ValueXpress obtained a $225,000, 10-year self-amortizing leasehold improvement loan commitment from the SBA 7(a) 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 ValueXpress’s Mississippi banking partner, Guaranty Bank. The SBA approved the loan seven days after submission. The borrower, Parsotam Rolling Fork, Inc., was very pleased with the turnaround on the loan, which will allow the restaurant to open on schedule at the end of September.
“We are extremely pleased with our relationship with ValueXpress and their expertise in navigating the SBA 7(a), 504 and Business and Industry loan programs for the benefit of Guaranty Bank and its customers,” commented Jerry Gillespie, chief credit officer for Guaranty Bank. “We intend to increase our lending volume using these programs because ValueXpress can provide the back-office manpower we need to process loan applications in a timely manner to meet our clients needs.”