Now with Wolves, Ebanks-Blake was last week named Championship Player of the Year.
Holloway told the Express & Star: "We were in need of a striker and we needed goals. My chief scout Gary Penrice thought we should go for him (Ebanks-Blake), as he knew the next striker in line below him was a young Fraizer Campbell.
"This coincided with the fact Sylvan was coming back after suffering a broken leg.
"I managed to catch Alex Ferguson on a good day and persuaded him that he should be making room for Campbell and giving him more of a chance, because he was set to be the next best thing.
"I asked whether he could loan me Sylvan for the time being, we ended up signing him on a permanent deal.
"He was on our radar because he was someone we knew could score goals, we noticed he scored hat-trick after hat-trick for United's reserves."