ValueXpress obtained a $2.685-million SBA 7(a) first-mortgage loan commitment with its banking partner, Fidelity Bank, for a 3-story, 65-room limited-service franchised hotel located in Walker, Louisiana. The hotel is situated in the Denham Springs region of eastern Louisiana; this small community in Livingston Parish is located 14 miles east of the state capital of Baton Rouge.
The hotel offers easy access to nearby activities, attractions, businesses and cities, including Denham Springs, Baton Rouge and New Orleans. Denham Springs is known for its antiques stores, art galleries and a revitalized downtown area; this small town features tree-shaded neighborhoods, excellent parks and a world-class golf course.
“This is a purchase transaction that I worked hard to get approved,” commented Jay Bhakta, a senior loan originator at the ValueXpress Jackson, Mississippi office. “Originally, the ownership structure did not present enough experience to get the loan approved. I worked with Fidelity and the client to bring more experience to the ownership structure and got the loan approved.”