EagleBank provides a $50 million loan to EB5 USA Immigration LLC to attract foreign real estate investment.

BETHESDA, Maryland, March 27, 2024 (GLOBE NEWSWIRE) - EagleBank (NASDAQ: EGBN), one of the largest commercial banks in the Washington, D.C. area, announced a $50,000,000.00 line of credit for EB5 USA Immigration LLC, an affiliate of EB5 Capital.

This credit, which highlights EagleBank's capabilities in this specialized area, will provide preferred equity for financing or bridge premium assets in EB5 real estate projects.

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“At EagleBank, we take pride in our capabilities in this unique market sector, processing accounts for foreign investors quickly and efficiently, which will allow us to better serve the economy and create new jobs,” said Lindsey Reom, Executive Vice President and Chief Credit Officer for Commercial and Industrial Lending.

"Through this new loan, we eagerly anticipate the expansion of EagleBank's operations on a national level, creating new opportunities for our clients by further expanding our commercial and industrial lending portfolio."

The deal was handled by Executive Vice President and Senior Market Expert in Commercial and Industrial Lending John Richardson, along with other members of EagleBank's experienced Commercial and Industrial Lending team.

“This credit line is an important tool for providing capital to our developer partners in a timely manner. The EagleBank team took the necessary time to understand our business, listen to our needs, and structure a credit line that aligns with our goals,” said Joseph Tilly, CFO of EB5 Capital.

"For over a decade of our business partnership, EagleBank has been an excellent partner in managing the accounts of our foreign investors. Providing this line of credit demonstrates how EagleBank can grow alongside its clients, meet a wide range of their needs, and be an integral part of their success."

Founded in 2008, EB5 Capital helps foreign investors obtain permanent residency in the United States through investments in American businesses. They raise capital for projects in accordance with the rules of the EB-5 Immigrant Investor Program, supported by the U.S. government's efforts to stimulate job creation through investment. EB5 USA Immigration LLC manages six USCIS-approved regional centers serving 30 states.

About EB5 Capital

EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial projects under the United States Immigrant Investor Program (EB-5 visa program). Based in Washington, D.C., EB5 Capital's activities are centered around long-term experience and industry leadership, attracting investors from over 75 countries.

About Eagle Bancorp, Inc. and EagleBank

Eagle Bancorp, Inc. is the holding company of EagleBank, founded in 1998. EagleBank is headquartered in Bethesda, Maryland, and provides full-service commercial banking through 13 offices located in the suburbs of Maryland, Washington, D.C., and Northern Virginia. EagleBank primarily focuses on relationships with businesses, professionals, and individuals in its market.