by Think Currituck, on 12/14/17 8:14 AM
Localstake NC is the first investment crowdfunding platform exclusively serving North Carolina
The rules of small business financing in North Carolina have changed... literally.
In 2016, the North Carolina General Assembly passed the NC PACES Act investment crowdfunding bill and it became a law in July of the same year. The Secretary of State Securities Division published the rules on April 1, 2017.
But since then, not much has happened.
North Carolina startups haven't launched crowdfunding campaigns. Entrepreneurs haven't jumpstarted new projects. There's been no sign of life for 9 months.
Mark Easley believes that the arrival of Localstake NC will change that.
Easley is a tech startup advisor and angel investor in the Research Triangle Park area. He is also the publisher and editor of CrowdfundNC.com and has been a driving force in the investment crowdfunding industry since 2012.
Easley and CrowdfundNC.com worked to bring LocalstakeNC to the state. The parent firm Localstake Marketplace is based in Indianapolis and already offers their service to investors and entrepreneurs in Indiana, Michigan and Colorado.
What does Localstake NC do?
It's an online platform that connects interested investors with companies seeking funding. In the past, these kind of opportunities were restricted to wealthy angel investors, venture capitalists, and private equity firms. But today, thanks to the NC PACES Act, anyone can get involved and invest in NC small businesses and startups.
Companies can crowdfund on their own. As long as they follow the rules and regulations, funds can be solicited from any website or digital platform. Localstake NC is just another way to connect investors and entrepreneurs.
Localstake NC offers a full-service online experience for investors. Those interested in investing can open an account on Localstake NC (the company is a registered broker/dealer in North Carolina). According to their website, they "are able to facilitate the investment process from initial review to execution to post-investment updates and payments."
Localstake NC also offers a variety of services for entrepreneurs, startups and small businesses who are looking for funding. You can find a full menu of options online that explains how they can help companies through the process. They help with everything from cost analysis and business plans to polishing a pitch and launching a successful fundraising campaign.
There are monthly costs and fees associated, but Localstake NC offers a free trial.
Mark Easley is doing what he can to spread the word and spark excitement among small business owners and those who want to start a new business.
On his blog, Easley wrote: "Startups and small businesses ranging from technology startups to retail shops and restaurants can use the platform to raise money to get a company started or to help it grow."
"And for the first time, all North Carolina residents can invest in startups and small businesses that use the NC PACES Act or Regulation Crowdfunding to raise money."
Read More about NC Crowdfunding
• 5 Things Every North Carolina Business Needs to Know About Crowdfunding
• NC Secretary of State: Crowdfunding Rules and Resources
