American Lending Center Invests in Niagara Falls Economic Development with Comfort Inn & Suites
NIAGARA FALLS, N.Y.--(BUSINESS WIRE)--Sep 4, 2018--The Comfort Inn & Suites, funded with key EB-5 investments from American Lending Center (ALC), one of the nation’s leading EB-5 regional centers, has opened in Niagara Falls, NY. The hotel represents the third property recently funded by ALC in Niagara Falls’ hospitality industry, following the local La Quinta Inn and Microtel Inn & Suites, which opened in 2016 and 2017 respectively.
The four-story, 82-room hotel received $1.5 million in EB-5 funds from immigrant investors through ALC. The property is set to increase the area’s tourism revenue and generate significant local economic advancement. The city of Niagara Falls also contributed $100,000 through the N.F.C. Development Corporation, a program designed to stimulate local business growth.
“We are proud to welcome new tourists and industries to the area and to be building partnerships with organizations like American Lending Center,” stated Mayor Paul Dyster. “We recognize that ALC funding was critical to the development of the Comfort Inn and numerous projects in the region and value their continued support and ongoing investment in our community.”
“By investing in locally-operated small enterprises like the Comfort Inn & Suites, ALC supports communities by helping create permanent American jobs, acting as an investor lender, and stimulating economic growth,” added John Shen, ALC CEO. “We are excited to continue the successful collaboration with the city of Niagara Falls, and to bring international investment to communities across America.”
ALC received a record-breaking nine EB-5 project approvals in nine different cities for 30 newly approved investors in March of 2018 alone. The company is currently the largest non-bank SBA 504 lending institution, having successfully provided over 350 million dollars to American ventures and funded over 60 SBA 504 projects with parent company RCH.
About American Lending Center
American Lending Center (ALC) is a U.S. Citizenship & Immigration Service designated regional center held by Regional Centers Holding Group. ALC offers investment opportunities to immigrant investors interested in obtaining permanent resident status in the United States through the employment-based fifth preference visa (EB-5) program. ALC has completed funding projects in 19 states and is committed to fulfilling the program’s promise of investment in deserving businesses in rural and underserved communities.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180904005744/en/
CONTACT: American Lending Center
Dana Doran, 202-207-3650
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TRAVEL LODGING SMALL BUSINESS PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: American Lending Center (ALC)
Copyright Business Wire 2018.
PUB: 09/04/2018 02:00 PM/DISC: 09/04/2018 02:00 PM