Main Street Registry

Holiday Inn Express & Suites Chesapeake

Chesapeake, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Holiday Inn Express & Suites Chesapeake is a hotel business in Chesapeake, Virginia, classified under hotels (except casino hotels) and motels. The company financed real estate or equipment through an SBA 504 loan of $2,427,000, with United Bank as the lender and Business Finance Group, Inc. as the certified development company, and the loan was approved on July 24, 2026.

SBA 504 loan, approved Jul 24, 2026

$2,427,000 SBA portionCDC: Business Finance Group, Inc.25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$2,427,000
Bank portion
$5,092,500
Estimated project size
$8,355,000 (estimated)
Estimated owner equity
$835,500 (estimated, about 10% of the project)
Bank lender
United Bank, Fairfax, VA
CDC
Business Finance Group, Inc.
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
July 24, 2051 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
20
Business type
LLC or partnership
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn Express/Holiday Inn Express & Suites
Project location
Chesapeake City County, VA
SBA district office
Richmond District Office
Congressional district
VA-3
Collateral
Yes

Estimated share of project by source

Bank 61% SBA (CDC) 29% Owner 10%

  • Larger than 47% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in Virginia: $1,938,955.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Virginia