A New Way to Get Small Business Loans From NeighborsBy
Even before President Barack Obama signed the JOBS Act into law in April 2012, explanations for how crowdfunding would be a boon to Main Street often went something like this: An entrepreneur wants to open a coffee shop. Instead of running up credit-card debt or groveling at the bank, she sells shares in the business to her java-loving neighbors and raises enough to open. The neighbors get caffeinated and are motivated to support the business in which they’ve invested.
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