Terry Spillane's side, who play in Isthmian League Division One North, are the lowest-ranked team in the second round of the FA Cup, having come through six ties to earn the right to play their League Two opponents.
Their progress has already made a significant difference to the club's finances but Holloway says one more win would take things to a new level. He said: "We are right on the verge. The money we've had has been fantastic and will help give the club stability over the next few years and allow us to invest it in facilities. But another win and a big draw in the next round and you're talking about life-changing moments for the club."
After coming through a replay against Oxford City, Redbridge face a sharp increase in standard against a side who trail leaders Southend at the top of League Two only on goal difference.
However, Holloway said: "The boys have kept proving people wrong and that is what the FA Cup is all about, anything can happen.
"If we were to go through, it's tough to say who I'd most like to play. As I support them, my heart says West Ham and a game at Upton Park would be a dream.
"But from a club and financial point of view, there would be nothing bigger than Manchester United or Manchester City. I'd take either."