It's not your father's investment, and it's not Kickstarter. Interstate crowdfunding is the subject of a new law in Illinois allowing this form of investment. The author of the bill that's been signed into law, transactional attorney Anthony Zeoli of Chicago, says with the better-known examples of Indiegogo and Kickstarter, you're getting a token or a sample of a product. He is talking about investors and small businesses being able to find one another.
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“Possibly they can't get in front of angel investors or VC (venture capital) investors, why not go to the Illinois crowd? Illinois residents can invest in your company, and they can profit from it,” he says. He gives an example of a lunchtime food truck whose owner wants to raise money for a second truck and can put up a sign directing interested investors to a web site.
Zeoli says he is working with a couple of his clients to form www.vestlo.com , to give an example of one portal which will enable interstate crowdfunding.