On July 10, the SEC announced that the ban on general solicitation has been removed for small businesses seeking startup capital, allowing for sweeping changes in the way businesses find funding.
This announcement is a productive step forward to fully enact the Jumpstart Our Business Startups Act (JOBS Act) passed in early April of 2012. With general solicitation now permitted, startups have the opportunity raise money from a wider range of investors – potentially accelerating their funding.
What does this ruling mean? Fundable explains via this infographic.