If you want a test in patience, you’ve met your match. Gas stations and convenience stores with fuel have never been the darling of the lending industry. Construction financing is even worse. There are any number of reasons why this is the case.1) The overall environment is not conducive to lending in general2) The petroleum retail (C & G) business is not a favorite of the lending community3) Frequent cost overruns make construction financing more risky to a bank, especially if it is a high advance (LTV)4) Commercial construction lending is something where lenders tend to run hot and cold on and when they run hot, it’s usually for short periods of time.5) The length of time it takes to construct (usually longer than anticipated) makes doing construction loans prohibitive.6) Lenders in all cases will consider this a start up business which is very difficult to do.What are your options? First, if this is your first gas station / convenience store that you have managed or owned, you will have a VERY difficult time getting financing. If you have a partner, even with a minority ownership interest, it will be less difficult. Borrowers that currently own and operate gas stations and convenience stores have the least difficult time obtaining financing because from an underwriter’s point of view, should the new business take a while to get off the ground, the borrower has income from other sources and they are not totally dependent on the profitability of the new venture.If you do not already own the land or have not already purchased the land where you intend to build, it will be less desirable to a lender. The closer you are to being able to break ground, the closer you are to having legitimate financing options. If you are still waiting for quotes from construction companies and vendors, it will be less desirable to a lender. The closer you are to knowing exactly what your costs will be, the higher your probability goes up of obtaining financing.In most cases, you will be required to obtain a feasibility study. Spending a few thousand dollars is money well spent and will most likely make you aware of your demographics and competition you may or may not be aware of. If an oil company or jobber has done their own study, they will have their own motivation to bring you on as a client. A hands off third party report will in most cases be more reliable.You should make yourself prepared to accept private money financing for the project and then get permanent financing. If you accept private financing, typically you will pay higher rates (8-10% interest only) which you will be for 3-12 months, depending on the anticipated length of time for construction. Although the rate will be higher, it might be the quickest option for financing. Be prepared to come up with more out of pocket money for the private financing and obtain a higher advance on your permanent loan. It is possible that you can get conventional construction financing, but do not expect to get more than a 70% advance of construction costs. If you are pursuing SBA 7(a) or 504, it is possible that you can get a 80-85% advance, but do not hold your breath.Be prepared for any of your sources to sour on the deal. It isn’t necessarily that your deal is bad but that lenders are very mercurial on construction loans. Always work multiple sources on gas station construction financing. Even doing this, there are no guarantees on gas station construction loans.
How Scaffolding Poles Assist in Construction Projects
In most, if not all construction projects, quality and efficacy are of great importance in building structures. There is that need to finish on or before the deadline and to follow the necessary standards to provide the public with a building that’s safe and conducive to all users. The construction business is keen to take into consideration the materials they use, not just in the overall building but also in the temporary structures surrounding it.The temporary structures that make the construction process more efficient in transporting loads or materials are also seen to be of standard to give the construction workers the security they deserve. One of these simple but sturdy and very useful construction support materials is the scaffolding poles or props. Read on to know how these simple steel poles are able to help in construction projects.Support materials while being removed or placed.One of the uses of the adjustable steel poles or props is to support materials while being removed or placed in their position. For example, if you are replacing the old material in your alcove or ceiling, you can just place these poles in there, so that the old material does not have to fall on the ground and unnecessarily hit anyone. For new construction projects, the scaffolding poles can be used to put up decks in order to hold materials and easily transfer them from one level to another usually from upper levels to lower levels.Easily accessible by construction managers.The scaffolding poles are not just easy to use with their adjustable poles and easy lock system but are also available either for rent or purchase. Some construction businesses also offer for hire option to take on the burden from the construction workers of putting up the steel poles. This is a lot easier for others as there is lesser responsibility of the workers on taking care of the props. Though for bigger construction groups, purchasing quality support poles are better to ensure that the project is always on the go and not waiting on the availability of the needed support poles.Various sizes can adjust to the construction needs.Steel props are adjustable in order to handle loads or materials in construction projects but also come in different sizes to cater to different construction needs. From regular sized steel props that can weight from 10 to 13 kg to extra long sizes that can weigh up to 30 kg. Regular sized scaffolding props can hold up to 40KN while the long ones can carry 7KN to be on the safe side. This means that the higher the poles or props go, the lesser the load it can carry. So assess accordingly which you will choose for your construction temporary structures.Construction may be a complex business but knowing its components will make it easy for the outsiders to understand. What is usually seen is the finished product and how it will be of great use to the public. But in any infrastructure the construction of it is the measurement of its quality and assurance that it will be used for a long time.
Different Types of Heavy Construction Equipments
There are many different types of heavy construction equipments used for various construction and building purposes. Some of the most common types of equipments used in construction sites include bull dozers, cranes, excavators, concrete mixer, backhoes, forklifts and so forth. Most of these heavy equipments are designed to move construction materials or large amount of earth. Cranes are often used for demolishing huge buildings and structures. It is also used to transport materials for erecting buildings.Types of Heavy Construction EquipmentsBull dozers are mainly used to move earth over a space and to pull down trees or break large stones. Bull dozers are extra powerful machines which can be used to loosen and move dirt and other hard substances. Excavators are basically used to lift materials into trucks. It is one of the most widely used construction equipment. Cranes are basically weight lifters. It includes long arms and hooks which can be used to transport heavy materials during construction purposes. There are various types of cranes which are designed for different types of construction works.Heavy equipment used in construction sites also includes the backhoe which is used for digging and lifting materials. It is considered to be one of the most versatile machineries.Concrete mixer is one of the most versatile and indispensable heavy equipment machinery used in most of the construction sites. It can be used for various types of construction works. The most important function of the concrete mixer is to mix cement, sand and water to form concrete. The mixer is combined in a revolving drum that constantly churns the mixture to form the right consistency.The cement mixer combines these elements homogenously so that it can be used efficiently by the construction workers without the usual hassles. It is widely used in most of the construction sites as it proves to be quite efficient in forming the mixture. It also gives ample amount of time to the workers to channelize their time and efforts in other areas.Today concrete mixers are available in a huge variety of capacities. There are both engine powered and electric powered mixers available quite easily. Most of these heavy equipment machineries are made available through online business portals at reasonable price rates.Portable cement mixers are also made available today. It is widely used by most of the engineers as it is smaller in size and more flexible. It can be quite difficult to maneuver large machineries, so most people prefer to use portable cement mixers.Cement mixing can be done as dry or wet mixing according to the construction requirements. Sand is added to the cement to begin the dry mixing. Water is added only in the later stages. Wet mixing is quite different from dry mixing. Nevertheless, cement mixers are considered to be quite essential to mix the cement and obtain right consistency.Today there are various types of concrete mixers available in many of the online and offline stores at different price rates. Heavy construction equipments are available in various sizes to suit different types of construction purposes.