PETROMAC - We Pump Capital Into YOUR C-Store


Construction Document Checklist

Transaction Summary

  • Loan Application
  • Executive Summary
  • Estimated Use Of Proceeds
  • Purchase Agreement
  • Photos Of Property
  • Pro Forma Projections with Assumptions (In absence of financials)
  • Secondary Financing Agreement
  • Copy of recent appraisal, survey and environmental reports (if available)

Borrower/Buyer Information

  • Personal Financial Statement (Dated within 30 days for all who own 20% or more)
  • Resume
  • Last Three Years Personal Federal Tax Returns (for all who own 20% or more)
  • Last Three Years Corporate Federal Tax Returns (for all who own interest in affiliate companies more than 20%)
  • Last Three Months Bank Statement (Or show source of equity infusion)
  • Copy of drivers license, social security card or passport and green card (front and back)
  • Personal Income And Expense Analysis (for all who 20% or more)

Due to the nature of doing car wash construction loans, there are certain additional requirements for loans where a significant amount of the loan proceeds will be used for new construction, rehab or redevelopment of real property. The follow list is typical for most gas station / convenience store / truck stop construction financing but is not necessarily all-inclusive. The list is organized into three major phases:

  • Prior To Loan Closing 
  • Construction 
  • Completion Of Construction 

I. Prior To Loan Closing

A. Information About The Construction Or The Improvements

  • Final Plans And Specs - One is forwarded to the lender and one is forwarded to a construction consulting or consulting firm retained by the lender for their review prior to loan closing and monthly site visits during the construction period.
  • Final Construction Budget- Detail both hard and soft costs necessary to construct the improvements on the property.
  • Final Construction Schedule - Detail the anticipated time frame for completion of each phase of construction.
  • Building Permits - Submit any other licenses or any local, state or federal government approvals required for construction or use of the property.
  • Architect's Contract - In form and substance, standard for the industry.
  • Architect's Certificate - Evidence that the improvements will comply with all applicable zoning, planning, ADA accessibility and seismic regulations.
  • Utility Service Letters - (new contraction) A letter from each required utility (sewer, water, electric, gas, phone) that service is available to the property or will be brought to the site.
  • Access or Easement Agreements - If any are necessary during construction

B. Contractor Information

  • Contractor Qualification Statement - AIA form A305 or other format which details the contractor's financial strength, license, experience, bank and trade references. If required, additional financial and credit information might be required, including permission to do credit verification.
  • Contractor Statement And Authorization - Allowing lender to verify contractor's qualifications.
  • Final Fixed Price Construction Contract - Final construction costs as detailed in the Final Construction Budget must be covered by a fixed price contract without allowances or exclusions.
  • Other Construction Contracts - All major subcontracts inclusive
  • Payment And Performance Bond - The lender may require the bond and will underwrite the General Contractor to determine the need for a bond.
  • Builder's Risk Insurance - Includes course of construction endorsement, worker's compensation insurance and liability insurance.

C. Legal Documentation

These are documents which will be prepared by the lender and forwarded for signature prior to the loan closing. These are in addition to the normal loan documents (e.g. mortgage, promissory note, etc) Some of the documents will require the signature of the contractor, architect and others involved in the construction.

  • Construction Financing Agreement 
  • Construction Security Agreement (SBA Form 1059, if SBA financing)
  • Contractor's Agreement 
  • Assignment Of Construction Contract 
  • Contractor's Indemnity Agreement (Title Company Form)
  • Assignment Of Architect's Agreement 
  • Agreement Of Compliance (SBA Form 601, if SBA financing)
  • ALTA Construction Title Policy And Trust And Construction Escrow Agreement - Title company form with required endorsements - Lender will require all construction funding through an approved title company
  • Soils Report - For a new construction used to design the building foundation
  • Site Plan / Development Map 
  • Plan And Cost Review - Prepared by a construction consulting firm retained by lender
  • Payment Of Construction Administration Fee - Typically 1.5% of the total cost of construction to cover third-party and lender administrative costs during the construction phase. The borrower only incurs the actual costs.

