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"The greatest obstacle to success is the inability to creatively think of the many ways to accomplish a goal." Kimberly N. Evans, CEO
HOUSTON, TX, December 30, 2013 /24-7PressRelease/ -- Crowdfund Mutual (www.crowdfundmutual.com) to launch January 2014 a rewards-based crowd funding platform, focused on uniting communities sharing common values.
In January 2014, the long overdue rules enacted by the 2012 JOBS (Jumpstart our Business Startups) Act will be in full effect. The Securities and Exchange Commission, after 18 months of sleeping on the job, recently issued the long awaited proposed rules that would allow small businesses to use crowd funding portals to sell interest in their ventures in order to raise capital.
Why is this critical to business across America? Crowd funding gives entrepreneurs in communities that have historically been over looked by Venture Capitalist and Angel Investors, such as women and minority owned, as well as Hispanic and African American businesses, an opportunity to fund start-ups and raise capital for high-growth companies that would not qualify for traditional funding.
Prior to the enactment of these rules under the JOBS Act only "accredited investors" could invest in private companies. These rules allow companies to raise up to $1 million in capital from a broader pool of investors through approved crowd funding portals.
"Communities that are not participating in today's alternative financing environment and instead taking a back-seat or standing against the wall are doing themselves a great disservice," said Kimberly N. Evans, Crowdfund Mutual CEO.
These rules however will have no consequence for rewards-based platforms that only offer some type of non-financial reward in exchange for a monetary donation. Crowdfundmutual.com will offer an upgraded platform later in the 3rd Quarter of 2014 to include equity and debt financing options.
Despite popular beliefs crowd funding is not a new concept. In certain communities the act of neighbors coming together to fund a cause or support a local business in exchange for a "thank you" or cooked dinner was commonplace. Since the execution of "rent parties" in the early 60's, neighbors have banned together in support of one another. The only thing new to modern crowd funding is the use of the Internet to reach potential global neighbors.
Crowdfundmutual.com is a site owned by Game Change Enterprises LLC, a Houston based company founded by Kimberly N. Evans.
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