MidAmerican Global Ventures will help borrowers obtain cost-effective financing for job creating projects throughout Northwest, Central and Eastern Ohio. As traditional lending sources continue to be difficult to access, immigrant investors are increasingly becoming a unique source of capital.
MAG Ventures will offer financing for a variety of industries, including mixed use real estate developments, energy projects, medical facilities, hospitality and retail ventures, manufacturing and distribution operations and public buildings and infrastructure.
Under certain circumstances, MAG Ventures will provide equity investment for projects.
MAG Ventures considers projects which meet at least the following guidelines:
1. Projects must have a $10 million USD loan minimum.
2. Projects must create at least 10 full-time US jobs for every $500,000 USD if the project is located in a rural area or Targeted Employment Area (TEA). If the project is located outside a rural or TEA, the minimum investment is $1 million USD. Direct and indirect jobs can be counted.
3. To ensure investors have the best possible chance to obtain their Green Card, MAG Ventures only considers projects where there is a high likelihood of job creation and significant financial security. As such, borrowers may be required to provide collateral and/or other guarantees.
4. Additional criteria are considered on a case-by case basis.
Regional Center & Direct Investment
MAG Ventures offers EB-5 Direct Investment consulting services and will manage EB-5 Regional Centers.
A Regional Center differs from direct investment in the following ways:
1. EB-5 Regional Center is designated by USCIS for a defined geographic area.
2. Direct and indirect jobs may be counted.
3. Investor may be a limited partner or member of limited liability company.
4. Regional Center track jobs creation and submits reports.
The EB-5 Direct Investment differs from the Regional Center in the following ways:
1. Investment must be in the form of equity, not debt
2. Only direct jobs may be counted. Indirect jobs may not be counted.
3. Investor takes an approved managerial role in the business.
4. Investor tracks job creation and submits reports to USCIS.
MAG Ventures Regional Center will operate like other financing sources. Typically, the EB-5 investment process with follow the following steps:
Step 1: MAG Ventures and borrower executes project term sheet.
Step 2: Project closes and MAG Ventures begins fundraising.
Step 3: Full loan amount is accumulated in escrow; USCIS reviews investors for eligibility.
Step 4: Funds are released from escrow to project.
Step 5: Borrower supplies MAG Ventures with job creation information.
Step 6: Balloon payment made by borrower to MAG Ventures at end of loan term.
The EB-5 process can be lengthy. Once a term sheet has been signed, borrowers should expect 12-24 months for capital to be released to the project. However, depending on the size and security of the project, timelines may vary by several months.
Step 1: MAG Ventures engaged to provide advisory services
Step 2: MAG Ventures coordinates legal, economist and other professionals to review and advise on deal structure, provides information on EB-5 requirements, supports prospective foreign investor and US business to complete investment
Step 3: Funds invested into commercial enterprise
Step 4: MAG Ventures, legal, economist and other professionals assist in document support and processing
Timing of direct investment approach varies depending on deal specifics.