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Trouble getting a loan? Congress considers crowdfunding as a solution for business owners

One of the top complaints raised by business owners in the recent Yahoo! Small Business survey was about a lack of access to capital. It’s tough to grow your business when the economic climate and banking rules are standing in the way of getting loans.

Loosening rules on “crowdfunding” is one option the government is currently considering to address this problem.
But, considering the overwhelming bipartisan support in the House, chances seem good that crowdfunding will make it through the Senate. “These initiatives will inject capital throughout the entire geography of the country in a way we have not seen before. This really is about Main Street,” said Senator Michael Bennet (D-CO), coauthor with Senator Jeff Merkly (D-OR) of a crowdfunding bill. “We have to do what we can to protect the investors that will come, but I think the potential here is just enormous.”

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