When can I draw EB-5 funds?
If there is no escrow account:
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- then the NCE release conditions depend on the project documents (PPM, EB-5 Loan Agreement if applicable, NCE and/or JCE operating agreement if applicable, etc.)
- Assuming the draw request conditions are met in the project documents, then a draw request can be submitted on the PRXY portal.
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- first, the funds must be released from escrow via a signed Written Direction. The investor(s) documents must be uploaded to PRXY as part of this process.
- once the funds are released from the escrow account to the NCE segregated account, the same draw conditions above apply