CanAm Enterprises’s EB-5 Loan Repayment Yields New Milestone – More Than 1,000 Investor Families Fully Repaid
CanAm Enterprises, LLC (CanAm) is pleased to announce that its 27th project, a $100 million loan to a major film studio in Los Angeles, was repaid in full and on time. To date, more than 1,100 CanAm investor families have received 100% capital repayment, totaling $555.5 million.
"As an industry leader, we have pioneered many EB-5 milestones, but this one gives us particular pride," said Tom Rosenfeld, President and CEO of CanAm. "It highlights the sincerity of our goal to protect our investors' $500,000 investment, and our success in doing so."
All 200 investor families have received permanent residency status as a result of the project’s job creation. To date, CanAm has obtained 1,390 Form I-829 petition approvals. According to IIUSA, the EB-5 industry trade organization, for the latest available statistics during the period of 1995 to February 2014, 1,345 Chinese families have obtained I-829 petition approvals, of which 804 are CanAm investors. Accordingly, a remarkable 60% of all Chinese I-829 petition approvals during this period have been issued to investors in CanAm projects.
The proceeds of the $100 million loan were used to fund film and television productions in targeted employment areas located in Los Angeles County. A significant number of California-based productions have historically relocated to Canada and other U.S. locations that provide finance incentives including film tax credits. Operating as a financing incentive to keep these “runaway productions” in Los Angeles County, the EB-5 loan helped create and preserve important film production jobs in the region.
The following investor represents the many notes of thanks and gratitude we have received: “Today, we wrapped up with not only full refund, but also full satisfaction, and much more. We all have received green cards and we love our new home in the United States,” said Mrs. Su, “Even though we had a hard and anxious time during the condition removal process because of the vague law glossaries, we had the utmost belief in CanAm. The team at CanAm cares about us and restlessly works hard to protect our rights. We feel so grateful for having chosen CanAm!”
About the Los Angeles County Regional Center
The Los Angeles County Regional Center is an exclusive partnership between the Los Angeles Economic Development Corporation (LAEDC) and CanAm Enterprises.
About CanAm Enterprises, LLC
With more than 27 years of experience promoting immigration-linked investments in the United States and Canada, CanAm is the exclusive manager of seven USCIS-designated Regional Centers, including the PIDC Regional Center (in partnership with the Philadelphia Industrial Development Corp.), Pennsylvania DCED Regional Center (in partnership with Pennsylvania Department of Community and Economic Development), Los Angeles County Regional Center (in partnership with the Los Angeles Economic Development Corporation), Hawaii Regional Center (in corporate with Department of Business, Economic Development and Tourism), the New York Metropolitan Regional Center, the North Country New York Regional Center and CanAm Florida Regional Center.
For more information, please visit http://www.canamenterprises.com
About the EB-5 Investor Program
The EB-5 Immigrant Investor Program (EB-5), administered by the United States Citizenship and Immigration Services (USCIS), provides opportunities for qualified foreign nationals to achieve permanent legal residency in the U.S. through an investment in an USCIS-approved project that will generate at least ten full-time jobs in the United States.
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