Can I take a $900k loan from my friend in the US, who is a green card holder? The loan would be completely unsecured and without collateral. Does this work as my EB-5 investment?
Answers
Daniel A Zeft
Immigration attorneysAn EB-5 investment must be at risk. This situation is not an EB-5 investment because the loan is not secured.
Michael A Harris, Esq
Immigration attorneysYes, it is possible for this work if your friend can provide sources of funds for how he obtained the amount he is gifting you.
Lynne Feldman
Immigration attorneysI suggest an agreement with the friend to show that this is the case and the terms of the repayment without collateral.
Dennis Tristani
Immigration attorneysYes - you can use the proceeds of an unsecured loan/gift from a friend. USCIS will inquire as to the source of funds that your friend lent/gifted to you - this will require your friend to provide his personal tax, financial and income documents.
DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.