II. Construction

  • Disbursement Requests - The specific requirements will be detailed in the lender disbursement procedures but general conforms to those items listed below. Normally one construction draw per month will be allowed.
  • Owner's Sworn Statement - Approves payment to the general contractor an all other major contractors.
  • Contractor's / Subcontractor's Sworn Statement - Details the amounts to be paid directly to each of the subcontractors or other parties performing work or providing material the project needs. This statement will be accompanied by appropriate supporting documentation (e.g. invoices)
  • Lien Waver / Contractor Affidavit - Interim lien waivers required for each draw request and final, unconditional waives with the final disbursement
  • General Contractor's Application For Payment - AIA Form G702 and G703
  • Settlement Sheet (SBA Form 1050, if SBA financing)
  • Change Orders - AIA Form G701 - All changes will be subject to approval
  • Construction Progress Report - The lender's construction consulting firm will visit the site once a payment request has been received and will review the progress and quality of the work an approve payment.
  • Foundation Endorsement - Upon completion of the foundation to ensure there are no encroachments.

III. Completion

  • Architect's Certification Of Completion
  • Government Approvals - Certificate Of Occupancy (CO) and all other necessary approvals.
  • Notice Of Completion - Contractor's valid and filed notice of record
  • Final Lien Releases
  • Final Construction Progress Report - Via construction consulting firm verifying completion
  • Final Title Policy - including lien-free endorsement
  • Property Casualty / Liability insurance - Evidence that the appropriate insurance coverage is in effect.
  • As-Build Survey - Evidence the final structure, including, but not limited to easements, utility lines,


 To pre-qualify for financing, download the following forms and provide the following information:

  1. Resume 
  2. 2013 Year End Business Financials (Corporate Tax Returns)
  3. 2014 Year-To-Date Business Financials
  4. Business Plan





Loan Submission


Gas Station Convenience Store Loan Submission

Click Image To Learn About The Loan Submission Process


    Mortgage Brokers

Click Here



Gas Station Loans Mortgage Brokers








 Oil Company Websites






Phillips 66










Gas Station Construction Financing Loans


Truck Stop Loans Financing


Petroleum Jobber Financing



Why Use PetroMAC


 Fixed Rate Financing For Gas Stations


Frequently Asked Questions - FAQ


Apply Online For Gas Station Financing


Contact PetroMAC







Low Fixed Rate Financing






NEW 4.5%
For more info email

Gas Station Pre-Qualifying

Click Image To View A Short Video On How To Pre-Qualify For Financing

I don’t have time to read all of this! I just want to apply for a loan! Please click here

Read here the most
Frequently Asked Questions about
obtaining financing

Find out why gas station and convenience store appraisals are different than other commercial properties from Joe Anderson at PetroVAL

What Type Of Financing Is Right For You Or Your Client?
Click Here To Find Out!

Want some cool gas station stuff? Sign Up below:


 Learn Everything You Needed To Know About Environmentals But Didn't Want To Ask!


Listen To Tony Amato About What You Should Look For When Purchasing A Gas Station Or Convenience Store.


Listen To Industry Veteran Bobby Stanton About What You Can Do To Make Your Store More Profitable.


Learn The Good, The Bad And The Ugly About SBA Financing


I Really Prefer Conventional Financing.  Is It Better Than SBA Or Less Expensive?


Can I Get Private Or Hard Money Financing? Is It Rate And Fee Prohibitive?


Is Business Only Financing Availalble? What Are The Criteria?


What Documentation Is Normally Necessary For Traditional Financing?


Can You Get Gas Station / Convenience Store Financing If You Don't Have Great Credit?


Presentation Is Half The Battle In Getting A Loan Approved.  We're Not Mind Readers!


Why Does It Take SO LONG To Be Approved At Times?


 What Is Global Debt Service Coverage And How Does It Relate To You If You Have Multiple Businesses


What Is The Difference Between Loan-To-Value (LTV) and Loan-To-Cost? This Is A MUST Know!


Can You Have A Seller Held Second? What Makes Them Attractive And Unattractive


Don't Forget Closing Costs, Working Capital And Inventory Or Your Deal Might Not Be Approved!


Can Lenders REALLY Make The High Loan-To-Value (LTV) Loans They Claim They Can?


Find Out How Much You Know About The Petroleum Business And If You Pass

What Type Of Financing Is Right For You Or Your Business?

 Discount Electricity

Click Image Above To Learn About Discount Electricity For Dealers And Their Customers!

Car Wash Loans


Click Here For Gas Station Realtors


Click Here For Gas Station Appraisers


Click Here For Environmental Companies










jordan 6 sport blue retro jordans for sale wolf grey 3s kate spade outlet lebron 12 louis vuitton outlet sport blue 6s kate spade outlet coach outlet kate spade handbags coach outlet coach factory outlet sport blue 6s sport blue 3s wolf grey 3s louis vuitton outlet new jordans 2014 sport blue 6s louis vuitton outlet lebron 11