Holiday Inn Express
Holiday Inn Express in Smithfield, RI is a hotel business in the Hotels (except Casino Hotels) and Motels industry. The company financed real estate or equipment through an SBA 504 loan of $3,631,000, approved on June 12, 2025, with Rockland Trust Company as the bank partner and New England Certified Development Corporation as the certified development company.
SBA 504 loan, approved Jun 12, 2025
$3,631,000 SBA portionCDC: New England Certified Development Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $3,631,000
- Bank portion
- $5,072,121
- Estimated project size
- $9,670,134 (estimated)
- Estimated owner equity
- $967,013 (estimated, about 10% of the project)
- Bank lender
- Rockland Trust Company, Rockland, MA
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- June 12, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Holiday Inn Express/Holiday Inn Express & Suites
- Project location
- Providence County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-1
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Larger than 73% 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 Rhode Island: $1,662,733.
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 Rhode Island
- Arham, LLC, Rumford
- Holiday Inn Express Coventry, Coventry
- Super 8 Motel, West Greenwich
- Hanuman Hospitality, Inc., Middletown