$4,100,000
This convenience store company opened its doors in the early 1900s with one small convenience store. Since then they have opened fifty more stores and gas stations. These stores have evolved with the needs of consumers, pointing out that in the late 70s you wouldn’t find ATMs or energy drinks at their stores. Now, you will. And, you’ll find a lot more than that. Their goal for customers is convenience. They promise quality service when and where people need it.
The challenge with this transaction was the nature of the collateral. Many times, c-store collateral is considered “soft” which has low appetite among lenders and a very low resale value. We were able to get the customer low payments and significant tax advantages which made the deal a home run!