The Welcome Fund (EB-5) Loan provides low-interest senior or subordinate financing for large-scale, job-creating projects undertaken by strong governmental, corporate or institutional sponsors.
The federal EB-5 program provides an opportunity for prospective immigrants to invest in U.S.-based commercial enterprises, qualifying the investors for residency status. The program is under the oversight of the United States Citizenship and Immigration Services (USCIS), which has approved PIDC and CanAm Enterprises to serve as a Regional Center for Philadelphia.
|Loan Amount||The minimum loan amount is $10,000,000. To qualify, projects must create at least 10 direct and indirect new jobs for each $900,000 lent, as determined by an economic impact model.|
|Interest||to be determined based on credit criteria and market conditions.|
|Term||Five (5) years|
Clients should schedule a preliminary meeting with PIDC to review project eligibility and timing.
|Application||$500 nonrefundable fee, payable at time of application submission.|
|Deposit||A deposit of $50,000 for expenses will be required upon execution of the commitment letter, upon closing the deposit will be credited towards the commitment fee. If the project fails to close the deposit will be returned to the borrower less expenses.|
|Commitment||1.5% of the Loan Amount.|
|Closing||Legal and closing costs. Fees are subject to change. Please confirm all transaction fees with PIDC prior to application.|