Rupy Cheema -
Due Diligence Analysts

Rupy Cheema

Toronto ON, Other
  • Rupy Cheema

EB5 Diligence publishes the industry’s premier due diligence reports on projects seeking EB-5 capital. The firm’s comprehensive analysis evaluates the project’s strengths and weaknesses and provides an opinion of each EB-5 project it reviews. The firm’s reports provide a comprehensive analysis of the business viability, financial viability and I-829 viability (regarding job creation and TEA designation) of each offering. The firm obtains and extensively reviews all documents and material information related to a project.

During the business viability analysis, the firm reviews the ownership structure, current capitalization, capital and debt requirements, competitive profile, sales and marketing strategy, strategic relationships, facilities and equipment, management capabilities, staffing timetables and construction timetables, required licenses and permits, plans for implementing management systems, important vendor relationships and credit terms. A “red flag analysis” involves any risk factors associated to management credibility, unwillingness to provide key information or litigation exposure.

During the financial viability analysis, the firm reviews historical financial statements (if they exist), the projected balance sheet and income statement, sources and uses of capital, major agreements and contracts, structure of common or preferred stock if applicable, terms of debt obligations and a review of projected cash flow statements. In assessing EB-5 viability, the firm reviews the economic study and job creation projections and the targeted employment area designation, along with the regional center designation, background and history.
Due diligence reports also outline the financial risks investors must consider, including their exit strategy, their rate of return, the financial solvency of the project, the sufficiency of collateral for EB-5 loans and the built-in job creation cushion to meet USCIS job requirements for all investors. Clients include regional centers, developers, broker-dealers, investors and migration agents.

Rupy Cheema is president of EB5 Diligence. Her previous positions include CFO of and business auditor for Canada Revenue Agency. After graduating from York University with her bachelor’s degree in account and finance, she earned her certified general accountant designation.