ILLINOIS · NAICS NAICS 447 and 457 families
Illinois gas station and c-store deals run on heavy interstate freight along the I-55, I-57, I-80, and I-90 corridors and dense metro and suburban sites. Studies translate fuel volume, inside-sales mix, foodservice capture, and brand standards into defensible projections, and align the Phase I environmental file with lender and SBA expectations.
FEASIBILITY TRIGGER
Gas stations are special-purpose under SOP 50 10 8, so a third-party feasibility study is normally required, Phase I environmental due diligence applies, and elevated equity is the norm.
Between FY2010 and FY2026, SBA lenders approved and disbursed 470 7(a) and 504 loans for gas station and c-store projects in Illinois, totaling $419.1 million in approved financing at an average of $892,000 per loan. Illinois ranks #8 of 38 states tracked for gas station and c-store SBA lending volume and accounts for 3.1% of national gas station and c-store SBA dollar volume. 90.9% of these loans were made under the 7(a) program, the remainder under 504. 48 loans have been approved since FY2024.
| Disbursed loans (FY2010–FY2026) | 470 |
| Approved volume | $419.1 million |
| Average loan size | $892,000 |
| 7(a) share | 90.9% |
| Approvals since FY2024 | 48 |
| State rank by loan count | #8 of 38 |
Among the 368 seasoned loans in this segment (approvals FY2010–FY2021), 10.3% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for gas station and c-store is 4.3%, against 7.3% across all industries. That performance runs above the national benchmark for this asset class, which is a factor lenders weigh in their credit decision.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 10.3% adverse-resolution rate against the national gas station and c-store benchmark of 4.3% tells credit committees to scrutinize revenue projections and coverage assumptions closely on Illinois deals in this class. A rigorous third-party feasibility study — built on documented demand, defensible pricing, and stressed coverage — carries meaningful weight in that underwriting conversation, particularly at an average loan size of $892,000 across 470 loans.
Every Illinois gas stations and c-stores project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Illinois projects often fit SBA 504 where owner-occupied real estate anchors the deal, with the 50/40/10 structure delivering up to 90 percent financing at a fixed debenture rate, while SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
The I-55, I-57, I-80, and I-90 corridors carry some of the heaviest interstate freight volumes in the country through travel center and c-store trade areas.
For a national view of this asset class, see our gas station and c-store SBA feasibility overview, and read our related analysis in the gas station and c-store lending research on our blog. Lenders and CDCs can order an SBA gas station feasibility study tested against SBA’s Appendix 7 environmental rules.
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
Book a MeetingOur SBA feasibility study consultants prepare fuel, convenience store and travel center studies for lenders, CDCs and sponsors. See pricing, methodology or request a fixed fee quote.
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