Frequently Asked Questions (FAQ) 

1. Is PetroMAC a direct lender?

PetroMAC is not a direct lender, we are a mortgage broker and has originated hundreds of millions of dollars of loans doing auto repair shop, gas stations, convenience store and car wash loans.

2. Does PetroMAC pull our credit?

PetroMAC normally will not pull credit. The ultimate lender normally will pull your credit.  As a suggestion, you can use something like Free Credit Report to find out your credit score without it actually pulling your score down.

3. How many sources does PetroMAC submit to?

Years ago we would have only submitted to 1-2 sources, but because of the current credit environment, we will submit to multiple sources now.

4. Does PetroMAC charge up front or application fees?

NO, PetroMAC does not charge up front or application fees for auto repair shop, auto body shop or auto lube center loans.

5. Where does PetroMAC find its sources?

We do "recent sales" searches through any number of sources, UCC lien filings, Freedom Of Information requests (FOIA) to find the most recent transactions done and the bank or the lender that did them.

6. Does PetroMAC charge in addition to origination that the lender will charge?

If the loan is being done as an SBA loan, normally not. If it is done as a 504 loan, normally no more than a half point, if any, will be charged.  On conventional loans, where there normally is no referral fee, we normally will charge no more than a point except in those cases when the loans might be very small.

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

car repair shop loans 

 

 

 

 

 

 

 

 

 

 

NEW 5.35%
FIXED RATE
FINANCING

For more Info
info@autorepairshoploans .com
 


gas station funding

Click Image To View A Short Video On How To Pre-Qualify For Financing

I don’t have time to read all of this! I just want to apply for a loan! Please click here.

Read here the most Frequently Asked Questions  about obtaining financing

Find out why auto repair shop appraisals are different than other commercial properties from Joe Anderson at
 Petroval


I prefer conventional financing. How can I qualify? Listen here:







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