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Indiana Crowdfunding Rules Announced

Indiana Secretary of State Connie Lawson has announced the rules for crowdfunding in the state to help finance homegrown small business ventures. Lawson says Indiana entrepreneurs can raise up to $2 million and Indiana investors can invest up to $5,000 per opportunity. Crowdfunding is a way of raising money online in smaller amounts from the public. Indiana Securities Commissioner Carol Mihalik says it has the potential to be great capital formation tool for start-up businesses, but Hoosiers need to be aware of the risks.

Congress passed the JOBS Act in April of 2012 authorizing the Securities Exchange Commission to write federal rules for crowdfunding. Those rules have not been finalized. The Indiana General Assembly passed crowdfunding legislation for the state during the 2014 legislative session directing the Secretary of State’s office to write the rules.

“Hoosiers need to be aware of the risks before they invest and they should always do their research before investing. As always, our efforts to fight fraud and impose consequences will continue regardless of the type of investment,”said Mihalik.

“Crowdfunding creates a new way for Hoosier entrepreneurs and investors to invest in Indiana,” said Secretary Lawson. “Previously, entrepreneurs could only solicit funding from wealthy investors, limiting their ability to grow their business and preventing smaller investors from taking advantage of up and coming opportunities. Now, all Hoosiers will have a chance to invest in Indiana.”

For more information and to view the rules, entrepreneurs and investors can view Secretary Lawson’s website www.in.gov/sos/investinindiana. Investors and entrepreneurs with questions about crowdfunding may also call the Securities Division of Secretary Lawson’s office at (317) 232-6681.


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