Small Change recently completed its first-ever offering open to all investors, helping architecture and development firm, OJT (Office of Jonathan Tate), crowdfund $95,000 for the downpayment on the construction loan of the New Orleans-based project.
Equity crowdfunding came about in 2012, thanks to the Jumpstart Our Business Startups Act (the JOBS Act). Until recently though, equity crowdfunding was only available to certain people who met certain financial thresholds - something called "accredited investors." But now, the most anticipated and potentially transformative part of the JOBS Act, something known as Title III, has come into effect. It does away with the requirement that investors be millionaires. And Small Change is one of the platforms that lets everyone, regardless of accredited or unaccredited status, participate and invest.
Small Change has just announced its first offering based in Los Angeles. The Rosewood Project is an urban development of four single-family units in walkable Larchmont. Designed to achieve net-zero energy usage and further revitalize the area, the project was launched by The 4Corners Group.
Building communities from the bottom-up requires boosting their resilience and implementing coordinated strategies. This article looks at the solutions proposed by a Pittsburgh-focused panel, including Small Change, as part of the Greenbuild 2016 event.
What's happening in Pittsburgh's tech scene? Small Change.
Tune in to the latest episode of the Pittsburgh Technology Council's radio show, "TechVibe Radio," and listen to hosts Audrey Russo and Jonathan Kersting interview Small Change CEO & founder, Eve Picker.
“When crowdfunding first emerged, I saw in a flash that it was going to be wonderful. It was going to remove the middlemen, the lack of transparency, the cost, and the time. Crowdfunding was going to transform this multimillion dollar industry,” explained attorney Mark Roderick. “I remember the day it happened and I said, ‘I want to be a part of this.’”
"Oftentimes, blighted and underserved communities in desperate need of renovations and upgrades remain in a state of disrepair due to lack of financing, as many cities in America’s rustbelt stand as a testament. But thanks to emerging platforms like BlocPower and SmallChange, for example, new channels for real estate investors of every size and shape—and the impact will be tremendous." We think so, too.
"There's an enormous need for alternative financing for projects in underserved communities in urban areas that need change and transformation." - Eve Picker, Small Change
Click through to read the full article.
Carnegie Mellon Today magazine profiles Small Change CEO & founder, Eve Picker, and her work with non-profit cityLAB in developing Pittsburgh's first tiny house. The article appears as a lead-in to Eve's keynote presentation at the "Forge: New Urban Frontiers" conference, hosted by the American Institute of Architecture Students CMU chapter.
This website, smallchange.com, which we refer to as the “Site,” is used by two different companies: NSSC Crowd, LLC, which we refer to as “NSSC Crowd,” and NSSC Funding Portal, LLC, which we refer to as “NSSC Funding Portal.” NSSC Crowd offers investments in real estate projects under Rule 506(c) of the Securities and Exchange Commission (SEC). These investments are offered to accredited investors only. NSSC Funding Portal, which is a licensed Funding Portal, offers investments in real estate projects under Regulation Crowdfunding, which is also known as Title III Crowdfunding. These investments are offered to everyone.
Although our Site offers investors the opportunity to invest in real estate projects and companies, we do not make recommendations regarding the appropriateness of a particular opportunity for any particular investor. We are not investment advisers. Investors must make their own investment decisions, either alone or with their personal advisors. Real estate can be risky and unpredictable. For example, many experienced, informed people lost money when the real estate market declined in 2007-8. Time has shown that the real estate market goes down without warning, sometimes resulting in significant losses. Some of the risks of investing in real estate include changing laws, including environmental laws; floods, fires, and other Acts of God, some of which can be uninsurable; changes in national or local economic conditions; changes in government policies, including changes in interest rates established by the Federal Reserve; and international crises. You should invest in real estate in general, and in the opportunities listed at the Site in particular, only if you can afford to lose your investment and are willing to live with the ups and downs of the real estate industry.
We provide financial projections for some of the investment opportunities listed on the Site. All such financial projections are only estimates based on current conditions and current assumptions. The actual result of any investment is likely to be different than the original projection, often by a large amount.
Neither we nor anyone else guaranties the results reflected in financial projections. Neither the Securities and Exchange Commission nor any state agency has reviewed the investment opportunities listed on the Site.