India, August 2020: CanAm Enterprises (CanAm), a leading full-service financial firm sponsoring EB-5 immigration-linked investment funds, today announced the repayment of $350 million from its All Aboard Florida Project, the largest single project repayment in history of the EB-5 Program, representing 700 EB-5 investors. Adding to its 30-year legacy, with this milestone EB-5 repayment, 45 of CanAm’s EB-5 project loans have now repaid $1.75 billion, representing over 3,500 investor-families.
The U.S. Congress created the EB-5 Immigrant Investor Visa Program with the intent of attracting foreign investment to the United States to stimulate the struggling economy in the 1990’s. The objective was to create jobs for U.S. workers at no cost to taxpayers. Having fulfilled its purpose over the last few decades, the EB-5 Program has continued to stay relevant as an economic stimulus during difficult times, including during the 2008-2009 financial crisis, and again now during these unprecedented times brought about by the COVID-19 pandemic. EB-5 funding has helped finance key economic developments even as credit markets tightened, such as the expansion of the Pennsylvania Convention Center in Philadelphia, that would otherwise have been delayed and put an extra financial burden on the Pennsylvania budget.
Upon reaching this milestone, Mr. Tom Rosenfeld, CEO of CanAm Enterprises, said, “Our All Aboard Florida Project is one of the most iconic projects in the history of the EB-5 Program. We successfully created 9,418 Program-qualifying jobs for U.S. workers through this EB-5 investment, far exceeding the USCIS minimum requirement. And having an EB-5 investment of this size repay in full and on time in the current environment when refinancing is scarce, is only further testament to the merits of this project within the EB-5 industry. It’s been a tremendous privilege for us to see all 700 of our investors through their EB-5 investment in the All Aboard Florida Project.”
In fact, with the world economy struggling to recover, EB-5 capital, if properly invested, can fill the sudden capital gap in needed, job-creating projects while also mapping a path to U.S. permanent residency for successful foreign entrepreneurs and businesspeople. “With unemployment rates climbing exponentially in 2020 owing to the outbreak of the novel coronavirus,” added Mr. Rosenfeld, “I strongly believe that the EB-5 visa program is going to be a key tool to aid in the revival of our economy while supporting thousands of foreign nationals to take a step towards fulfilling their American Dream. Of course, we will see some EB-5 projects struggle and even fail, but as of today, CanAm EB-5 projects representing over 3,500 investors have 100% repaid – I am proud to say that this is not only a huge moment for us, but for the entire EB-5 industry as these milestones should instill confidence that the EB-5 Program can be exactly what it was intended to be, a win for both the U.S. economy and our investors.”
With an unmatched track record and the most experienced and proficient team at its helm, CanAm offers comprehensive services for global EB-5 investors. CanAm’s in-house immigration and business professionals are intimately involved in every aspect of the EB-5 visa process, including carefully preparing documentation that will result in permanent green cards. Over the course of its journey, CanAm has successfully garnered the trust of nearly 6,000 EB-5 investors for decisions related to immigration and investment processes.