MARYLAND · NAICS NAICS 447 and 457 families
Maryland gas station and convenience store deals run along the I-95 corridor between Baltimore and Washington, which carries some of the heaviest commuter and freight volumes on the East Coast through fuel and convenience trade areas. Lenders require Phase I environmental due diligence alongside a third-party feasibility study under the SOP.
FEASIBILITY TRIGGER
Gas stations and c-stores are special-purpose; a third-party study is normally required, with Phase I environmental due diligence and elevated equity.
Maryland generated 91 SBA-disbursed gas station and c-store loans between FY2010 and FY2026, worth $40.4 million in approved 7(a) and 504 financing at an average of $444,000 per deal. Ranked #29 of 38 states for gas station and c-store SBA volume, the state captures 0.3% of national gas station and c-store dollars. 90.1% of the loans ran through 7(a) with 504 covering the remainder; 17 approvals have posted since FY2024.
| Disbursed loans (FY2010–FY2026) | 91 |
| Approved volume | $40.4 million |
| Average loan size | $444,000 |
| 7(a) share | 90.1% |
| Approvals since FY2024 | 17 |
| State rank by loan count | #29 of 38 |
Among the 68 seasoned loans in this segment (approvals FY2010–FY2021), 8.8% 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 8.8% 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 Maryland 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 $444,000 across 91 loans.
Every Maryland 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.
Maryland projects often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, and 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-95 corridor between Baltimore and Washington carries some of the heaviest commuter and freight volumes on the East Coast through fuel and convenience 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.
Compare neighboring markets: Maine, Massachusetts, Texas.
Public SBA and CDC program records, cited as program evidence
SBA 504 through B:Side Capital with InBank
Convenience store and fuel concept, national program evidence
Denver, Denver County, Colorado
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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