Crowdfunding investments are coming to Texas in September.
The Texas State Securities Board is in the final rule-making phase of allowing small businesses in the state to solicit up to $1 million annually from unregistered and accredited Texas investors via online crowdfunding portals.
The investors, who can invest up to $5,000 a year in portal offerings, will receive equity shares in the companies in return.
Previously, crowdfunding over the Internet through websites like Kickstarter and Indiegogo has been limited in the state to people who wanted to contribute to a company or cause without any financial return other than promotional items. Now they will receive shares in the company.
Texas will become the 13th state to allow such individual investments to be made over the Internet, Texas Securities Commissioner John Morgan said.
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Check out more at Crowdocracy.org:
1) Top 10 Crowdfunding Campaigns of this week
2) Top 10 Crowdfunding US Sites of this week
3) Top 10 Crowdfunding Global Sites of this week
4) The latest Reality Check from Crowdocracy
Check out more at Crowdocracy.org:
1) Top 10 Crowdfunding Campaigns of this week
2) Top 10 Crowdfunding US Sites of this week
3) Top 10 Crowdfunding Global Sites of this week
4) The latest Reality Check from Crowdocracy
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