Gas station financing —
environmental and UST
done right.
Branded and unbranded fuel sites, with or without c-store and QSR. Specialty asset = specialty lender. We screen environmental and UST risk before your application goes to a lender.
Four financing structures
for fuel-site real estate.
Branded vs unbranded. Owner-operator vs absentee. Each combination has its own lender preference and pricing tier.
Branded Acquisition
$2M – $20MEsso, Petro-Canada, Shell, Pioneer, Ultramar. 55–65% LTV. Branded volume + supply agreement strengthens the file.
Unbranded / Independent
$1M – $10MIndependent fuel + c-store. 50–60% LTV. Specialized lender list. Stronger operator profile required.
Refinance + Working Capital
$1M – $10MRefinance existing mortgage at a lower rate and extract working capital. Common after a strong year or supply-agreement renewal.
Bridge / Reposition
$1M – $10MDistressed sites, environmental remediation, vacancy stabilization. Private/MIC lender, 1–2 year term.
From offer to funded —
60 to 120 days.
Paced by environmental Phase I and UST review.
We pre-screen both before submission — no surprises at conditions.
Site + sponsor intake
Volumes, brand agreement, c-store/QSR mix, T12, sponsor profile, prior fuel-site experience. We pre-screen environmental history and UST compliance before a single lender sees your file.
Lender shortlist + indicative pricing
2–4 fuel-site-active lenders sized for branded vs unbranded, owner-op vs absentee. Indicative pricing in 10–15 days — not 6–10 weeks.
Environmental + UST coordination
Phase I ESA, Phase II if triggered, UST compliance certificate, fuel system review. We coordinate the full workstream so the deal is never surprised at conditions.
We finance across
every site profile.
Tap any scenario below to see how we approach it.
If you’re…You're acquiring a branded Esso, Petro-Canada, or Shell station
You're acquiring a branded Esso, Petro-Canada, or Shell station
Branded supply agreements and documented volumes are your best pricing lever. 55–65% LTV is achievable on a clean Phase I with a strong operator track record. We package volumes, brand agreement, and c-store contribution together so lenders see the full picture.
Start my fileIf you’re…You own or are buying an independent fuel site with a c-store
You own or are buying an independent fuel site with a c-store
Unbranded sites have a narrower lender list, but a strong c-store adding 30–50% of site EBITDA can move the deal materially. We know which lenders price independent + c-store files competitively and avoid the ones that don't.
Pre-screen my fileIf you’re…Your site has a QSR drive-thru (Tim Hortons, A&W, McDonald's)
Your site has a QSR drive-thru (Tim Hortons, A&W, McDonald's)
QSR income diversifies away from fuel margin and lenders price that favourably — typically 25–50 bps tighter than a fuel-only site. We model each revenue stream separately so lenders credit the full, diversified cash flow.
Model my NOIIf you’re…You're switching brands or financing a c-store conversion
You're switching brands or financing a c-store conversion
Brand-switch capex — commonly several hundred thousand dollars — can often be layered into the mortgage. The incoming brand frequently pays a meaningful incentive that flows through the deal economics and improves your net cost.
Explore conversion financingIf you’re…Environmental Phase II has been triggered on your site
Environmental Phase II has been triggered on your site
Contamination does not automatically kill financing. Remediation cost, environmental insurance, and a credible cleanup plan can let a private or specialty lender price the risk — with a refinance into conventional money once remediation is certified.
Discuss my fileIf you’re…Your site is distressed, vacant, or in a stabilization period
Your site is distressed, vacant, or in a stabilization period
Bridge lenders and MIC capital can fund while you stabilize the asset. Once a 12–18 month track record is established, a refinance into conventional commercial financing is typically available at meaningfully lower rates.
Explore bridge optionsFuel-site lending is a
closed network. We’re in it.
Only a short list of lenders actively finance gas stations. We know which ones say yes, and for which site profiles.
| Capability | Our approach | Traditional bank |
|---|---|---|
| Lenders shopped | Fuel-site-active specialists | Often declined by policy |
| Branded vs unbranded | Separate lender lists, bespoke fit | One blanket policy |
| Environmental Phase II | Coordinated by our team | Sponsor's sole responsibility |
| UST compliance review | Pre-screened before submission | Surprise at conditions |
| Supply-agreement comfort | Coordinated with brand directly | Sponsor figures it out |
| Time to first quote | 10–15 days | 6–10 weeks |
| C-store + QSR uplift | Modelled into NOI | Often ignored |
Gas station financing
questions, answered.
LTV, environmental, UST, rates, and documents — answered plainly.
Why are gas stations harder to finance than other commercial?
Environmental risk (UST leaks, fuel spills, soil/groundwater contamination) is real and historically expensive to remediate. Most generalist banks decline gas stations to avoid the risk altogether. The short list of lenders that actively finance fuel sites have specialized environmental underwriters and pricing models for the risk, and we work with them.
What LTV can I get on a gas station?
Branded with strong volumes, c-store, and clean environmental: 60–65% LTV. Branded fuel-only or older site: 55–60% LTV. Unbranded independent: 50–55% LTV. Sites with environmental issues require private/MIC lenders or vendor take-back to bridge the gap.
What's UST compliance and why does it matter?
Underground storage tanks must meet provincial rules; in Ontario that is the TSSA-administered liquid fuels regime. Fuel tanks are regulated by TSSA under the Liquid Fuels Handling Code. Older single-wall tanks may be grandfathered, but many lenders will not fund them, and a lapsed licence triggers a double-wall upgrade. Lenders require a UST compliance certificate before funding. We pre-screen tank age and compliance status so we don't surprise the lender at conditions.
Will lenders finance unbranded / independent fuel sites?
Yes, but with a narrower lender list and tighter LTV. Strong operator profile, clean environmental, and visible volumes are the table stakes. Independent sites with c-store / QSR combos finance more easily than fuel-only.
What's the impact of c-store and QSR on the financing?
Materially positive. C-store contributes 30–50% of site EBITDA on most modern fuel sites; QSR (especially drive-thru Tim Hortons or A&W) can add another 15–25%. Both diversify revenue away from fuel margin and lenders price that diversification — usually 25–50 bps tighter than fuel-only.
Can I do a brand-switch or rebrand and finance the capex?
Often, yes. On a brand-switch (for example Esso to Petro-Canada) the capex envelope (commonly several hundred thousand dollars) can be layered into the mortgage, subject to lender approval. The new brand often pays a meaningful brand-incentive that flows through the deal economics.
What's the typical gas station mortgage rate?
Illustrative broker estimates; reviewed October 2026 (not quotes): branded with strong volumes, roughly 5-yr Government of Canada bond yield + 250–375 bps; unbranded, + 325–450 bps; sites with environmental issues or short brand agreements, private/MIC at roughly 9–13%. Pricing depends heavily on volumes, operator strength, and environmental status.
What documents will I need?
Site: 24-month volume reports, brand agreement, c-store/QSR financials, T12, environmental Phase I (Phase II if any historic spills), UST compliance certificate, fuel system review. Sponsor: prior fuel-site experience, T1, NOA, T2 financials, REO schedule, banking, government ID.
We’ll try to beat your rate.
If we can’t, we pay you $500.¹
¹ Rate Beat: eligible Big-6 bank written offers only · same product, term & amount · $500 paid to you or your nominated charity at closing · conditions apply
Commercial mortgage specialists by city
Gas station and fuel-site financing is available across Ontario and with licensed partners in other provinces. Our commercial desk is based in Vaughan and has placed fuel-site deals in Toronto, Ottawa, Hamilton, Mississauga, and throughout the GTA.