More Than One Thousand and Four Hundred Investors Were Fully Repaid to Date
CanAm Enterprises LLC (“CanAm”) is pleased to announce that its 30th EB-5 Partnership Loan from the PIDC Regional Center has repaid on November 22nd, 2016. This marks the milestone of 1,423 investor-families fully repaid, further establishing CanAm as one of the leading sponsors of EB-5 investments.
The $45 million EB-5 loan helped finance the redevelopment of a former historic building to a boutique hotel located across the square of the Independent Bell of Philadelphia. An estimate of 1,387 new, permanent jobs were created as a result of the project’s completion. All of the 90 investors and their families have met the job-creating requirement and received residency status.
The EB-5 Immigrant Investor Program(“EB-5”) is administered by the United States Citizenship and Immigration Services (USCIS). The Program provides qualified foreign investors with the opportunity to earn “conditional” or temporary two-year visas in return for investing $500,000 in businesses located in high unemployment areas that create or retain at least ten permanent full-time jobs for U.S. workers.
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