BETHESDA, Md., March 27, 2024 (GLOBE NEWSWIRE) — EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, D.C. area, today announced it has provided a $50,000,000.00 Guidance Line of Credit to EB5 USA Immigration LLC, an affiliate of EB5 Capital. This loan, which highlights EagleBank’s lending capacity in this specialized space, will supply pre-funding or bridging preferred equity in EB5 real estate projects.
“At EagleBank, we take pride in our abilities in this unique sector of the market, quickly and efficiently processing foreign investor accounts that will better serve the economy and create new jobs,” said Lindsey Rheaume, Executive Vice President and Chief Lending Officer for Commercial and Industrial (C&I). “Through this new loan, we look forward to expanding EagleBank’s reach on a national scale as we develop new opportunities for our customers by further expanding our C&I portfolio.”
The transaction was handled by Executive Vice President, Senior Market Executive/C&I Lending, John Richardson, and other members from EagleBank’s experienced C&I team.
“This credit facility is a vital tool for us to be able to provide capital to our developer partners in a timely manner. The team at EagleBank took the necessary time to understand our business, listen to our needs, and structure a credit facility that met our objectives,” said Joseph Tilley, Chief Financial Officer, EB5 Capital. “As we have scaled our business over the past decade or more, EagleBank has been a great partner in processing our foreign investor accounts. Providing this credit facility illustrates how EagleBank can grow with their customers, meet a wide range of their needs, and be an integral part of their success.”
Established in 2008, EB5 Capital helps foreign investors gain permanent residency in the United States through investments in U.S. businesses. They raise capital for projects within the guidelines of the EB-5 Immigrant Investor Program (EB-5 Program), a U.S. government effort that encourages investment in job-creating ventures. EB5 USA Immigration LLC operates six USCIS-authorized Regional Centers serving 30 states.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across more than 35 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.
