MCFI Announced the Receipt of Its First EB-5 Loan Repayment
Maryland Center for Foreign Investment, LLC (MCFI), the first federally designated regional center in the state of Maryland, today announces the receipt of its first EB-5 loan repayment from its construction loan to Live! Casino in Hanover, Maryland. Of the 200 investors, all 190 investor-families which have had their petitions fully adjudicated, have successfully received permanent green cards by investing in MCFI’s loan to this project. These investor-families will now begin to receive their respective principal repayments and accrued interest distributions as the Live! Casino construction loan is incrementally repaid through Q1 2019.
The initial repayment marked the first project loan term maturity for MCFI’s inaugural EB-5 project. The proceeds of the $100 million EB-5 loan helped develop the award-winning Live! Casino project, which has been widely credited with creating thousands of construction jobs, over 3,000 ongoing permanent jobs, as well as contributing over $1.5 billion in taxes to State of Maryland. The project was completed in the summer of 2012.
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