When the Jumpstart Our Business Startups (JOBS) Act passed recently, many columnists and bloggers began weighing in with varying opinions, and some conjecture that may have muddied the waters.
As I’ve written before, thousands of us entrepreneurs will benefit from the law. This could become a very viable and exciting way for small companies to raise capital. But not yet. The Securities and Exchange Commission (SEC) has nine months to draw up the regulations.
As regular readers know, I’ve been writing about crowdfunding to raise investment capital since February 2011. My dream was shattered almost immediately by my trusted attorney, Chuck Hertlein, a partner of Dinsmore and Shohl in Cincinnati, who quickly pointed out that SEC rules prevented me from using crowdfunding in a way that would reward small investors with real investment opportunity while enabling me to raise additional capital to create jobs in rural USA.
The JOBS Act will change the environment for crowdfunding. Chuck’s conclusion: “The JOBS Act contains some real goodies, and does have the potential to reinvigorate middle-market financing in the U.S.”
Ahh, the dream is alive! As we wait for the crowdfunding regulations, I sat down with Chuck to get his insights.>>> READ MORE at: