EB-5 investors naturally focus on immigration eligibility, job creation, processing expectations, and the experience of the regional center. Those questions matter, but they do not fully explain what protects an investor’s capital at the project level. Two offerings may support the same immigration objective while placing EB-5 capital in very different positions. One may use a First-Lien Senior Secured Loan; another may invest through Preferred Equity or Common Equity. The di