SRC, partnered with Ajin USA to provide economic development and stimulus to a Target Employment Area (TEA) in rural Alabama. With foreign investment secured by SRC, Ajin USA’s auto manufacturing production lines embody a vision and careful implementation of EB-5 investments for the region’s growing economy. SRC has successfully launched five projects in collaboration with Ajin and Wooshin USA as follows:-
SRC AJIN FUND I, LLC
SRC AJIN FUND II, LLC
AJIN USA FUND III, LLC
SRC AJIN WOOSHIN FUND IV, LLC
SRC AJIN WOOSHIN FUND V, LLC
Ajin USA is in Chambers County, Alabama. It is a subsidiary of its parent company in South Korea. Ajin USA manufactures components of auto parts, body frames, and is a tier 1 supplier to Kia Motors Georgia (KMMG) and Hyundai Motor Company (HMMA). Ajin has had a forty (40)- year- long business relationship with Hyundai and Kia. With leading global auto manufacturers relocating & investing in Alabama, SRC has worked hard to bring EB-5 investments into this industry sector in a geographic location that very much needs economic stimulus for development and job creation, which is the essence of the United States EB-5 program.
Successfully Closed Projects
SRC AJIN-WOOSHIN FUND V - CLOSED
SRC Ajin-Wooshin Fund V, raised $27.5 million from 55 EB-5 investors. The proceeds of the offering were loaned to Ajin USA to acquire and construct new production equipment and assembly lines in its existing manufacturing facility located in Chambers County, Alabama.
This project was pre-approved for EB-5 investments by the USCIS, meaning the project portion of the I-526 petition had been approved for faster and easier immigration processing.
Based on a comprehensive Economic Impact Analysis (EIA) performed by Evan’s, Carroll & Associates, the expansion project accommodated 722 jobs, thus providing sufficient jobs for each investor.
PROJECT SUMMARY
• Project Name | SRC Ajin-Wooshin Fund V, LLC |
• Total number of EB-5 Investors | 55 |
• Min. Purchase per Investor | $500,000 |
• Tatal Jobs Created | 722 |
• I-526 Approval | 100% for those adjudicated |
• I-829 Approval | Pending Adjudication |
• Return Of Investment | 100% Return to those qualified |
$27.5M
Loan Amount
$500K
Individual Investment
722
Jobs
SRC AJIN-WOOSHIN FUND IV- CLOSED
SRC provided a $13.5 million loan to Wooshin USA, enabling its manufacturing facility to acquire additional production equipment. This loan also helped Wooshin USA to construct new production lines.
All Fund IV investors received their I-526 approvals and conditional green cards. One investor is now in the process of filing I-829 petition.
• Project Name | SRC Ajin-Wooshin Fund IV, LLC |
• Total number of EB-5 Investors | 27 |
• Min. Purchase per Investor | $500,000 |
• Tatal Jobs Created | 335 |
• I-526 Approval | 100% approval |
• I-829 Approval | Pending Adjudication |
• Return Of Investment | 100% Return to those qualified |
27
Investors
$13.5M
Loan Amount
$500K
Individual Investment
335
Jobs Created
SRC AJIN FUND III-CLOSED
SRC Ajin Fund I, used the $3.5 million loan from SRC to execute a new line of auto manufacturing facility.
• Project Name | SRC Ajin-Wooshin Fund III, LLC |
• Total number of EB-5 Investors | 7 |
• Min. Purchase per Investor | $500,000 |
• Tatal Jobs Created | 215 |
• I-526 Approval | 100% approval |
• I-829 Approval | 100% approval |
• Return Of Investment | 100% Return of Investment |
7
Investors
$3.5M
Loan Amount
$500K
Individual Investment
215
Jobs Created
SRC AJIN FUND II-CLOSED
The $5 million loan from SRC enabled Ajin USA to construct a new production line.
• Project Name | SRC Ajin-Wooshin Fund II, LLC |
• Total number of EB-5 Investors | 10 |
• Min. Purchase per Investor | $500,000 |
• Tatal Jobs Created | 309 |
• I-526 Approval | 100% approval |
• I-829 Approval | 100% approval |
• Return Of Investment | 100% Return of Investment |
10
Investors
5M
Loan Amount
$500K
Individual Investment
309
Jobs Created
SRC AJIN FUND I-CLOSED
SRC provided a $5 million loan to Ajin USA to assist with the construction of a new production line in its existing manufacturing facility in Chambers County, Alabama. The manufactured parts were used in various Kia and/or Hyundai automobiles.
10
Investors
$5M
Loan Amount
500K
Individual Investment
309
Jobs Created