K&H Bros

The Opportunity

Inderjit, who has owned and operated several gas stations and c-stores, had been waiting for the perfect opportunity to build one from the ground up. The location needed to be near a city, close to an interstate, and between other high-traffic areas.

When Inderjit found the perfect lot in Redding, California, he quickly snatched it off the market with a conventional loan. The land checked all the boxes: directly southbound off I-5, near a city and industrial park, and midway between the popular weekend getaway destination, Lake Shasta.

Perfect property acquired Inderjit now needed to find a lender to help him build a gas station and c-store that would cater to a diverse customer base, from city-dwellers to truckers to local industrial workers.

The Challenge

Acquiring financing for a gas station construction project can be challenging, especially with conventional lenders who often shy away from such ventures due to environmental concerns and other factors. Inderjit turned to Celtic Bank, a preferred SBA lender, and one of its experienced loan officers, Jim Mueller.

Jim has built a strong reputation in the gas station financing industry, having closed hundreds of millions of dollars in loans in his career. The SBA loan program was designed to help businesses in specialized industries, like gas stations and hotels, get affordable financing. Celtic Bank is a top 5 SBA lender known for its willingness to fund gas stations nationwide.

For Inderjit, his experience with Jim and Celtic lived up to all the hype. Jim made an often-overwhelming SBA process simple, and our in-house SBA construction management team ensured construction stayed on schedule and in-budget.

Because of Inderjit’s strong industry experience and good credit, Celtic Bank was able to extend a $5 million SBA 7(a) loan to refinance the loan for the land and fund the construction of the gas station and c-store.

The Solution

Although still under construction, the project will open in January 2024. Financing from Celtic Bank was integral to Inderjit fulfilling his dream of building a gas station and c-store from the ground up, creating a business that promises to thrive in a prime location.