May 16 was a big day for crowdfunding. Legalized equity-based crowdfunding is here. It’s the ability for entrepreneurs everywhere to have direct access to the world of investors for raising capital.

Before now only “accredited” investors—those who have a net worth over $1 million—were able to invest in startups through equity crowdfunding. The new equity crowdfunding rules will help give capital to more entrepreneurs.

Here is what others are saying:

“For the first time, anyone can become an investor in a business and be able to share in its profits and growth regardless of income, net worth or level of financial sophistication, and this will open up a new source of potential financing for entrepreneurs, which could be a game changer.” — Ellen Grady

“Companies across the United States, for the first time since 1933, will be able to seek investments from ordinary Americanswithout having to go through the expense and rigor of a full-public stock offering.” — Richard Swart

“It’s pretty cool that for the first time in 80 plus years, normal people will be able to invest as little as $100 in a startup or small business that they love.” — Nick Tommarello

Basically, before now you had to have a certain amount of money—now anybody can get into equity crowdfunding. Most of you are probably familiar with Crowdfunding helping an artist or entrepreneur raise funds to get cash for their projects by asking for donations in exchange for some sort of gift or product.

Now it’s just expanding this concept to giving cash for a piece of a business. Instead of being rewards-based (giving a donation in exchange for a reward) it’s selling equity or debt financing.

I’m working on creating a crowd fund for my friends to provide debt for my properties whereby you would NOT be invested in the properties but would provide a trusted source with debt. This would benefit those who get involved by receiving 10X more than what the bank provides you with a checking or savings account.

Stay tuned.