ValueXpress obtained a $250,000 conventional first-mortgage loan approval from one of its Mississippi banking partners for the refinancing of a gasoline station located in a suburb of Jackson, MS. The facility is a 3-bay, 6-pump operation that provides 3 grades of gasoline plus diesel. The station is located on a high traffic volume intersection with easy in-and-out access. As a result, the station does over 2 million gallons of fuel sales annually.
“This is a good client of mine who needed to get out of his existing bank, but had utilized his SBA authorization,” commented Jay Bhakta, a senior loan originator at the ValueXpress Jackson, MS office. “It is tough to find conventional gasoline station loans right now, but with our excellent banking relationships in Mississippi, I was able to place this loan for my client.”