Mar. 29, 2020
Dear Sirs/Madam: We are in very trying times and as a consequence regulations need to be revised in order to deal expeditiously with the circumstances. What I am referring to is the capital limitation on Regulation Crowdfunding of $1.07 million. As an investor, we are very supportive of the proposed release 33-10763 in its entirety. As you know, this downturn in the economy due to COVID-19 is hitting small businesses the hardest. For these businesses to get back in business they need access to capital, The current regulation of a limit of $1.07 million is just too low to be meaningful. The entrepreneurs would like and need the limit to be raised to $5 million to help the businesses that are hurting right now. I am a retired CPA and a retired financial executive of a very prominent investing banking firm in New York City. As a result of my experience it is my judgement the suggested increase to $5 million would be a great shot in the arm for many small businesses. Jerry Roland