The question of whether you can use an unsecured loan for your EB-5 investment has seen various changes over time. Here’s the current status and what you need to know. The short answer is YES you can use an unsecured loan for EB-5.
Historical Context
Initially, using unsecured loans for EB-5 investments was permissible. However, this stance changed when USCIS began denying petitions involving unsecured loans. This led to legal challenges, and eventually, a lawsuit was filed and won, prompting the government to revert to allowing unsecured loans for EB-5 investments.
Current Status
As of now, unsecured loans are permitted for EB-5 investments. This means you can use funds obtained through an unsecured loan to meet the investment requirement for the EB-5 visa program.
Important Considerations
- Source of Funds:
- Even with an unsecured loan, you must still prove the lawful source of funds. This involves detailed documentation showing where the loan originates and that the funds are legally obtained.
- Loan Analysis:
- USCIS will analyze the terms and conditions of the loan. This includes verifying the legitimacy of the lender and ensuring that the loan complies with all relevant regulations.
For comprehensive guidance on using unsecured loans for your EB-5 investment and ensuring compliance with all requirements, explore our free resources and schedule a consultation with our expert immigration attorneys today.
