American Lending Center Increases Investment in Pennsylvania with Two New Completed Projects
PHILADELPHIA–(BUSINESS WIRE)–Jan 25, 2019–American Lending Center (ALC), one of the nation’s leading EB-5 regional centers, recently celebrated the openings of two properties in the company’s Pennsylvania portfolio. The Fairfield Inn & Suites in Philadelphia and the Hampton Inn & Suites in Media, PA represent significant investment projects that successfully opened over the last few months.
ALC has achieved a 100 percent success rate over all of its 70+ projects across 19 states since 2010, making it a uniquely successful EB-5 regional center. The company is currently the largest non-bank SBA 504 lending institution, having successfully provided over 350 million dollars to American ventures. 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 Fairfield Inn & Suites received $4 million in EB-5 investments from ALC, nearly 20 percent of its total funding. Originally constructed in 1924, the 12-story property has 116 guest rooms and is located within Philadelphia’s Washington Square West neighborhood with full modern amenities while retaining a unique, boutique feel. ALC provided another $3.5 million in funding to the Hampton Inn & Suites in the nearby historic town of Media, PA. The property features 106 guest accommodations, a business center and variety of meeting rooms, and an indoor saltwater pool.
“ALC is proud to partner with local entrepreneurs to invest in American communities,” said John Shen, ALC’s CEO. “Our projects create new jobs, foster economic growth, and demonstrate the benefits international investment can offer as valuable capital for expanding industries.”
The two Pennsylvania properties represent an ongoing expansion of ALC’s presence across the region and cement the company as a key investor in the growing hospitality and tourism sectors of the state.