Investment Immigration Program In Support Of Small Business And Job Creation
USEDLC is a regional center designated by USCIS to lend investment funds of foreign investors, pursuing green cards, to small businesses and help job creation in during economic downturn.
- (1888PressRelease) July 15, 2010 - U.S. Employment Development Lending Center (USEDLC) is a regional center designated by USCIS in April 2010 to pool the investment fund of foreign nations who pursue US permanent residency (green card) under EB-5 Immigrant Investor Pilot Program, which was created by the Congress in October 1992. USEDLC, as a designated regional center, will use foreign investors' fund to lend to small businesses in the form of SBA 504 loan. To meet the immigration requirements set forth in Section 204.6 (4) of the Immigration and Nationality Act, every $500,000 investment fund will need to create 10 jobs.
With the recent collapse of the US financial market, US small business growth has been significantly hindered. Most small businesses have been struggling lately while many others unfortunately have already failed to survive. According to the mid 2009 Survey by National Small Business Association ("NSBA"), the gross sales/revenues of 66% US small businesses decreased between August 2008 and July 2009. Lack of financing options and worsening terms for bank loans are the primary reason majority healthy small business still failed during this economic downturn.
USEDLC has full understanding of today's capital need among the US small businesses and will help place foreign investors' fund to where the money is needed the most and help create jobs at the same time. By taking the form of SBA 504 loan, which provides small businesses requiring "brick and mortar" financing with long-term, fixed-rate loans to acquire major fixed assets for expansion or modernization, USEDLC will also enjoy the benefits provided by the American Recovery and Reinvestment Act signed into the law by President Obama in September 2009 which eliminates SBA 504 loan fees and offers tax benefits as well as authorization to Small Business Administration (SBA), a federal government agency, to establish a process to provide a federal guarantee for pools of first lien 504 loans.
USEDLC had its first press conference on June 8, 2010 in Beijing, China. This press conference has drawn great attentions of millions of potential Chinese investors. Most major medias in China have reported this event, including Xinhua News Agency. USEDLC, working with a licensed immigration service provider in China, held its first official seminar on June 28, 2010 in Chengdu, Sichuan Provision, China.
While Canada raised its investment immigration threshold by increasing minimum investment fund from 400,000 to 800,000 Canadian dollars and investors' net assets minimum requirements from 800,000 to 1,600,000 Canadian dollars, it is time for potential Chinese investors to shift their interests in immigration to Canada to EB-5 Investment Immigration program in the U.S. China has become the No.1 country in the world with the largest number of EB-5 investment immigrants last year. USEDLC, said Mr. John Shen, CEO of the regional center, will bring in millions of dollars foreign investment from China and create thousands of direct and indirect jobs in the US in the coming year.
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