Main Street Registry

Holiday Inn Express Boston-Milford

Milford, MA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Holiday Inn Express Boston-Milford is a hotel and motel business in Milford, Massachusetts, classified under NAICS code 721110 for hotels (except casino hotels) and motels. The company financed real estate or equipment through an SBA 504 loan of $4,396,000, with Bristol County Savings Bank as the lender and New England Certified Development Corporation as the certified development company, and the loan was approved on January 6, 2024.

SBA 504 loan, approved Jan 6, 2024

$4,396,000 SBA portionCDC: New England Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$4,396,000
Bank portion
$6,550,000
Estimated project size
$12,162,222 (estimated)
Estimated owner equity
$1,216,222 (estimated, about 10% of the project)
Bank lender
Bristol County Savings Bank, Taunton, MA
CDC
New England Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
January 6, 2049 (estimated, approval date plus term)
First disbursement
Mar 13, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
40
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Worcester County, MA
SBA district office
Massachusetts District Office
Congressional district
MA-2
Collateral
Yes

Estimated share of project by source

Bank 54% SBA (CDC) 36% Owner 10%

  • Larger than 82% 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 Massachusetts: $2,009,683.

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 Massachusetts