NES Financial’s EB-5 Escrow Solution Selected by Rhode Island EB-5 Regional Center for Manufacturing Facility Project
EB-5 capital being used beyond commercial real estate projects in a variety of other sectors
NES Financial announced today that its Intelligent EB-5 Escrow Administration Solution has been selected by Rhode Island EB-5 Regional Center on its Quick Fitting Manufacturing project.
Quick Fitting Manufacturing is a state-of-the-art manufacturing facility being built in Rhode Island to support Quick Fitting’s exponential growth. EB-5 funds will be used to acquire advanced manufacturing equipment and expand the current Quick Fitting facility.
“Advanced manufacturing development with EB-5 capital is a win-win for investors and manufacturers but comes with a fair amount of complexity,” said John Cronin, COO of Rhode Island EB-5 Regional Center. “The team at NES Financial has more experience working with EB-5 projects than any other service provider in the industry and, as such, provides us with the ability to offer the highest likelihood of success to our investors.”
NES Financial’s suite of Intelligent EB-5 Solutions is designed to cover the unique requirements of the entire EB-5 process, start to finish. Each solution provides security, transparency, and compliance for the utmost investor confidence in a project. Whether utilizing select products, like the Intelligent EB-5 Escrow Solution, or the entire bundle, these unique solutions take care of the middle and back office administration so issuers can focus on doing what they do best.
The EB-5 visa program, created in 1990, encourages investment in projects that stimulate U.S. job growth, while providing an opportunity for foreign nationals to become lawful permanent residents. An applicant’s investment is typically held in an EB-5 escrow account prior to investment in the New Commercial Enterprise, which then uses the funds to create jobs.
“In recent years, EB-5 capital has been primarily used as a job-creating tool in commercial real estate projects, although it can also drive job creation in other sectors, like manufacturing,” said Reid Thomas, NES Financial Executive Vice President. “We developed our solutions to support the unique needs of our EB-5 clients across a multitude of applications and industries.”
About NES Financial
NES Financial provides technology-enabled services for the efficient middle and back office administration of highly specialized financial transactions. Our custom solutions include EB-5 administration, 1031 exchanges, and fund administration services. Many of the world’s largest financial institutions and corporations rely on our proprietary technology, unparalleled expertise, and outstanding services to ensure the secure, transparent, and compliant management of funds. Recognized by Artisan Business Group as the 2013 and 2015 EB-5 Service Provider of the Year and by Inc. Magazine’s 500|5000 as one of the fastest growing private companies in America two years in a row, NES Financial helps companies lower operational costs, reduce risk, and improve ROI. For more information, visit nesfinancial.com.
About Rhode Island EB-5 Regional Center
Rhode Island EB-5 Regional Center partners with local, state, and federal governments to serve as an investment vehicle for U.S. manufacturing companies to receive foreign funding through investment in USCIS approved projects in the state of Rhode Island. The Regional Center’s core values and commitments focus on customer service, quality assurance, collaboration, loyalty, ethics, consistency, and compliance.
- RI EB-5 Regional Center, Inc.
- NES Financial
- Reid Thomas
- Quick Fitting Manufacturing
- U.S. Citizenship and Immigration Services
- Rhode Island
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