CanAm Enterprises, LLC (“CanAm”) has reached another milestone! On March 23rd, 2016, the Valley Forge Convention Center repaid its loan in full and early to its 80 investors. It is CanAm’s 29th EB-5 project to be fully repaid. To date, $666.5 million representing 1,333 immigrant investor families, have been repaid by CanAm’s EB-5 projects.
The proceeds of the $40 million EB-5 loan were used to finance the renovation of a three-level convention center space and a 15-story full-service Radisson hotel, including parking spaces, recreational facilities, and a state-of-the-art casino facility. Upon completion in March 2012, the project created 1,046 direct and indirect jobs that fulfilled the EB-5 Program requirement for all 80 investors to obtain permanent residency status.
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