A partnership between the New York City-based GrowthFountain, an equity crowdfunding platform, and the $7.6 billion, Marlborough, Mass.-based Digital Federal Credit Union enables entrepreneurs to raise capital and members to invest.
Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the internet.
The JumpStart Our Business Startups Act, or JOBS Act, which passed in 2012, encourages small business funding in the United States by reducing many securities regulations. Under new SEC rules effective May 16, 2016, the public can now help finance start-up companies.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
