and inside sales can be smaller in dollars while carrying a larger share of the profit. Lenders read the two separately, using monthly gallon reports from the supplier and store sales by category from the point-of-sale system.
Card processing costs also weigh on a station, because many fuel sales are paid by card. Bring the processing statements with the bank statements, so the reviewer sees the full cost of taking payment.
A station planning an upgrade should total the repair calls and downtime on its old dispensers over the past year. Those records show why the replacement makes sense and what lost sales the old equipment has already cost.
By Harborpark Funding Group · Updated