Ivybank Finance, a small-business funding service in Quincy, Illinois, covers gas station and convenience store financing: store and fuel inventory, pump and cooler equipment, and loans to buy a gas station business. Adams County, IL had 26 gasoline stations with paid employees in 2023, with 230 employees (CBP), and partners review each request.
At a glance
- Adams County, IL fuel stations with paid staff
26 (CBP 2023)
- Employees
230 (CBP 2023)
- Stations in ZIP Code 62301
11 (ZBP 2023)
Adams County, IL fuel station counts, 2023
County Business Patterns counted 26 gasoline stations with paid employees in Adams County, IL in 2023, with 230 employees and $7.1 million in annual payroll; only 4, 15.4%, had fewer than five employees (CBP 2023, NAICS 4471). 11 were in ZIP Code 62301 (ZBP 2023).
Convenience stores without fuel are not published separately in the county's employer counts; Nonemployer Statistics counted 5 convenience stores without paid employees in 2024 (NES 2024).
Convenience store funding in Quincy, IL
A convenience store's funding needs are stock, coolers and freezers, a remodel, and payroll. Stock turns over within days and is paid to many suppliers on short terms. A line of credit sized to a week or two of purchases carries it.
Coolers, freezers, food-service equipment and point-of-sale systems fit equipment financing; a store remodel fits a term loan.
Small business loans for gas station purchase: what Quincy, IL owners should know
Buying a gas station combines several purchases: the business, its equipment, its inventory and, in many sales, the property. The property is a commercial real estate loan, which Ivybank Finance does not arrange. The business, equipment and inventory can be funded through the types on this site.
Partners read the station's fuel volume, store sales, the fuel supply agreement and the condition of the tanks and pumps. A term loan covers the business price; inventory at closing can be funded separately.
Gas station lending: what Quincy, IL owners should know
Gas station lending is shaped by the fuel supply agreement. A branded station buys fuel under a contract with a supplier, which may include terms on volume, branding and what happens if the station is sold. Partners read that contract alongside the station's records.
Fuel margins are thin compared with in-store sales, so partners look at the store's sales as closely as the fuel volume.
Gas station financing
Station financing covers three groups of equipment: fuel dispensers and payment terminals, tank monitoring systems, and store equipment such as coolers, freezers and food-service lines. Dispensers and store equipment can be financed against their value.
How to buy a gas station business
The steps to buy a gas station business run in this order: agree terms with the seller, review the fuel supply agreement and the tank records, arrange environmental checks, arrange funding for the business and the property, and close.
- Letter of intent with price and what is included.
- Seller's tax returns, fuel volume reports and store sales reports.
- Fuel supply agreement and any assignment terms.
- Tank and environmental records.
- Funding request for the business, equipment and inventory.
How to get a loan to buy a gas station for an Adams County, IL business
A request to buy a station in Adams County, IL is read in parts. The property loan comes from a bank or commercial real estate lender; the business, equipment and inventory can come through a request here. Keeping the parts separate in the request lets a partner read each one on its own terms.
For the store's stock at closing, see inventory financing.
Fuel and store stock for a Quincy, IL station
A fuel delivery is paid on the supplier's terms, which can be short, while it sells over days. Store stock is bought from many vendors. Both are inventory, but fuel turns over fastest.
Illustration only, invented figures: a station takes a fuel load costing $28,000 every five days and sells it in five days. If the supplier wants payment in three days, the station carries the load for two days before it has sold through, needing about $11,200 (our arithmetic) on hand at any time. A line sized to that covers the timing.
Advances and loans at a card-heavy station in Adams County, IL
Stations take card sales all day, so a merchant cash advance is sometimes offered. The funder buys future receipts rather than lending. Total every remittance and compare it with a line of credit or term loan before choosing.
Fuel sales add large card volume, so an advance collected as a share of all card sales also takes a cut of every fuel sale; check that against what the station keeps per gallon.
Store remodels and food service at an Adams County, IL station
Adding food service, a coffee bar or new coolers changes a station's store sales more than its fuel sales. The equipment fits equipment financing; the remodel around it fits a term loan.
Ask the fuel supplier whether the supply agreement offers any support for store upgrades, and whether a remodel changes the agreement's terms. Bring both the remodel quote and the supply agreement to the first call.
Records a partner reads for a station in Quincy, IL
- Statements from the business bank and the card processor.
- Gallons sold and inside-store sales reports.
- The fuel supply agreement.
- Tank records.
- Tax returns for the business.
The retail page covers other stores; county figures are on the Quincy, IL data page.
By Ivybank Finance · Updated