Equity Crowdfunding by the general public coming soon! The SEC has approved the rules, and crowdfunding from non-accredited investors will likely begin in the May/June timeframe (180 days after the detailed rules are officially published). Startups can raise up to $1 million in 12 months. Individual investments are capped at 5% of a persons net worth or income or $2k (the greater number) for investors with a net worth or income under $100k; and 10% of the lesser of their net worth or income for those >$100k. No one can invest more than $100k/year in online equity crowdfunding. Startup financial information needs to be reviewed by a CPA and there are other requirements which will be made clearer when the rules are published in the Federal Register. Start your engines (and get your financials in order)! Good article here.
Equity Crowdfunding by the general public coming soon! SEC approved rules.
