Florida crowdfunding is almost here. Businesses have waited a long time for federal legislation by the Securities and Exchange Commission under Title III, which is still stalled. to be finalized. Florida recently joined around 16 other states by creating a new Florida crowdfunding option for Florida businesses. After being signed by Gov. Rick Scott, these new regulations will go into effect on Oct. 1 2015, and will allow Florida businesses to raise up to $1 million per year i working capital from Florida residents, in exchange for equity stake.
These new regulations will let Florida crowdfunding portals to conduct business in the state of Florida. The bill requires that both investors and businesses reside within the state and also mandates specific consumer protections. With the passing of this legislation, Florida will join a growing list of roughly 16 other states that have passed their own Intrastate Crowdfunding laws.
For a long time, federal and state regulations have made it extremely difficult for companies to raise working capital from investors other than friends and family, or high net worth individuals. Florida crowdfunding breaks through those barriers by allowing businesses to use the internet to raise money from the general public, limited to residents within the state of Florida, and this drastically increases company access to potential investors. State residents also stand to profit from this new legislation, by allowing them to invest in vetted deals within their hoe state, and spread their investment dollars outside traditional 401s and Wall Street.
Review the current Florida Crowdfunding Exemption:
So how does CrowdForce help you with your intrastate equity crowdfunding needs? Since 2012, we have offered the most secure and flexible white label crowdfunding software on the market! If you are planning to operate a portal for Florida equity crowdfunding under the state exemption, follow the “Learn More” link to find out about all product details, and get in touch with a sales agent to get more information on how our software works for Florida equity crowdfunding. We have launched portals for partners in Indiana, Texas and Alabama in 2014 and are the top choice for cost effectiveness, and the quickest launch times.
Here are just a few features for instrastate equity crowdfunding included in the CrowdForce platform software:
• State residency self-verification
• Driver’s license upload for verification
• Setting funding limits for non-accredited investors
• Allowing accredited investor participation
• Complete and simple document signing and management
• Integrated ACH payments
• Plug in your state escrow account
• Plugin in your broker services for accredited investments
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