Promoting Opportunities for Non-Traditional Capital Formation Act

This bill tells the SEC’s small business office to do more to help local businesses learn how to raise money. It requires the office to create easy-to-use guides and hold (or join) workshops and events that explain different funding options. The help is aimed at groups that often face extra hurdles, like women-owned and minority-owned businesses, rural businesses, and small businesses hit by hurricanes or other disasters. It also requires the office to meet with state securities officials every year to work together on ways to support small businesses and their investors, so help is more coordinated and practical in each state .

Key points:

• Who is affected: underrepresented small businesses (including women-owned and minority-owned), rural businesses, small businesses recovering from natural disasters, and small business investors.
• What changes: the SEC’s small business office must provide educational resources, host or join events about raising capital, and meet annually with state securities commissions to coordinate support.
• When: the coordination with states happens at least once a year; education and events are ongoing responsibilities.