Downing Bill to Expand Access to Capital for Rural Small Businesses Included in INVEST Act

Today, Congressman Troy Downing (MT-02) released a statement following the passage of H.R. 3383, the Increasing Investor Opportunities Act (INVEST Act), which includes his Expanding Access to Capital for Rural Job Creators Act.

“Rural small businesses are the backbone of Central and Eastern Montana,” said Congressman Downing. “By including my Expanding Access to Capital for Rural Job Creators Act, the INVEST Act directs the SEC’s Office of the Advocate for Small Business Capital Formation to finally give rural Main Street the attention and support it deserves. I’m proud to have championed this legislation, and I look forward to seeing it signed into law.”

Read more about Congressman Downing’s Expanding Access to Capital for Rural Job Creators Act:

• The SEC’s Office of the Advocate for Small Business Capital Formation is required to identify problems that small businesses face when securing access to capital and submit an annual report to Congress.

• Currently, the Office’s list of applicable entities are minority-owned, women-owned, and disaster-stricken small businesses.

• This legislation would require the SEC’s Office of the Advocate for Small Business Capital Formation to add rural small businesses to its list of applicable entities.

Read more about the INVEST Act:

• Expands access to capital for small businesses by cutting red tape, updating outdated investment thresholds, and ensuring that capital reaches beyond Wall Street and Silicon Valley to entrepreneurs across the heartland.

• Increases opportunities for investors by modernizing the accredited investor definition, opening up investment options, and protecting seniors from financial fraud and exploitation.

• Strengthens public markets by streamlining disclosure requirements, providing businesses more flexible avenues to raise capital, and modernizing how companies test the market before initial public offerings (IPOs).

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