The Senate has approved (73-26) the JOBS Act with amendments from Senator Jeff Merkley‘s CROWDFUND Act. Under the Senate bill, entrepreneurs will be able to raise up to $1 million per year through online crowdfunding platforms like SoMoLend. The bill includes added protection for non-accredited investors. The amount investors will be able to lend will depend on their income with some individuals capped at $2,000.
Senate Passes Crowdfunding Bill!