Heathbend Credit helps gas station and convenience store owners in Minot, ND request funding for fuel loads, store inventory, pump and tank equipment, remodels and station purchases. The page covers the fuel-retail cash cycle, gas station loan requirements, stocking costs and Ward County gas station figures.
| Fuel stations with payroll, Ward County, ND | 32 with payroll in 2023 (CBP, code 4471) |
|---|---|
| Employees | 509 (CBP 2023) |
| Under five employees | 12.5% |
| Fuel stations inside ZIP 58701 | 22 (ZBP 2023) |
Fuel: Big Money In, Big Money Out
A fuel delivery is paid for on the supplier's terms, and the fuel then sells over time. Card fees take a bite from every sale. One price swing or one delayed card settlement can squeeze the account.
Funding for the fuel side can be short and revolving: a line of credit or inventory financing that covers the gap between paying for a load and selling it.
The Store: Stock, Coolers and Food Service
Inside, the stock is broad: many products, some with short shelf lives. Coolers, freezers, coffee and fountain equipment, and food service gear are the expensive pieces, and they fail at inconvenient times.
Equipment financing spreads the cost of coolers and food service equipment over their working lives.
Stocking a Convenience Store: How to Price the Opening Order
It depends on the size of the store, the product mix and whether it sells food, tobacco or alcohol. We do not have local figures to quote. The useful approach is to ask suppliers for an opening-order estimate by category and add a buffer for items that will not sell. For an existing store, your current inventory count and turn rate tell you more than any average.
Pumps, Tanks and Canopies
Dispensers, payment terminals at the pump, tank monitoring and canopy lighting are long-lived equipment. Replacing them is a large project that suits equipment financing for movable pieces and a term loan for work tied to the site. Underground tank work may carry its own rules and inspections; confirm with the relevant agencies.
Gas Station Loan Requirements Partners Commonly Look At
- Fuel and store sales reported separately, for twelve months or more
- Bank statements alongside the card processor's monthly reports
- The fuel supply agreement, if branded
- The lease or deed for the site
- Equipment age and condition, especially pumps and tanks
- Existing loans and advances
For a station purchase, partners also want the seller's financials and an equipment inspection.
Gas Station Financing for a Purchase
Buying a station combines real estate, equipment, inventory and goodwill. Partners usually look at each part: the property, the equipment's condition, the opening stock and the business's track record. A term loan is the common structure, with stock sometimes financed separately.
An Illustrative Cooler Replacement
Illustrative only. A convenience store's walk-in beverage cooler needs replacing at $28,000 installed. Paying cash would leave the store unable to pay for the next fuel load. Financing the cooler over several years, secured by it, keeps fuel and store cash flowing.
Fuel Station Counts for Ward County, ND
County Business Patterns counted 32 gasoline station employers in Ward County, ND in 2023, employing 509 people. Only 12.5% had fewer than five employees, against 51.2% of all Ward County employer establishments. ZBP counted 22 in ZIP 58701. Convenience stores without fuel are not published at their own code for the county; Nonemployer Statistics counted six without payroll in 2024 (NAICS 44513).
The broader retail page covers shops in general. County figures are on the Minot, ND page and all sectors on the industries page.
By Heathbend Credit · Updated
