Industry Icon Kraig Schwigen Joins American Lending Center To Guide Strategic Development
“Kraig is one of the giants in our industry, especially when it comes to serving EB-5 investors,” said John Shen, president and CEO of American Lending Center (ALC). “He has great experience in all components of the process, from the individual investor to the developers putting their money to work. We’re thrilled and blessed to have him join us.”
From 1985 to 2008, Schwigen was a law enforcement officer with the Rock Island County, Illinois, Sheriff’s Department. At the same time, he and his wife developed two large residential subdivisions with more than 110 home sites.
In 2008, Schwigen shifted focus to the EB-5 foreign investment program, growing one regional center into one of the country’s largest and most successful regional center groups at California Military Base (CMB). As COO of this group, he grew the number of investors from 40 to more than 5,400, representing more than $2.7 billion in EB-5 investment capital. His industry expertise prompted the U.S. Secret Service and Federal Bureau of Investigation to request his help in investigating and prosecuting two people who defrauded EB-5 investors from several countries around the world. Both were convicted and sentenced to lengthy prison terms.
After his retirement from CMB, Schwigen and Steve Parnell launched American Investment Migration to create a platform for developers seeking EB-5 capital. This was during the period when Congress was debating whether to renew the EB-5 program, which it did, with some modifications.
“I have a desire to remain involved in the EB-5 industry,” Schwigen said. “However, there are very few regional centers that seem to be truly focused upon the welfare of not only their own EB-5 petitioners
“It was readily apparent that ALC and I share a vision on how to assist EB-5 petitioners that are new to the industry as well as those that may have been unsuccessful in their initial EB-5 investment. I look forward to all of us working towards this common goal.”
Schwigen will join ALC this month. For more information, go to usa-rc.com or call 562-449-0139.
About American Lending Center: A Financial Times (FT) Americas’ Fastest Growing Company
American Lending Center (ALC) is a private nonbank lending institution and nationally recognized leader in small business lending. By the end of 2022, ALC has fully financed senior loan products to 83 qualified EB-5 projects in 19 states, contributing to a combined construction and business expansion budget of over 1.2 billion dollars. ALC’s lending practice has successfully created more than 13,000 new jobs nationwide since 2009.
In 2022, ALC launched its new rural construction and development fund with capital available for construction of fixed assets of all types in rural areas including manufacturing, energy, infrastructure, hospitality, specialty use, multi-use and other project types.
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