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EB-5 Finance Resource Center

The EB-5 program is a federally-authorized visa category created by Congress in 1990. The primary concept is to encourage foreign investment in job-creating U.S. economic development projects or companies in return for a U.S. green card. These projects or companies must create or retain 10 full-time jobs in the states, and a minimum investment of $1M is required. This investment can be reduced to $500K, if the investment is made in a high unemployment or rural area. Once the investment in a qualifying project or company has been made, the investor receives a conditional green card for two years. After two years, the investor must prove that their investment has been maintained, and that the 10 jobs continue to exist. At this point, the conditional status is removed.

EB-5 projects are typically financed through Regional Centers, which can accept the investment from the green card-seeking investor. The U.S. government sets aside 10K green cards each year for foreign investors participating through designated Regional Centers. The centers invest in projects that meet all of the program criteria. Using the EB-5 program is not simple, and there are significant investment and timing rules that must be followed. These rules can mean the difference between an investor receiving a green card or being deported. Consult and work only with reputable and qualified Regional Centers, immigration lawyers, and project finance experts. EB-5 financing is available in every state and city in the country.

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+Understanding EB-5

The EB-5 Visa program is a useful tool for development finance professionals. CDFA has collected many resources to help you understand this important tool.

Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Assembling Capital for Mixed-Use DevelopmentMembers only Login
Thomas Porter, Director of Commercial Lending at the Vermont Economic Development Authority, discusses unique development financing solutions for mixed-use development.
Making the Most of EB-5 in OhioMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Ohio is no exception. Kostas Poulakidas of Taft Stettinius & Hollister LLP, David Black of Ulmber & Berne LLP, and Stephen Strnisha of Cleveland International Fund share basics of the program, case studies and considerations for using this valuable tool in Ohio.
Lincoln Stone, Foreign Direct Investment and the EB-5 ProgramMembers only Login
Lincoln Stone discussed the latest on EB-5 in California and how it is used in various regions of the state.
Funding Brownfield Projects with EB-5 Program
This article from Schnapf, LLC examines the EB-5 program and how can provide alternative financing for brownfield redevelopment.
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+Regulatory and Legal

There are many regulations and legislative measures for the EB-5 Visa program. CDFA has collected dozens of resources to help you understand these measures.

Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Lincoln Stone, Foreign Direct Investment and the EB-5 ProgramMembers only Login
Lincoln Stone discussed the latest on EB-5 in California and how it is used in various regions of the state.
Funding Brownfield Projects with EB-5 Program
This article from Schnapf, LLC examines the EB-5 program and how can provide alternative financing for brownfield redevelopment.
What TEA Projects Might Look Like Under EB-5 2.0Members only Login
In a working paper published by the NYU Stern School of Business, authors Jeanne Calderon and Gary Friedland explore how targeted employment projects would evolve if proposed EB-5 rule changes are passed by Congress.
Bluegrass International FundMembers only Login
Lynn Allen from Bluegrass International Fund (BiF) explains the depth and diversity behind EB-5 bonds and their varied uses.
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+Case Studies

EB-5 finance is an important tool for attracting new investment in the United States. CDFA has dozens of case study examples.

Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Assembling Capital for Mixed-Use DevelopmentMembers only Login
Abby Goldenfarb discusses unique development financing solutions for mixed-use development.
The Ark Project at JFKMembers only Login
JFK International Airport’s latest redevelopment project is a unique one: a $65 million, 178,000 square foot state of the art facility for pets. The Ark at JFK will offer pre-flight micro-chipping, kennels, an aviary, and more. This large-scale project employed a creative financing approach that required a number of years to execute.
Making the Most of EB-5 in OhioMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Ohio is no exception. Kostas Poulakidas of Taft Stettinius & Hollister LLP, David Black of Ulmber & Berne LLP, and Stephen Strnisha of Cleveland International Fund share basics of the program, case studies and considerations for using this valuable tool in Ohio.
CDFA // BNY Mellon Webcast Series: Capturing the Success of High Performing DFA'sMembers only Login
This month’s CDFA // BNY Mellon Development Finance Webcast Series on Capturing the Success of High Performing DFA's featured Tim Fisher of CDFA, Paul Toth of Toledo-Lucas County Port Authority, Gary Smith of Chester County Economic Development Council, Samuele Bozzolla of Allegheny County, and Juan Salgado of Phoenix Industrial Development Authority.
More Case Studies

+Headlines

Communities throughout the country use EB-5 finance every day and CDFA collects headlines on projects and news daily.

The Unique Challenges of EB-5 Defaults
Commercial Property Executive | May. 21 | EB-5 Visa
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+Webcasts

CDFA // BNY Mellon Webcast Series: Capturing the Success of High Performing DFA'sMembers only Login
This month’s CDFA // BNY Mellon Development Finance Webcast Series on Capturing the Success of High Performing DFA's featured Tim Fisher of CDFA, Paul Toth of Toledo-Lucas County Port Authority, Gary Smith of Chester County Economic Development Council, Samuele Bozzolla of Allegheny County, and Juan Salgado of Phoenix Industrial Development Authority.
CDFA Kentucky Webcast: Understanding the EB-5 Model in KentuckyMembers only Login
During this CDFA Kentucky Financing Roundtable Webcast in partnership with the Bluegrass International Fund, President & CEO Lynn Allen and Executive Director of IIUSA, Peter Joseph explored the EB-5 Model in Kentucky. 
CDFA // BNY Mellon Webcast Series: The Emergence of EB-5 and BondsMembers only Login
This webcast delved into the possible combination of bonds and EB-5 as financing tools for development by panelists Angelique Brunner of EB-5 Capital and Peter Joseph of IIUSA.
How California is Making the Most of EB-5
In this CDFA webcast, our expert panelists including Peter Joseph of IIUSA, Mariza McKee with Kutak Rock, and Kraig Schwigen with CMB Regional Centers present on the impact being made by EB-5 in California, key rules and regulations, and considerations for incorporating EB-5 into potential projects.
CDFA-Stifel Nicolaus Innovative Deals Webcast Series: HotelsMembers only Login
The recent economic environment has made hotel development difficult. Now, many deals are being financed with creative uses of funds, including bonds, tax credits, and EB-5. This webcast, DJ Effler of Bellwether Enterprise, Laura Radcliff of Stifel Nicolaus, and Angel Brunner of EB5 Capital discussed the latest in hotel development, showcased recent ground-breaking deals, and evaluated how the financing was assembled.
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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
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  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
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  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Grant Thornton LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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