Second Street Capital to offer crowdfunding
September 23 2013 - 4:41PM
OTC Markets
Second Street
Capital to begin offering Crowdfunding to Accredited
Investors
9/23/2013
Fort
Lauderdale, Florida ? Second Street Capital, Inc.
(CTON)
With the
signing of the Jobs Act, there?s a lot
of buzz going on about crowdfunding for real estate. Now that the
rule changes for general solicitation of Regulation D offerings has
become effective, it stands to revolutionize the way real estate
deals can get funded - one deal at a time.
Kyle Meyer, CEO of Second Street Capital, a specialty real estate
finance company that helps builders and developers secure financing
for development of new housing projects, stated, ?Next month our
company plans to launch Open Source Capital, a free
marketplace for homebuilders and accredited investors to meet
online and discuss new real estate projects.?
?Second Street Capital will now be able to help its
builder/developer clients raise equity capital, using crowdfunding
as a new method of raising money to help fund real estate
projects.?
Projects will be vetted by Second Street Capital, employing
institutional quality due diligence and research techniques to help
maximize a project?s future value. ?Every project we endorse will
be structured to make sure the developer is applying best practices
for successful investing.?
Dissimilar to other Crowdfunding Intermediaries that use their
platforms as a catch-all for every business idea, SSCI?s web site
will feature a limited number of real estate projects that have
been pre-selected by SSCI and have gone through SSCI?s due
diligence process and qualify for SSCI?s debt
financing.
Once SSCI has approved a project, the sponsor can post their
project on the SSCI?s Open Source Capital
website. Sponsors must
comply with all necessary licensing, policies and regulations
pertaining to all local, state and federal laws.
About Second Street Capital, Inc.
Second Street Capital, Inc., a publicly traded company (CTON) is a
specialty finance company, providing revenue participation loans to
small and medium size homebuilders. Headquartered in Fort
Lauderdale, Florida, the company helps facilitate the flow of
capital to community based homebuilders and developers to support
job growth, share prosperity and increase the local tax
base.
Information included in this press release may contain forward
looking information that is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially
from expected results. Among these risks, trends and uncertainties
are risks associated with SSCI?s business plan, national and local
economic conditions, including conditions in the real estate and
construction industry, conditions and trends in small business
lending in general, changes in interest rates and other factors.
This information is not an offer to sell or a solicitation of an
offer to buy any securities of Second Street Capital, Inc. Any such
offer will be made only to qualified investors by way of written
offering documents meeting the requirements of the Securities Act
of 1933, as amended.
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