EB-5 Immigrant Investor Program is a federal program created to encourage overseas investment into approved projects to help drive job creation within the united states.
Foreign nationals who make qualifying investments receive priority status for attaining lawful permanent U.S. residency for themselves and family members. Since the creation of EB-5 in 1990, it has emerged as an important source of project capital.
How does EB-5 Work?
The vast majority of EB-5 transactions occur via regional centers - federally licensed by U.S. Citizen and Immigration Services. The Port Authority has an exclusive relationship with the Cleveland International Fund to bring their existing EB-5 regional center to Cincinnati.
The Cleveland International Fund is a private equity firm with a national reputation of EB-5 deal financing. It has accomplished more than $220 million in EB-5 financing and achieved a final and important measure of program success - delivering permanent green cards to project investors.
What is the Process?
CiF and borrower agree to loan terms
CiF raises EB-5 funds and places them in escrow
12 Months (approx.)
Funds are released from escrow as EB-5 investors are approved by USCIS; to repay interim financing
2 Years after first finds are released into the project
Borrower provides CiF with job creation data
5 Years after final finds into the project; no longer than 66 months
Borrower repays finds at the end of loan term
- Minimum $30 MM project, necessary to obtain the required job creation
- Senior Mortgage or Mezzanine Debt
- 5 Year Term, Interest Only
- Office, Retail, Hotel, Multifamily, Industrial, Infrastructure
- Anywhere in Hamilton County and Urban Areas of Hamilton and Middletown, Ohio
One of the defining aspects of EB-5 is its job creation requirement. For every $500,000 of EB-5 investment, 10 jobs must be created within two years.