On July 2, 2026, DHS published a sweeping proposed rule that would, for the first time, turn the EB-5 Reform and Integrity Act of 2022 into actual regulations. Since RIA passed back in March 2022, USCIS has largely run the EB-5 program on policy guidance and informal practice rather than a finished rulebook. This 358-page proposal is meant to close that gap, and one piece in particular is getting a lot of attention from developers and regional centers: bridge financing.
What’s Changing With Bridge Financing
Many EB-5 projects start construction using short-term bridge loans, then repay those loans once EB-5 investor capital comes in. Under current practice, that repayment can still count toward the jobs a project needs to create for EB-5 purposes. The new rule would eliminate job creation credit tied to repaid bridge financing in a wide range of circumstances, which could change how developers line up financing well before EB-5 capital is even raised.
Other Notable Pieces of the Proposal
Bridge financing isn’t the only change on the table. The proposal would formally define targeted employment areas, give USCIS clearer authority to run audits and site visits of regional centers, and eliminate the troubled business pathway that let investors qualify by preserving jobs at a financially struggling company instead of creating new ones. DHS notes that pathway has historically made up less than 1% of EB-5 petitions.
Nothing Is Final Yet
None of this is in effect. DHS could revise the proposal, narrow it, or drop pieces of it entirely after reviewing public comments. Still, for regional centers, developers, and investors weighing timing, this is worth watching closely alongside the September 30, 2026 grandfathering deadline for the Regional Center Program.
Frequently Asked Questions
Is the bridge financing change already in effect?
No. This is only a proposed rule. Nothing changes for current filings unless and until DHS issues a final rule.
How long is the public comment period?
Comments are due by August 31, 2026, which is 60 days after the July 2 Federal Register publication.
Does this affect investors who already filed?
The proposal mainly targets future filings and project structuring, but investors and regional centers with pending matters should still review it closely given how case-specific EB-5 adjudications can be.
What happens to the troubled business investment pathway?
The proposal would eliminate it entirely. DHS says it accounts for a very small share of petitions and doesn’t align with the program’s core job creation goal.
Should I change my EB-5 strategy now based on this proposal?
Not based on a proposed rule alone. It’s worth discussing with an immigration attorney how this proposal, if finalized, could affect your specific timeline and filing plans.
If you have questions about how this proposed rule could affect your EB-5 plans, our attorneys are available to help evaluate your options.
If you or your family members have any questions about how Special Immigrant Juvenile Status or other immigration matters may affect you, or if you want to access additional information about immigration and nationality laws in the United States or Canada, please do not hesitate to contact the immigration and nationality lawyers at NPZ Law Group. You can reach us by emailing info@visaserve.com or by visiting our website at www.visaserve.com for more information.