OLB’s CrowdPay Facilitates SMB Crowdfunding Under New SEC Rules
NEW YORK--(BUSINESS WIRE)--Nov 19, 2020--
The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions and secure investment vehicles for small- and mid-sized merchants, announced its CrowdPay cloud funding platform for issuers and broker-dealers simplifies capital raise activities for small- and medium-sized businesses in compliance with recently updated Securities and Exchange Commission (SEC) rules.
CrowdPay is a scalable turnkey software platform for equity crowdfunding. The solution includes an intuitive website builder, support for mobile and all computer platforms, integrated investor accreditation, ID verification, payment options, and online escrow capabilities to address the needs of nearly any fundraise activity. With built-in Compliance Platform Technology, CrowdPay includes forms, digital signature support, and integration with multiple third-party applications and services.
The platform enables investors and businesses to participate in fundraising activities in accordance with the SEC’s recent rule change to expand access to capital for small- and medium-sized businesses and entrepreneurs. Under the amended rules, crowdfunding campaign raise limits have increased from $1.07M to $5M and amended investment limits for individual investors to (i) remove the investment limits completely for accredited investors and (ii) use the greater of their annual income or net worth when calculating their investment limits for non-accredited investors. These relaxed limitations will enable broader investment participation by interested parties.
“The SEC’s recent rule changes can help small businesses substantially improve their ability to quickly raise capital,” said Ronny Yakov, chief executive officer of OLB. “The CrowdPay platform is well positioned to help Broker-Dealers create and manage crowdfunding campaigns for businesses from start to finish.”
CrowdPay is SEC, Financial Industry Regulatory Authority (FINRA), and Broker-Dealer compliant for Reg A+, Reg D 506(b) & 506(c), Regulation Crowdfunding, U.S. Intrastate, and International compatible.
To learn more about CrowdPay from OLB, please visit https://crowdpay.us/.
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Safe Harbor Statement
All statements from The OLB Group, Inc. in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements concerning the impact of COVID-19 on our operations and financial condition our ability to implement our proprietary merchant boarding and CRM system and to roll out our Omni Commerce applications to our current merchants and the integration of our secure payment gateway with our crowdfunding platform. While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include statements regarding the expected revenue and income for operations to be generated by The OLB Group, Inc. For other factors that may cause our actual results to differ from those that are expected, see the information under the caption “Risk Factors” in the Company’s most recent Form 10-K and 10-Q filings, and amendments thereto, as well as other public filings with the SEC since such date. The Company operates in a rapidly changing and competitive environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.
About The OLB Group, Inc.
The OLB Group, Inc. is a payment facilitator and commerce service provider that delivers cloud-based merchant services for web-based and brick-and-mortar organizations. OLB provides a seamless, end-to-end digital commerce solution that includes site creation, hosting, transaction processing and payment gateway, order fulfillment, customer service, outbound marketing, sales reporting, and fundraising. With services from private label shopping sites designed to maintain the unique look or feel of the merchant website, to order fulfillment and customer service, OLB remains invisible to the user and promotes the merchant’s brand with market-leading technology and solutions. For more information about solutions, services, or to find a reseller, please visit www.olb.com. Investor information is available at www.olb.com/investors-data.
View source version on businesswire.com:https://www.businesswire.com/news/home/20201119005808/en/
CONTACT: Glenn Goldberg
Parallel Communications, Inc.
The OLB Group - Investor Relations
(212) 278-0900 EXT: 333
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: SOFTWARE FINANCE DATA MANAGEMENT SMALL BUSINESS PROFESSIONAL SERVICES TECHNOLOGY MOBILE/WIRELESS SECURITY
SOURCE: The OLB Group, Inc.
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PUB: 11/19/2020 09:07 AM/DISC: 11/19/2020 09:07 AM