NES Financial just announced that WElkins, LLC has chosen our EB-5 Escrow Administration Solution to administer the funds associated with their groundbreaking personal cooling system project. WElkins, LLC uses a common core of NASA-derived technology to develop and deliver innovative microenvironment cooling systems that have applications across a wide spectrum, including the medical, military, and athletic industries.
WElkins, LLC, based in Chicago, Illinois, has been developing products to enhance human performance, survival, and quality of life in threatening and extreme conditions since 2004. Their product family of microenvironment cooling systems is used in a wide range of applications by athletes, military, medical personnel, etc. Having recently received FDA approval on their Temperature Management Systems for the medical industry, WElkins will deploy EB-5 funds to ramp up production capacity and support clinical research.
The project provides a different opportunity for EB-5 investors, and it’s not the only one. The use of EB-5 financing for non-real estate projects has been growing in popularity with companies such as E3 Investment Group and Mirzam Investor Green Card that utilize the EB-5 program for a variety of different projects not related to real estate development.
“Most of the projects that leverage EB-5 funds are focused on developing commercial real estate,” said Reid Thomas, NES Financial EVP. “However, as WElkins recognizes, there are very interesting opportunities outside of commercial real estate for investors to make investments and pursue permanent residency. They share our vision of making sure their offering provides the highest level of security, transparency, and compliance for investors.”
At NES Financial, our EB-5 Suite of Solutions can be used on all project types – real estate or not. Specifically designed for the EB-5 industry, these Solutions help Regional Centers and developers improve operating efficiency and focus on the core needs of the project.
Learn more about why WElkins, LLC chose NES Financial by reading the full press release.
NES Financial welcomes your questions and opinions. Allow us to address your business needs by contacting us here. We look forward to hearing from you!