Main Street Registry

Holiday Inn Express Brooklyn Sunset Park

Brooklyn, NY · Hotels (except Casino Hotels) and Motels · NAICS 721110

Holiday Inn Express Brooklyn Sunset Park is a hotel and motel business located in Brooklyn, New York, in the Hotels (except Casino Hotels) and Motels industry. The company financed real estate or equipment through an SBA 504 loan of $5,000,000, approved on August 5, 2024, through Poppy Bank with the Empire State Certified Development Corporation.

SBA 504 loan, approved Aug 5, 2024

$5,000,000 SBA portionCDC: Empire State Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$5,000,000
Bank portion
$11,900,000
Estimated project size
$18,777,778 (estimated)
Estimated owner equity
$1,877,778 (estimated, about 10% of the project)
Bank lender
Poppy Bank, Santa Rosa, CA
CDC
Empire State Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
August 5, 2049 (estimated, approval date plus term)
First disbursement
Nov 13, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
24
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Kings County, NY
SBA district office
New York District Office
Congressional district
NY-7
Collateral
Yes

Estimated share of project by source

Bank 63% SBA (CDC) 27% Owner 10%

  • Larger than 90% 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 New York: $2,225,161.

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 New York