The SEC's Oct. 30 adoption of final rules regarding crowdfunding could mean credit unions are a step closer to having more active roles in connecting members with entrepreneurs who need capital.
Crowdfunding marketplace GrowthFountain and credit union research firm Callahan & Associates, which announced a strategic partnership about a year ago, are vying for a big piece of that market via co-branded websites for credit unions that lead directly to a database of businesses looking for capital.
"A lot of people are on hold because Title III of the JOBS Act is delayed and delayed and delayed," Callahan Managing Partner Jon Jeffreys said. "Crowdfunding has been around for accredited investors, but what Title III does is allows individuals to participate. I think you'll see a lot of momentum, probably in the second quarter of next year, once the SEC rules become finalized."
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