National Crowdfunding Association Launches First Affinity Group Crowdfunding Initiative
WASHINGTON, May 1, 2012 /PRNewswire/ -- Today the National Crowdfunding Association, (NLCFA) www.NLCFA.org, announced the launch of the world's first Affinity Group Crowdfunding initiative, a nationwide campaign to bring the tools of crowdfunding to every affinity group in America. "Across America there are tens of thousands of affinity groups that come together around common cultures, interests and issues," said David Marlett, Executive Director of the NLCFA. "These range from vegetarian associations to hunt clubs, from Eskimo pole carvers to Jamaican hemp growers, from prenatal nursing groups to associations of undertakers, from grape canners to peanut growers, from Lutheran men's groups to Buddhist women's associations. This nation truly has it all, and every single group can use crowdfunding to preserve and promote their member companies." The NLCFA wants to spotlight the diverse cultures of America and ensure that all segments of our national business and social communities have the opportunity to utilize crowdfunding for the benefit of their members.
Leading this initiative will be one of the founding members of the NLCFA, the Christian Angel Capital Network (CACN), a Christian-based online platform that matches Christian angel investors with Christian entrepreneurs for the purpose of equity funding. The CACN is in the process of creating its own crowdfunding portal for the Christian business community, certainly one of America's largest affinity groups.
CACN Founder, Bill Murray, based in Las Vegas, NV, said, "It's only natural that the National Crowdfunding Association create an initiative to reach out to all of the various segments of our society and invite them to participate in crowdfunding. It is no secret that America's major strength is our 'melting pot', the blending of diverse cultures to make a stronger nation. American crowdfunding will work very well as it reflects that 'melting pot' of diversity. We are entering a new and exciting era for entrepreneurs," added Mr. Murray, "with unlimited opportunities soon to be available. I believe we can rightly call this new era the 'Golden Age of Entrepreneurship', with crowdfunding as its prime catalyst."
Crowdfunding, part of the JOBS Act signed into law by President Obama on April 5, 2012, allows small and start-up businesses to raise up to $1 million per year by issuing equity to many small investors through an online site (portal). "Affinity groups are ideal candidates to take advantage of this financing method as they, by definition, have a built-in, like-minded 'crowd'," said Marlett. It is widely anticipated that the equity crowdfunding portals will be able to start operations in January 2013, after the Securities and Exchange Commission (SEC) issues rules and regulations for crowdfunding. The NLCFA, actively engaged in assisting the SEC draft those rules, is confident Affinity Group Crowdfunding will significantly further the SEC's primary concern, that of protecting small investors from fraud.
The Affinity Group Crowdfunding initiative comes on the heels of the NLCFA's launch of its CrowdFund Local initiative last week. In the CrowdFund Local initiative, the focus is public groups, i.e. cities, counties and other municipalities, and how they can help their citizens through crowdfunding. This initiative, the Affinity Group Crowdfunding initiative, focuses on the private sector, on the pre-established 'crowds' found in social, cultural and business groups.
The NLCFA is the largest and fastest growing crowdfunding group in the United States, the only national association focused on American crowdfunding, and is comprised of a wide array of companies, firms and individuals from across the country and internationally. Those members include businesses, crowdfunding portals, investors, attorneys, accountants, vendors, service providers, software developers, online matching platforms, consultants, venture capitalists, angel investors, universities, students, and others.bill@Christianangelinvestors.com
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