A restaurant in South Florida banks on EB-5 funding for expansion

South Florida local restaurant Tap 42, just sealed the S4.5 million EB-5 loan last week. Tapco Restaurant

Group, which owns Tap 43 Craft Beer Bar & Kitchen has stores in Boca Raton, Fort Lauderdale and will

open Coral Gables gastropub at 301 Giralda Avenue.

Roger Bernstein, the co-founder of a South Florida based regional EB-5 center called American Life

Investments is responsible for financing Tapco. Miami property management was informed by Bernstein

that the best industry for an EB-5 loan is the restaurant industry since is creates a big impact in the

community, it creates both indirect and direct job.

The EB-5 visa program permits permanent U.S. residency to investors and their immediate family

members. These investors must make a minimum of 10 domestic jobs and invest a sum of at least

$500,000 to $1 million in an American business venture.

Roger Bernstein believes that more restaurant groups in South Florida will apply for an EB-5 funding. An

EB-5 loan is appealing, the interest rate is only 6% and the loan timeframe can be stretched to 6 years.

He also believes that foreign investors will be drawn to EB-5 because these foreign investors understand

that investing in restaurants creates a lot of opportunities for both the restaurant owner and the local

community.