ValueXpress is talking with a southern community bank about working together in originating government guaranteed loans [SBA 7(a), 504 and USDA B&I] in Mississippi, Louisiana, southern Alabama and the panhandle of Florida. The relationship would extend ValueXpress’ direct government guaranteed lending relationships to cover the entire Southeast. ValueXpress will serve as the “back office,” processing and servicing government guaranteed loans on behalf of the bank while working with the SBA.
“The relationships we have established in Mississippi are working very well,” commented Jay Bhakta, a senior loan originator with ValueXpress who is located in its Jackson, MS office and is managing the southeastern banking relationships. “All of the SBA loans we have processed have been approved, and by providing the processing function, it has allowed the loan officers to stay in the field sourcing new loans,“ said Bhakta.
The new relationship will allow ValueXpress and its partner to service more clients in a wider geographical region,” commented Michael D. Sneden, Executive Vice President of ValueXpress. “We are actively seeking additional banking partners in the Middle Atlantic states and the Midwest to fill in our target footprint, which is all states East of the Mississippi River and Texas.”