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How long after receiving a loan can an investor apply for EB-5?

I am from India. I want to know if a family relative or a friend from the United States can give me a loan, which I would then invest in a U.S. business under the EB-5 program? Would I have to have the loan for a certain time period before I make the EB-5 investment?

Answers

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    As long as the funds are in your possession, ownership, and control, there is no waiting period or time frame before you can make the EB-5 investment. Keep in mind that there are significant documentary requirements for this type of source of funds, including your relative's or friend's proof of how he or she legally earned the money you are receiving, and evidence of how you lawfully purchased the collateral or security for the loan. The loan agreement must be enforceable and the security must be valued at fair market value (you probably need an appraisal report to prove this) and it must be sufficient security for the loan.

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    Ed Beshara

    Immigration Attorney
    Answered on

    Immediately after receiving a loan compliant with the EB-5 policies, the investor can make the investment into the EB-5 project.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    No, but the loan must be secured by your personal assets.

  • Avatar

    John J Downey

    Immigration Attorney
    Answered on

    No, there is no specific time period. You must be careful that you are responsible for the loan and it is not contingent on the business you intend to open and operate. In other words, it cannot be an obligation of the company.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    Yes, the source of funds may be a loan from the United States for the EB-5 immigrant investor petition process, as long as the funds are traceable to a lawful source. There are no statutory restrictions on when you may obtain the loan for this purpose.

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    Michael A Harris

    Immigration Attorney
    Answered on

    You can use a loan if it is properly secured by assets that you are primarily responsible for. The proceeds from the loan will need to be provided to you before you make your investment. There is not a specific period of time that you will need to have the loan. Yet if the loan is from a non-institutional lender, then we will have to look to their lawful source of funds.

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    Ian E Scott

    Immigration Attorney
    Answered on

    There is no wait period, but you should keep in mind that the loan should be secured against personal assets.

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