Three Chicago-area business owners were profiled today during a press conference as the first entrepreneurs to be raising money under the new Illinois intrastate equity crowdfunding law. The businesses are using this capital to create jobs, re-invest in the local community and generate potential revenue for investors. Freeborn's Tony Zeoli, a member of the Corporate Practice Group, drafted the crowdfunding law and said, "As the author of the Illinois intrastate crowdfunding law I cannot express how thrilled I am to see it finally being used. It took longer than expected to get here, but Illinois intrastate crowdfunding is already looking like it will be a game changer for Illinois companies like NativeSons, CrossTown Fitness and CardFrenzy, who are looking to find the funding necessary to grow and get to that next level. While this is truly a monumental step, this is only the first offering and there are several others expected to be released in 2017.”
To learn more about the crowdfunding law and its implications for Illinois businesses, please click below.