ValueXpress Closes $225,000 SBA 7(a) Loan to Construct Leasehold Improvements for a Subway Restaurant; Borrower Plans Call for 10 Additional Sites

ValueXpress closed a $225,000, 10-year self-amortizing leasehold improvement loan program to construct leasehold improvements for a Subway restaurant located in Rolling Fork, Mississippi. The loan was underwritten and submitted to the SBA on behalf of Guaranty Bank, the Mississippi banking partner of ValueXpress.

“The borrower was extremely pleased with the loan process and has requested that we finance an additional 10 locations,” said Jay Bhakta, who manages the ValueXpress loan office in Mississippi. “Since each location requires $225,000, this would have exceeded the SBA limit of $2 million; however, with the new Small Business bill expected to increase the SBA limit to $5 million, we will be able to accommodate the client, which makes me very pleased,” said Bhakta.

This entry was posted in The Banker's Mortgage Conduit, Valuexpress and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s