PENNSYLVANIA · NAICS NAICS 447 and 457 families
Pennsylvania gas station and c-store projects defend trade area against the country's most competitive convenience operators. Studies translate traffic counts, fuel margins, inside sales, and food service into projections, reconcile Phase I environmental scoping against site history, and stress-test coverage where the inside-sales mix increasingly carries the model.
FEASIBILITY TRIGGER
Gas stations and c-stores 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 expected.
SBA 7(a) and 504 lenders funded 239 gas station and c-store projects across Pennsylvania between FY2010 and FY2026, moving $102.7 million in approved capital at an average ticket of $430,000. That volume places Pennsylvania at #15 of 38 states measured for gas station and c-store SBA activity, or 0.8% of national gas station and c-store dollars. The 7(a) program carried 94.1% of the loan count, with 504 taking the balance, and 35 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 239 |
| Approved volume | $102.7 million |
| Average loan size | $430,000 |
| 7(a) share | 94.1% |
| Approvals since FY2024 | 35 |
| State rank by loan count | #15 of 38 |
Among the 175 seasoned loans in this segment (approvals FY2010–FY2021), 4.0% 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 is broadly in line with the national benchmark for this asset class.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
An adverse-resolution rate of 4.0%, close to the national gas station and c-store benchmark of 4.3%, puts Pennsylvania deals in this class on ordinary SBA credit footing. Across 239 loans averaging $430,000, the underwriting question is deal-specific: a rigorous third-party feasibility study is where documented demand and stressed coverage decide the credit outcome.
Every Pennsylvania 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.
Pennsylvania projects most 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 PIDA's low-interest second-mortgage loans stack directly behind the 504. SBA 7(a) covers acquisitions, working capital, and equipment, and from July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Pennsylvania is the home market of both Wawa and Sheetz, which makes it the most competitive convenience corridor in the country; an independent deal must defend its trade area against the best food-service c-store operators in America, while the Turnpike and I-80 carry the freight volumes.
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: Oregon, Rhode Island, Texas.
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.
California, Texas, Florida, New York, Illinois, Georgia, New Jersey, Ohio, Pennsylvania, Michigan, Arizona, Colorado, Washington, Virginia, Minnesota, Maryland, Wisconsin, Missouri, Indiana, South Carolina, Oregon, Connecticut, Nevada, North Carolina, Tennessee, Massachusetts, Nebraska, New Mexico, West Virginia, Idaho, Montana, Maine, New Hampshire, Rhode Island, Delaware, Iowa, Kansas, Wyoming.