logo
logo

Washington set to hoist tech upstarts' crowd-funding limit to $5m

avatar
William Hill
Jul 06, 2016 21:55
img

A pair of newly passed bills in the US Congress will increase the amount of money tech startups can raise to cover their early expenses.

The Fix Crowdfunding Act HR 4855 and the Supporting America's Investors Act HR 4854 will raise the limits on money that companies can gather through crowdsourcing and venture capital channels.

Both bills were penned by Congressmen Kevin McCarthy R‑CA and Patrick McHenry R‑NC , and passed today by the House of Representatives.

Their next steps will be taken in the Senate, where they are expected to enjoy an easy walk into the law books.

Congresscritters hope that the bills will ease the process for startups wanting to raise money outside of the traditional bank loan.

The Fix Crowdfunding Act looks to raise the maximum amount of money a startup can gather from crowdfunding efforts from $1m to $5m.

collect
0
avatar
William Hill
Jul 06, 2016 21:55
guide
Zupyak is a free content platform for publishing and discovering stories, software and startups.