WRAL TechWire Article: New intrastate portal aims to give crowdfunding a boost in North Carolina
PRESS RELEASE: Cardinal Crowdfund Solutions Forms Strategic Partnership with LogicBay to Support Equity Crowdfunding in North Carolina
First-of-its-kind bundled technology and professional services are now available to help entrepreneurs take advantage of an exciting new funding option. WILMINGTON, NC, UNITED STATES, April 12, 2018 /EINPresswire.com/ -- Cardinal Crowdfund Solutions, LLC announces its strategic partnership with LogicBay to offer equity crowdfunding services to North Carolina businesses as they seek North Carolina investors under the NC PACES Act.
The NC PACES Act became effective April 1, 2017, making it possible for startups and small business owners to raise up to $2,000,000 through equity crowdfunding. The new regulations were created to foster the growth of North Carolina businesses through North Carolina investors, but there has been very little adoption since the NC PACES Act took effect due in part to a lack of access to the crowdfunding portal technology required under the new laws. However, on February 21, 2018 the North Carolina Department of Secretary of State, Securities Division, issued LogicBay Corporation a notice of effectiveness of registration pursuant to 18 NCAC 06A .2035 making LogicBay’s integrated FundingStack™ the State’s first authorized intrastate funding portal.
While LogicBay provides the technology, Cardinal Crowdfund Solutions provides a turnkey suite of services to make equity crowdfunding more accessible for those desiring to raise money under the regulations.
• Bundled crowdfunding services that accelerate the funding process from planning and fundraising through post-funding reporting
• Cost-effective access to the NC PACES compliant FundingStack™ crowdfunding portal
• An alternative to hiring multiple entities including broker/dealers, attorneys, accounting firms, marketing professionals and other professional service providers to represent a company’s crowdfunding offering.
“This is an exciting time for equity crowdfunding in North Carolina,” said Donald Seifert, CEO of Cardinal Crowdfund Solutions. “The NC PACES Act sets the stage for small businesses in North Carolina to have another channel to raise the funds necessary to grow and sustain their businesses. However, there has been no effective and efficient way to conduct an offering until now. Cardinal Crowdfund Solutions is excited to provide these companies the guidance and expertise needed to execute a successful crowdfunding campaign.”
The partnership has also launched a informational website, www.INVESTinNC.com, that provides a variety of resources on crowdfunding through the NC PACES Act. It will also soon provide a directory of NC-based businesses seeking crowdfunding investment from North Carolina investors.