Holiday Inn Express Coventry
Holiday Inn Express Coventry is a hotel and motel located in Coventry, Rhode Island, in the Hotels (except Casino Hotels) and Motels industry. The business financed real estate or equipment through an SBA 504 loan of $2,914,000, with Centreville Bank as the lender and New England Certified Development Corporation as the certified development company, and the loan was approved on August 17, 2026.
SBA 504 loan, approved Aug 17, 2026
$2,914,000 SBA portionCDC: New England Certified Development Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $2,914,000
- Bank portion
- $4,050,000
- Estimated project size
- $7,737,778 (estimated)
- Estimated owner equity
- $773,778 (estimated, about 10% of the project)
- Bank lender
- Centreville Bank, West Warwick, RI
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- August 17, 2051 (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
- Kent County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-2
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Larger than 58% 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, Smithfield
- Super 8 Motel, West Greenwich
- Hanuman Hospitality, Inc., Middletown