Mar. 30, 2020
Dear Sir or Ms., As a non-accredited investor, I am very pleased that the SEC has proposed increasing the limits of equity crowdfunding. I very much support these increases and I want to personally encourage the adoption of the proposed release 33-10763 in its entirety. And in particular, small businesses have very small “moats” and need infusions of CASH to stay in business as they are getting hammered by the effects this Coronavirus. So many of them are now in “Crisis mode” with their sources for capital disappearing like the morning mist. They need IMMEDIATE help. I encourage the SEC, therefore, to immediately raise the Regulation Crowdfunding limit to $5M in order to relieve the strain this crisis has placed on these small businesses. I’m convinced the introduction of Regulation Crowdfunding was an excellent move and was intended to foster a win-win situation for small businesses and small investors alike, but the sad truth is that the current $1.07M limit is too low to be very meaningful – particularly in situations such as we now all find ourselves in today. Thanks you for your help in getting the SEC to quickly increase the current limits of Regulation Crowdfunding. This will be a MAJOR help to our small businesses and to our economy. Thanks for listening. Blessings, W Kim Colich