Folla Capital, LLC announced today that it is now a registered broker-dealer with the SEC and a member of FINRA.
WILMINGTON, NORTH CAROLINA, UNITED STATES, December 10, 2020 /EINPresswire.com/ — WILMINGTON, NC – Folla Capital, LLC announced today that it is now a registered broker-dealer with the Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA). “The process of becoming a broker-dealer was a long and demanding process that began about 18 months ago,” states Clem Seifert, Folla Capital’s CEO. “In addition to completing and filing the documents needed to meet the requirements of FINRA membership, our three partners completed 14 security industry exams. It’s an accomplishment that we are proud of and reflects our commitment to helping small businesses across the country gain access to a new source of community-based capital that is critical to their success.”
Folla Capital engages in private placement securities and other capital raising activities, focusing on exempt security offerings enabled under the JOBS Act of 2012, including Regulation Crowdfunding, Regulation D (Rules 504, 506(b) and 506(c)) and Regulation A (Tier 1 and Tier 2) offerings. Folla Capital’s core team started in North Carolina in 2018, facilitating the State’s intrastate investment crowdfunding program called the NC PACES Act. Based on this experience, they began the process of expanding nationally to help any company, in any state, raise capital using exempt offerings, including investment crowdfunding programs. “Our founders are entrepreneurs ourselves,” says Chris Franklin, CPA, and Folla Capital’s CFO and CCO. “We’ve gone down the path of having to raise money the traditional way. We know what it’s like to have to make payroll and manage cash flow. We want to connect small businesses to everyday investors within their local community and provide an opportunity for all.”
The Jumpstart Our Business Startups (JOBS) Act was passed by Congress and signed by President Obama in April 2012. According to a report by Crowdfund Capital Advisors and the Small Business and Entrepreneurship Council, since 2016, over 2,600 companies have raised more than $500,000,000 under the JOBS Act.
John Panaccione, Folla Capital’s CTO, is an Army veteran and also the co-founder of VETtoCEO. This non-profit organization supports veterans and transitioning military members to succeed in business ownership. “In addition to veteran-owned businesses, minority and women-led businesses often face additional challenges in finding the capital that they need. Folla Capital focuses on working with these underserved groups.”
Private placements are high-risk, illiquid, not suitable for all investors, and can result in a complete loss of principal.
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