Main Street Registry

Holiday Inn Express & Suites

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

Holiday Inn Express & Suites in Glen Allen, Virginia, operates in the hotels and motels industry (NAICS 721110). The business financed real estate or equipment through an SBA 504 loan of $2,574,000 approved on August 13, 2024, with Trustar Bank as the lender and Business Finance Group, Inc. as the certified development company.

SBA 504 loan, approved Aug 13, 2024

$2,574,000 SBA portionCDC: Business Finance Group, Inc.25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,574,000
Bank portion
$5,031,000
Estimated project size
$8,450,000 (estimated)
Estimated owner equity
$845,000 (estimated, about 10% of the project)
Bank lender
Trustar Bank, Great Falls, VA
CDC
Business Finance Group, Inc.
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
August 13, 2049 (estimated, approval date plus term)
First disbursement
Apr 16, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn Express/Holiday Inn Express & Suites
Project location
King George County, VA
SBA district office
Richmond District Office
Congressional district
VA-1
Collateral
Yes

Estimated share of project by source

Bank 60% SBA (CDC) 30% Owner 10%

  • Larger than 51% 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