NES Financial announced today that it has been selected by American YiYo Regional Center to provide its EB-5 Escrow Administration Solution on the company’s latest development project in McDonough, Georgia. NES Financial’s suite of EB-5 Solutions has been used on over 300 EB-5 projects representing more than $12 billion in capital.
The EB-5 visa program, created in 1990, encourages investment in projects that stimulate U.S. job growth, while providing an opportunity for foreign nationals to become lawful permanent residents. An applicant’s investment is typically held in an EB-5 escrow account prior to investment in the New Commercial Enterprise, which then uses the funds to create jobs.
Henry County is located about 30 miles from the city of Atlanta, Georgia and is quickly becoming one of the fastest growing counties in the state. The first phase of the project, the McDonough Hospitality Plaza, will include a Wild Wing Café, La Quinta Inn & Suites, and Home2Suites, and the second phase will feature development of another Home2Suites, a Holiday Inn, and Hyatt Summerfield Suites in various other cities within the county, each creating dozens of direct and indirect jobs. Construction on phase one of the project is already underway, with the completion date quickly approaching, and phase two is set to kick off this summer.
“We wanted to assemble the very best EB-5 team around, and NES Financial is the clear market leader,” said Sundip Patel, Managing Partner of American YiYo Regional Center and recipient of the prestigious NES Financial Silver Medallion Award. “The Intelligent EB-5 Escrow Solution provides a level of service that is unavailable through traditional bank relationships. In addition, the solution provides transparency to our investors and allows us to focus on our goal of achieving project success.”
NES Financial’s suite of EB-5 Solutions was designed specifically for EB-5 to streamline the entire process from start to finish. Whether utilizing select products or the entire bundle, each unique solution can help issuers increase efficiency, reduce risk, and meet USCIS guidelines and SEC and FINRA requirements.
“The EB-5 program creates hundreds of thousands of jobs and contributes billions of dollars to the United States economy,” said Reid Thomas, NES Financial Executive Vice President. “NES Financial’s EB-5 Solutions make it easier for issuers to achieve project success, while protecting investors to ensure the positive contributions to our economy continue.”