Most Active Stories
- Auto workers petition to block UAW, 2015 red snapper season and Cycling League state championship
- Restraining order against Lear Corp, First Lady at Tuskegee and Tallapoosa County tax vote
- Gambling bill hearing, potential mental health cuts and Alzheimer's research
- Red Snapper Season, Alabama High School Cycling League
- Where Poor Kids Grow Up Makes A Huge Difference
Thu January 23, 2014
Ala. Senate Seeks Crowd Funding For Small Business
The Alabama Senate is trying to give people a new way to raise money to start small businesses.
The Senate voted 31-0 Thursday for a "crowd funding" bill sponsored by Republican Sen. Arthur Orr of Decatur.
The legislation is backed by the Alabama Securities Commission. It would allow someone trying to start a small business in Alabama to use social media and advertising to find small investors who live in the state. It is limited to raising $1 million, and it is restricted to Alabama businesses and investors because of federal regulations.
Orr says it's an option for people trying to start small businesses in a tough credit market. His bill now goes to the House for consideration.
Alabama Securities Commission