There is a lot of buzz about “crowdfunding”, but what is it exactly? Anthony D. Edwards of the San Juan Law Office in Silverton describes crowdfunding as “the process of financing a project or venture by raising various amounts of money from a group of people, most commonly via the Internet.” Long story short: This is a unique and revolutionary method of raising capital that all business owners should fully understand. Edwards, a local expert on the subject, will be hosting a three-part series on the topic of crowdfunding, courtesy of Region 10’s Small Business Resource Center (SBRC).
The courses are scheduled to cover three core elements of crowdfunding. Part one, slated for July 21st in Delta and July 22nd in Montrose from 12 to 1 pm, explores the Colorado Crowdfund Act. Colorado legislators approved a bill that allows Colorado residents to invest up to $5,000 in a company without the need for accreditation. In addition, Colorado businesses can raise up to $2 million annually courtesy of this legislation. Edwards will go into greater detail about the complexities of the law, and help potential fundraisers navigate the legal red tape surrounding the practice.
Part two (8/19 in Delta and 8/20 in Montrose from 12 to 1 pm) will address best practices for crowdfunding. Edwards will address the varying forms of crowdfunding: donation, reward, debt, and equity. He will also provide case studies on crowdfunding, so participants can grasp how other businesses successfully leveraged this new financing tool. Attendees are encouraged to come with ideas regarding their own campaigns so Edwards can help troubleshoot their plans.
Part three (9/9 in Delta and 9/10 in Montrose from 12 to 1 pm) will address the basics of debt, equity, and how they relate to crowdfunding. Several state and federal regulations are in place to avoid financial malfeasance, and Edward’s legal background will provide useful insight.
Taking place at the Delta Area Chamber of Commerce (301 Main St. in Delta) and the brand new Proximity Center (210 E. Main St. in Montrose), the courses cost $25 per session; Delta and Montrose Chamber of Commerce members may attend at a discounted rate for $15 per class. Registration is available online at www.region10.net/calendar or by phone at (970) 249-2436 x 205.