July 10th, 2013 was a monumental day for Fundable and startups across the country. The SEC announced that the ban on general solicitation has been removed for small businesses seeking startup capital, allowing for sweeping changes in the way businesses find funding. This announcement is a productive step forward to fully enact the Jumpstart Our Business Startups Act (JOBS Act) passed in early April of 2012. With general solicitation now permitted, startups have the opportunity raise money from a wider range of investors – potentially accelerating their funding.
With the SEC’s recent announcements, we've gotten an outpouring of questions about the JOBS Act, and what it means for entrepreneurs and the equity crowdfunding industry. The infographic below details the changes to come with yesterday’s announcement and explores the ways it will affect entrepreneurs as they seek funding.
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