By: Moira Blazi
Last Thursday, the Montana office of the Commissioner of Securities and Insurance (CSI) held a meeting at the Venture Inn about investing in Montana.
The meeting room was packed with Libby and Troy business owners. An opening presentation by [Lynne] Egan outlined ways the commissioner’s office helps keep investors’ money safe by using anti-fraud and full disclosure laws. She also discussed “crowdfunding,” the money-making strategy offering the public various ways to donate and invest in Montana businesses. Egan said that up to one million dollars could be raised in 12 months this way using the Equity Crowdfunding Program. Egan shared examples of successful businesses helped by crowdfunding including a distillery, small manufacturers, a radio station, and an entomophagy (the practice of eating insects) business. She even passed around a sample chocolate chip cookie made with cricket protein which attendees seemed to find delicious.
Tips she offered included “never go it alone,” always seek legal help, and avoid large numbers of very small investors. She reminded the group that some have tried to steal investors’ money through Ponzi and pyramid schemes, churning stocks and other methods.
Read more at The Montanian