USDA B&I Loan Purchase
- 1st Mortgage:
- Term: 25 years
- Prepayment Penalty: 5,5,5,5,5
The lender facilitated the purchase of an existing ARCO gas station and c-store using the USDA B&I Loan Program. The subject property is located off 86 Hwy (west of Salton Sea) and Marina Drive in Thermal, CA. This highway brings traffic from Mexico via Calexico to the South. The gas station and c-store sits on a 4.5 acre lot and includes a 10,500 sq. ft building. It sells ARCO branded fuel in the front and unbranded diesel, gas and racing fuel in the back of the station. The backlot is designed to allow large trucks to fill gas as well as accommodate recreational vehicles and other large vehicles that would not be able to use the MPD’s in the front. It has truck and RV parking spaces with 10 dump stations for RV’s, 10 MPD’s in the front and 18 diesel MPD’s in the back.
Thomas USAF is happy to have done its part in retaining/saving rural jobs by providing liquidity to the lender. Whether you are a veteran in the business or working on your first deal under the USDA B&I Loan Program, you will be glad you contacted Thomas USAF to gain insights into structuring the deal in an increasing interest rate environment.