Michigan Gets Its First Equity Crowdfunding Platform Under Intrastate Law
Michigan Funders and CrowdEngine Launch First M.I.L.E. Act Crowdfunding Platform
SALT LAKE CITY, Feb. 25, 2015 /PRNewswire/ — MichiganFunders.com, built on the CrowdEngine crowdfunding platform, announced the launch of the first M.I.L.E. Act Equity Crowdfunding platform. Under the Michigan Invests Locally Exemption or “M.I.L.E. Act”, state residents can now invest up to $10,000 per investment, per year, in startups, existing businesses, and real estate via crowdfunding platforms.
“CrowdEngine is proud to have been part of many crowdfunding ‘firsts’, and this is another key milestone in bringing equity crowdfunding to the world. This is the same technology trusted by investors and entrepreneurs around the world, but now we’re enabling a new investment experience for intrastate crowdfunding portals that is accessible, efficient, and secure,” said Jim Borzilleri, President.
“Michigan Funders firmly believes that the pursuit of dreams is an inalienable right, and should not be denied or deferred because of access or wealth. Within that is our belief that investors should be allowed access to investments, and businesses should be allowed access to capital – both within a truly democratic market,” said Niles Heron, Chief Business Development Officer at Michigan Funders.
CrowdEngine’s software to crowdfund equity investments via the M.I.L.E. Act, Michigan Funders offers:
- User-Friendly Tools – That simplify the creation, promotion and securing of new investments for small businesses.
- Align Investors to Investments – With access to a broader range of locally based investments not limited by federal requirements of existing personal relationships, “accredited” investor status, or other federal compliance requirements.
- Streamline due diligence – A new population of investors and entrepreneurs can focus more on fundraising instead of paperwork, with digitized templates, automation and e-signing during the checkout processes.
- Increased Convenience – Michigan residents can now browse investments anytime, from anywhere, on any device.
- Investor Management – Once investments are complete, companies and entrepreneurs have one simple tool for investor communication, payouts, dividends, and quarterly updates.
Organizations interested in learning about CrowdEngine’s software solutions or Michigan Funders’ historical M.I.L.E Act crowdfunding portal can get more information at www.crowdengine.com or www.michiganfunders.com.