Premier Holding Corporation Receives New Interest in EB5 Funding Opportunity
Premier Holding Corporation ( OTCQB : PRHL ), announces that it has received great interest by a group from China in investing in the company utilizing the EB5 program set up by the US government.
The company first looked at the EB5 program years ago. The program is designed to provide green card/citizenship to foreign individuals who invest a certain amount of money into companies that create a required number of jobs in the US. In the recent past the program was marred by real estate companies accepting investment but then not creating the jobs promised. This has caused potential investors to be wary. The investors in discussions with Premier are very impressed with the job creation opportunities that The Power Company (TPC), a subsidiary of Premier, presents. TPC is an excellent sales organization that has the ability to scale up rapidly through recruitment into new territories, and has a proven track record of creating jobs.
The company could create more than enough jobs in each new satellite office of TPC to warrant $500,000 to $1 million investment per location. The company is looking to raise $3 to $5 million to open 5 to 6 satellite offices. Each location would employ door-to-door sales associates and management which would not only satisfy the requirements of EB5 job creation, but could double or triple the company's door-to-door growth plan for the near- to mid-term.
PRHL's President and CEO Randall Letcavage stated, "We are very excited with the interest level of this investment group. They have reviewed the opportunity and have expressed that our business model can create more than the necessary number of jobs required by EB5 to allow them a green card or citizenship. We believe we could qualify faster than most real estate projects and it looks like our legal counsel and investors agree. We hope to complete this investment before the end of 2016, and this of course will help accelerate the growth plans for TPC and should reflect in the performance of the company and shareholder value. We will pursue all prudent avenues for growth, including EB5."
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