Our Crowdfunding Network Is Growing Part 40

We're currently 23% subscribed on our first debt raise.  There was a ton of activity on the first day and things have cooled off since then.  August is apparently a slow month for crowdfunding and some of the other portals don't even post deals in August.  Hopefully we'll fill up the rest for the balance of August.  We were a little worried about interest from our current network given that we're used to selling equity instead.  

Our new white label portal is almost ready to be functional.  We'll need to polish it a bit most likely, but it will be good to have something to circulate and get comments on.  I plan to do a lot of that on BP as well.  

Our operating agreement has now passed through the securities folks and is up to V7.  We should get those revisions updated next week.  We had a commercial loan broker look at things from a bank's perspective and our CPA review things from a tax standpoint.  The next step will be to circulate it to a subset of our investors for comments and then to the broader investor audience.  I am hoping to be able to use it for a raise in about 2-3 weeks along with the new portal.

William Skelley was here from New York this week do speak at my WIN meeting in Austin.  We discussed several angles for us to work together more.  I am writing a guest blog post for Realty Shares after doing an interview with their CEO Nav on Reality Crowd TV.  

I learned about some new no action letters this week that should allow us to convert some 506(c) investors to 506(b) investors if we bracket our campaigns into general solicitations and other general marketing activities.  Our back end is set up to do this grouping so we just need to go make it happen.  We'll probably need several months to perfect marketing assets and processes, but we should be able to do clunky raises soon to aid in getting the process streamlined.