SAN JOSE, Calif., November 16, 2010 – NES Financial (NESF), a leading provider of financial services solutions for the banking industry, EB-5 Regional Centers and Fortune 500 companies, has announced that the American Dream Fund (ADF), proprietor of the Los Angeles Regional Center, has chosen it’s EB-5 Administration Solution to administer funds associated with a $20 to $30 million project in Hollywood, California.
ADF’s Los Angeles Regional Center is actively securing EB-5 capital for Drai’s and Delphine Hollywood, two significant “A-List” investments in the W Hotel Hollywood. The federally sanctioned EB-5 visa program encourages foreign nationals to invest in government-approved projects that create U.S. jobs and provide the opportunity for the foreign investors to become lawful permanent residents. The funds raised through EB-5 investments in the American Dream Fund are expected to create between 450 and 600 new permanent jobs in the Los Angeles region.
“When American Dream Fund was looking at EB-5 administration solutions, our priorities were to provide our Regional Center investors with the highest possible security for their funds, as well as operational transparency into the EB-5-based business,” said Joseph C. McCarthy, principal with American Dream Fund. “NES Financial’s secure financial solutions mean our clients can easily track their investments as monies move into the United States .”
NES Financial’s EB-5 Administration Solution brings Regional Centers an approach that provides for rapid system implementation of easy, automated deposit administration solutions. The solution combines proven and proprietary industry-leading software – which currently administers billions of dollars annually in complex multi-party escrows – and a client-focused team with decades of financial services experience. NES Financial subject matter experts work with Regional Center executives to quickly set up accounts and investor subaccounts as well as develop Regional Center-specific templates and forms to support operations. This combination of robust technology and experienced financial services creates a secure, transparent and compliant solution that delivers immediate benefits to Regional Centers and their investors.
“When you are dealing with investments across continents and operating within a complex government program, second-rate doesn’t cut it,” said McCarthy. “The NES Financial team really knew how to address complex questions from our overseas investors, demonstrating time and again that they understood how to make the EB-5 administration process run smoothly for American Dream Fund’s overseas investors.”
“The American Dream Fund is one of the most recognizable EB-5 organizations in the United States , and we’re pleased that they have chosen our EB-5 Administration Solution to administer funds associated with job creation in Hollywood ,” said Michael Halloran, president and CEO of NES Financial. “The experience of our client services team, combined with the proven benefits of our eSTAC-based EB-5 platform, delivers a one-two punch for protection of funds involved in the EB-5 visa program, bringing benefits to investors and Regional Centers throughout the project.”
NES Financial’s proprietary eSTAC technology platform provides the foundation for highly scalable and compliant administration solutions that deliver consumer protections to all parties involved in complex, multi-party escrows. Bringing unmatched transparency to investors during every stage of individual transactions, the secure eSTAC platform delivers efficiencies, automation and embedded business processes shaped by subject matter expertise that allows NESF to easily move into new, niche or underserved markets.
For more information on NES Financial’s EB-5 Administration Solution contact NES Financial at (800) 339-1031 or by visiting www.nesf.com.
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