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Posted February 20, 2019

After almost two years since the NC PACES Act was enacted, three companies have completed crowdfunding fillings with the state, demonstrating that businesses are still slowly delving into this new form of funding.

The NC PACES Act, which went into effect in April 2017, created a crowdfunding exemption in the state allowing companies to raise funds from a group of individuals.

The law limits how much companies can raise to $1 million for a 12-month period or $2 million if they provide reviewed financial statements to the state.

Hush Buddy, DIYtiny Inc. and 180 Float Spa have completed crowdfunding fillings in the state, according to the N.C. Secretary of State’s office.

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