Baker Tilly verifies $64.3 million in EB5AN repayment records

EB5AN said Baker Tilly reviewed repayment records tied to six past Kolter-developed EB-5 projects and found no differences in its comparisons. The independent report covers $64.3 million in original capital and gives investors another document to evaluate the firm’s historical track record.

Why it matters: - EB5AN is using an outside accounting firm to back up its past repayment track record with documentation investors can review. - The report is meant to strengthen due diligence around EB-5 fund performance and repayment history. - The findings matter to investors because they relate to actual repayments received by the named funds, not just marketing claims.

What happened: - EB5AN engaged Baker Tilly to perform agreed-upon procedures on records supporting repayments from six past Kolter-developed EB-5 projects. - Baker Tilly issued an Independent Accountants’ Report to EB5AN Management and Consulting, LLC. - The report found no differences in any comparison. - The report covers repayments received from July 23, 2015, through May 29, 2026. - Investors can request a copy of the report by scheduling a free consultation with EB5AN.

The details: - The report covers five loans and investments repaid in full, representing $64.3 million in original capital. - The covered projects and funds are VUE Sarasota, Mark Sarasota, Saltaire St. Petersburg, Water Club North Palm Beach and Twin Lakes Georgia. - The sixth project, ONE St. Petersburg, is also covered in the report. - The majority of ONE St. Petersburg’s loan was repaid early. - The remaining amount is expected to be repaid at maturity in early 2027. - The findings relate to repayments received by the named funds. - Distributions to individual investors follow the terms of each fund’s governing documents. - Baker Tilly compared lender or investor names with executed agreements. - Baker Tilly compared historical loan balances with corresponding income tax returns. - Baker Tilly traced repayment amounts and dates to bank statements received directly from third-party financial institutions. - Baker Tilly inspected payoff documentation and compared applicable payments with supporting records. - No differences were noted in any of those comparisons. - Statements obtained directly from financial institutions provide an external record for comparison with information supplied by management. - The report lays out the procedures and findings so investors can see how each repayment was verified.

Between the lines: - The review does not appear to be a new audit of the underlying projects; it is an agreed-upon-procedures engagement focused on repayment documentation. - EB5AN is emphasizing transparency and third-party verification as part of its pitch to investors. - Baker Tilly’s independence matters because the engagement was conducted under AICPA attestation standards. - EB5AN is also pointing to its broader track record, including more than 50 EB-5 funds and projects, more than $8 billion in total development value and more than 33,000 qualifying jobs created as of May 2026. - EB5AN says it has secured 34 Form I-956F project approvals and maintained a 100% USCIS project approval rate since founding. - EB5AN says more than 850 investors have received Form I-526E approvals since 2022 and its investors have had a 100% approval rate on adjudicated I-829 petitions as of May 2026.

What’s next: - EB5AN says investors can request the report and discuss the company’s current EB-5 projects in a free consultation. - The remaining balance tied to ONE St. Petersburg is expected to be repaid in early 2027. - EB5AN says independently reviewed repayment records will remain part of how it presents its financial performance to investors.

The bottom line: - Baker Tilly’s review gives EB5AN a third-party paper trail for $64.3 million in historical EB-5 repayments, with no differences found in the underlying comparisons.