EagleBank Provides $50 Million Loan to EB5 USA Immigration LLC to Promote Foreign Investment in Real Estate
March 27 2024 - 6:00AM
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.
About Eagle Bancorp, Inc. and EagleBankEagle
Bancorp, Inc. is the holding company for EagleBank, which commenced
operations in 1998. EagleBank is headquartered in Bethesda,
Maryland, and conducts full service commercial banking through 13
offices, located in Suburban, Maryland, Washington, D.C. and
Northern Virginia. EagleBank focuses on building relationships with
businesses, professionals and individuals in its marketplace.
EagleBank ContactVikki KayneChief Marketing
Officer301.986.1800
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
From Jul 2024 to Aug 2024
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
From Aug 2023 to Aug 2024