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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

Innovation Leader John Shen Joins President Biden at White House Bill Signing

June 14, 2022 GMT

WASHINGTON--(BUSINESS WIRE)--Jun 14, 2022--

National business leader John Shen attended the official signing of the Commission to Study the Potential Creation of a National Museum of Asian Pacific American History and Culture Act into law at the White House on Monday, June 13 th. At the invitation of President Biden, Shen and colleague Stella Zhang participated in the historic recognition of the contributions and challenges faced by the Asian American, Native Hawaiian and Pacific Islander (AANHPI) community in the United States.

Shen, a living example of the American Dream himself, immigrated to the United States and has since brought in hundreds of millions of dollars through foreign direct investment while reinvesting that wealth into American entrepreneurs.

Simon Pang, a longtime partner, executive at Royal Business Bank and a commissioner on the President’s Advisory Commission on AANHPI, commented: “This bill moves us closer to establishing a national museum dedicated to preserving the history and culture of the AANHPI community. I am thrilled to have been able to share this important moment with industry leaders like John Shen. His story is the story of the American Dream, and John’s ability to leverage that for the benefit of all Americans is an example for all.”

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Over the past 15 years, Shen has founded multiple companies, created hundreds of jobs in various sectors across the country, fostered the innovative ecosystem through venture capital and the creation of the Long Beach Accelerator, partnered with educational institutions to promote greater diversity in start-up culture and beyond. His focus on minority- and women-owned enterprises is a common thread driving Shen’s professional successes.

Shen’s current suite of companies comprises a wide range of business models, including:

  • American Lending Center, a non-bank community lender focused on facilitating EB-5, PPP and government backed loan programs.
  • Sunstone Management, a private equity and venture capital firm prioritizing equitable, accessible investments in start-ups for the next generation of entrepreneurs.
  • Sunstone Trust Company, a wealth management services firm specializes in serving first- and second-generation immigrants and one of only eight trust companies licensed by California.
  • Partake Collective, an innovative combination of ghost kitchen, test kitchen, food hall, and retail market.

Commented Shen: “I am honored to be at the White House at the invitation of President Biden to celebrate our culture at a time when many in our community face challenges. This bill is a demonstration of our national commitment to acknowledging the contributions of the AANHPI community of which I am so proud to be a member.”

About Sunstone Management: A Financial Times (FT) Americas’ Fastest Growing Company

Sunstone Management, with the Sunstone Venture Capital Fund, is a diversified private capital management and investment firm offering comprehensive wealth management solutions to high-net-worth clients worldwide. Sunstone proactively forges both public-private partnerships with government agencies and industry-academic partnerships with nonprofit educational organizations to promote economic development, championing growth in the local innovative ecosystem. Sunstone also excels in leading commercial development projects in emerging sectors to support community development and in facilitating economic recovery under COVID-19.

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About American Lending Center: A Financial Times (FT) Americas’ Fastest Growing Company

American Lending Center (ALC) is a private non-bank lending institution and nationally recognized leader in small business lending. Between 2009 and 2020, ALC offered strategically structured senior loan products to 80+ qualified SBA 504 projects in 19 states, contributing to a combined construction and business expansion budget of over one billion dollars. ALC’s lending practice has successfully created more than 12,000 new jobs nationwide. As one of only a handful of nonbank institutions designated to provide immediate financial relief to struggling small businesses, ALC provided PPP loans to nearly 30,000 small businesses across all 50 states and Washington, DC.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220614006028/en/

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CONTACT: Media:

ddoran@rasky.com

202-207-3650

KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES WHITE HOUSE/FEDERAL GOVERNMENT PUBLIC POLICY/GOVERNMENT SMALL BUSINESS START-UP FINANCE BANKING

SOURCE: American Lending Center and Sunstone Management

Copyright Business Wire 2022.

PUB: 06/14/2022 05:55 PM/DISC: 06/14/2022 05:56 PM

http://www.businesswire.com/news/home/20220614006028/en