the mistake that the representative is making is to imagine actual piles of Dollar bills being held in a safe in a foreign country (that does happen to quite a large extent with US currency, but the holders tend to be in a very different business to Apple, Facebook….etc).
A lot of the foreign profits made by US corporations with multinational operations will already have been exchanged into USD. Those USD would already be a number in an account held at a bank that has an account at the Fed, or held as Treasuries, or corporate bonds, or other USD denominated securities in an account at a US custodian institution.
The ‘money’ is already ‘onshore’, it’s just the name of the account holder is ‘offshore’. If the profits are brought ‘onshore’, the only real change will be that the account holder will change to a US entity from a foreign entity. There will be no ‘new money’ made available for lending. It is, in the main, already being lent to the US government and US companies.