Tagged: ohio

August 28, 2014 @ 11:15 am By Samantha Hurst  |  

American Homeowner Preservation, AHP, is rebuilding communities devastated by the foreclosure crisis, and August proved to be a successful month for the company as it sold vacant, abandoned properties spanning across nine states. In the last 30 days, AHP has found new owners for vacant properties… Read More

August 14, 2014 @ 4:38 pm By Samantha Hurst  |  

Last month, Columbus, Ohio resident Zach “Danger” Brown launched a Kickstarter crowdfunding campaign to raise funds to make potato salad. Originally setting out with an initial goal of $10, the project immediately hit the spotlight and raised over $55,000 from 6,911 backers. Now Brown is… Read More

August 13, 2014 @ 5:03 pm By Samantha Hurst  |  

Ready to bring his new creation to the market, Ohio resident Jay Yoo has launched a new crowdfunding campaign on Kickstarter for his new bag, bolstr. The new accessory is considered the ultimate bag for everyday carry (EDC) items. The bolstr is a perfect crossbody… Read More

July 21, 2014 @ 11:26 am By Samantha Hurst  |  

Cleveland-based real estate crowdfunding platform, Vestor,  is seeking to help hotel developers to transform three neglected buildings into a LeMeridien hotel in the downtown area. According to Crain’s Cleveland Business, hotel consultant Lonnie Burghardt was close to ending a five-year quest to turn part of the stretch of… Read More

July 4, 2014 @ 9:55 am By Samantha Hurst  |  

A South Carolina family launched a crowdfunding campaign on GoFundMe called Saving Eliza to raise $1.8 million dollars for a little girl and other children who has been suffering from a rare and deadly disease. The family of Eliza O’Neill describes her as a “fun loving… Read More

June 28, 2014 @ 12:41 pm By Samantha Hurst  |  

  Ohio-based Momentum Labs LLC has launched a crowdfunding campaign on Kickstarter seeking funds for its new product, Moment Smartwatch. By attracting attention with its unique description, the Moment Smartwatch has raised $142,813 from 814 backers within the first three days. According to its campaign website, the Moment Smartwatch was… Read More

March 3, 2014 @ 7:20 am By Samuel S. Guzik, The Crowdfunding Counselor  |  

On February 19, 2014, in a missive to the SEC, signed by 18 state securities administrators,  under the letterhead of the North American Securities Administrators Association (“NASAA”), the message was clear: “[we] write to voice our objection to the Commission’s attempt to preempt state authority… Read More

February 12, 2014 @ 9:05 pm By JD Alois  |  

Somolend, a high profile crowdfunding startup, has settled with the State of Ohio over allegations by the State the company had transgressed state securities laws.  The company was previously led by Candace Klein, who had become one of the leading champions for the fast growing… Read More

January 10, 2014 @ 9:56 am By Charles Luzar  |  

The implementation of an exemption under Rule 506(c) of Regulation D in September of 2013 creates a new set of opportunities for private issuers looking to raise capital. It also creates a new set of challenges, specifically a need for issuers (and, by proxy, the… Read More

October 17, 2013 @ 3:47 pm By Charles Luzar  |  

SoMoLend and the Ohio Division of Securities have been on a crash course since a notice of intent to issue a cease and desist was filed back in August of 2013. The hearing, originally scheduled for this week, has been postponed until January according to… Read More

October 10, 2013 @ 3:46 pm By Charles Luzar  |  

Ohio Division of Securities Commissioner Andrea Seidt is now acting President of the North American Securities Administrators Association (NASAA), the “oldest international organization devoted to investor protection.” She was previously Vice President of the NASAA. She replaces A. Heath Abshure of Arkansas as President of… Read More

September 19, 2013 @ 10:18 am By Charles Luzar  |  

Yesterday the SEC held a meeting of top advisors and staff to discuss the latest rulemakings and initiatives from within the Commission. The Angel Capital Association was invited to speak on a new rule to go into effect on September 23rd that lifts the ban… Read More

August 29, 2013 @ 10:09 am By Charles Luzar  |  

Whether or not the State of Ohio has any affinity for crowdfunding as a means of capital formation, it is clear that many entrepreneurs are ready for restrictive, Great-Depression-era regulations to be loosened. A recent article in the Cincinnati Business Courier documented a recent visit… Read More

August 18, 2013 @ 7:28 pm By Charles Luzar  |  

Cincinnati, Ohio ABC affiliate WCPO recently did a report on Candace Klein and SoMoLend. Included in the report was an interview with Ian Edwards, who identified himself as an investor in SoMoLend and a former VP at Proctor & Gamble. He says that Klein may… Read More

August 16, 2013 @ 11:03 am By Charles Luzar  |  

Candace Klein has stepped down as CEO of SoMoLend. Klein was recently the subject of a notice from the Ohio Division of Securities in relation to fundraising efforts and business dealings on behalf of lending-based crowdfunding platform SoMoLend. Klein says that her decision was made because… Read More

August 15, 2013 @ 12:44 pm By Charles Luzar  |  

In light of recent actions taken against Candace Klein and SoMoLend on behalf of the Ohio Division of Securities, Knox Massey has a simple message to Ohio startups: come to Gerogia! Massey is a managing partner of a private family investment partnership, co-chair of the… Read More

August 14, 2013 @ 9:33 am By Charles Luzar  |  

Allegations by the Ohio Division of Securities reverberate through the entrepreneurial class & the crowdfunding industry Candace Klein has been an extremely visible figure in the world of crowdfunding. Beyond her role as CEO of lending-based platform SoMoLend, she is also the former chair and… Read More

August 13, 2013 @ 7:40 am By Charles Luzar  |  

UPDATE: The city of Cincinnati is suspending its relationship with SoMoLend pending resolution to the case described below. SoMoLend previously had a partnership with the City in order to facilitate loans for local businesses. Cincinnati.com is reporting that Ohio’s Division of Securities is investigating SoMoLend for… Read More

July 17, 2013 @ 10:50 am By Charles Luzar  |  

Crowdentials CEO Richard Rodman shared the following infographic with Crowdfund Insider today outlining how his company plans to provide accredited investor certification service to the crowdfunding industry. The burden for certifying accredited status has increased with the introduction of 506(c) offerings. Click the infographic for… Read More

June 23, 2013 @ 2:17 pm By Charles Luzar  |  

To commemorate National Small Business Week, The National Association for the Self-Employed, the nation’s leading resource for the self-employed and micro-businesses, and the Small Business & Entrepreneurship Council (SBE Council), an advocacy and research organization for entrepreneurs, have partnered with Fundable, a crowdfunding platform partner focused exclusively on startup… Read More