Governor Rauner has signed intrastate equity crowdfunding into law. This new vehicle for raising capital empowers the small business community by allowing business owners and entrepreneurs to raise capital from a large number of people. In exchange, investors receive a small equity interest in the business.
“Intrastate equity crowdfunding can be a game-changer for the small business community, it will allow business owners and entrepreneurs to invest in, and empower, one another. Many states, including Wisconsin, Indiana and Michigan, have already passed legislation allowing companies to raise money in this way. Passing this legislation has ensured Illinois businesses are able to compete on a level playing field with those in neighboring states, “ said Elliot Richardson, Small Business Advocacy Council, CEO.
We would like to thank our chief sponsors Representative Sente, Senator Cullerton, our coalition members (Coalition to Bring Intrastate Crowdfunding to Illinois; Small Business Advocacy Council, Lakeview Chamber of Commerce, Skokie Chamber of Commerce, Federation of Women Contractors, Winnetka-Northfield Chamber of Commerce, NAWBO Chicago, West Garfield Park Renaissance Corporation, Rev3, Innovation Center Highland Park Chamber of Commerce, Jewish B2B, Belmont-Central Chamber of Commerce , Schaumburg Business Association, GOA Regional Business Association, Austin Chamber of Commerce, Rolling Meadows Chamber of Commerce, Lincoln Park Chamber of Commerce, Niles Chamber of Commerce & Industry, Andersonville Chamber of Commerce, Orland Park Chamber of Commerce, Lincoln Square Ravenswood Chamber of Commerce) and all of our small business advocates that made this a reality!