Borrowed money is not excluded from E-2 investment analysis, so card-funded expenses may count when the investor is personally liable and the borrowing is not secured by the assets of the United States enterprise. Lawful source, the path into the business, genuine commitment and exposure to loss still have to be shown for each charge.
Test each card, not the card total
Cards differ. One may be a personal account in the investor's name; another may be issued to a company and secured by its receivables. Treat them separately rather than presenting one combined figure. For each account, note the holder, the security position, and the specific business payments it funded. Where the answer is unclear from the statement alone, an issuer letter or the account agreement can supply facts for counsel’s review.
The investor and the ownership must be Canadian to the extent of the treaty requirement, which 60% Canadian ownership satisfies since the enterprise is treated as having the nationality of its majority owners. Evidence should show lawful funds placed irrevocably at risk, treaty nationality, a real business that will not be marginal, and at least 50 percent ownership or other operational control for development and direction.