ALC Ranked #1 Non-bank Lender in US
The American Lending Center is once again ranked the number one non bank lender for third party gross loan approvals for 2013. CEO of RCH John Shen had this to say, ”It is an incredible accomplishment in such a short time period. We are so proud of being part of this unique business called ALC – lending EB-5 capital to deserving US small businesses.” Among non-banks ALC is ranked 16th in the nation in third party lender gross loan approvals for 2013 by NADCO, beating out such banks as Citibank and First National Bank. ALC has lent out $00,000,000 in Third Party Approved Dollars in 2013 as of April 30, 2013. Due to ALC Wholesale lending handling all credit underwriting for all transactions, investors are allowed an extra layer of security. The SBA 504 program is a structured program giving investors a clear understanding of what their funds will be used for. The 504-EB5 program is focused even further by limiting investments to specific industries and Targeted Employment Areas or TEA’s. ALC finished the year as the number 1 non bank lender in the US and is currently the number 1 non bank lender in NADCO’s rankings (as of May 2013).