Just Closed: $2.8M SBA 504 Retail Acquisition
Liberty SBF closed a $2.8 million SBA 504 loan for the acquisition of a gas station and convenience store in late January 2022. The borrowers received 85% LTC for the 6,674 square foot property, located in High Point, NC.
The two borrowers were under contract to purchase the gas station for $3.2 million and required financing to complete the investment. The partners already own and operate an existing convenience store brand with four locations across New Jersey and North Carolina. They also have a partnership with a major oil company that will provide the gas for the station.
Our underwriting team structured the deal and valuation with the borrowers’ four existing entities as corporate guarantors. This acquisition will expand the company to five total locations.
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