Boldmont Lending, a small-business funding service in Urbana, Illinois, helps Champaign County, IL gas station and convenience store owners request inventory financing for fuel and store stock, equipment financing for coolers and dispensers, and term loans to buy a station. This page covers each, with Champaign County, IL station counts.
At a glance
- Champaign County, IL fuel stations that run a payroll
55 (CBP 2023, NAICS 4471)
- Employees
531 (CBP 2023)
- Stand-alone convenience stores with payroll
3 (CBP 2023)
Gas stations and convenience stores in Champaign County, IL by the numbers
Champaign County, IL had 55 gasoline station employer establishments in 2023, with 531 employees and about $15.3 million in annual payroll (County Business Patterns 2023); just 14.5% had fewer than five employees. Census counts stations with convenience stores under the gasoline station code, which is why only 3 employer establishments are counted as stand-alone convenience stores. Six stations had a ZIP 61801 address (ZBP 2023).
Business loan for a convenience store in Urbana, IL
A convenience store's stock (beverages, snacks, tobacco, grocery items) turns over every week, and suppliers deliver on short terms. Inventory financing or a line covers a larger stock-up, and equipment financing covers coolers, freezers, shelving, food-service equipment and the point-of-sale system.
How to buy a gas station in Urbana, IL
- Get the seller's tax returns, fuel volume by month and in-store sales.
- Review the fuel supply agreement: brand, term and any obligations that pass to a buyer.
- Get an environmental assessment of the tanks and site.
- Decide whether the real estate is included or leased.
- Request a term loan for the business purchase, sized to its cash flow.
Can I get a loan to buy a gas station?
A gas station purchase can be financed with a term loan sized to the station's documented cash flow, with the buyer's own cash and possibly a seller note. When the land and building are part of the sale, that portion is a commercial real estate loan, outside the six options here. Partners may require an environmental report on the underground tanks before funding.
How to get a gas station loan in Champaign County, IL
Fuel and in-store sales earn different margins, so partners read both revenue lines separately. A station where the store produces a large share of gross profit presents differently from one that relies on fuel alone. Bring fuel volume, fuel margin per gallon and store sales by category.
How much does it cost to buy a convenience store in Urbana, IL?
The price depends on sales, cash flow, the lease or real estate, and the equipment. A partner sizes the loan to documented cash flow, not to the asking price.
Illustration only, invented figures: a convenience store with $64,000 a year of cash flow before debt sells for $190,000, plus $35,000 of inventory at cost (our sum: $225,000). With $45,000 down, a $180,000 term loan at $3,500 a month takes $42,000 a year (our arithmetic: 12 x 3,500), leaving $22,000 for the owner and reserves.
How to get a loan to build a gas station
Building a new station is a construction and real estate project: land, tanks, canopy, dispensers and a store building. That falls outside the six options here. Equipment for a new station, such as dispensers, point-of-sale systems and coolers, can be requested as equipment financing once the project is underway.
Fuel loads and the cash cycle at an Urbana, IL station
A fuel supplier may draft the station's account for each load within days of delivery. A station selling the load over a week or more has paid for fuel it has not yet sold. A line drawn for each load and paid down as it sells matches that rhythm.
Illustration only, invented figures: a 9,000-gallon load at $3.10 a gallon wholesale costs $27,900 (our arithmetic: 9,000 x 3.10), drafted three days after delivery and sold over eight days.
Permits, tanks and environmental questions around Urbana, IL
Underground storage tanks, fuel dispensers and tobacco and alcohol sales each carry their own permits and inspections. A partner may ask for the tank registration and inspection history before funding.
Remodeling the store side of an Urbana, IL fuel station
A station can add food service: a roller grill, a coffee bar, a pizza oven or a full kitchen. Each adds equipment, and a full kitchen adds a hood and a cook's wages. A store remodel with new coolers and shelving can lift in-store sales, which earn more per dollar than fuel. Request the remodel on a term loan and the equipment on equipment financing, each with its own quote.
Records a partner reads from a Champaign County, IL station
- Fuel volume and margin by month.
- In-store sales by category.
- Bank statements beside the tax returns.
- The fuel supply agreement and the lease.
- Tank inspection records.
Auto repair shops have their own page, auto shop financing , and other stores are on the retail store page . County figures are on Boldmont's page of Urbana, IL figures , and every trade is on the industries page .
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