Oregon businesses looking to raise money through crowdfunding (using the Oregon Intrastate Offering Exemption) are required to meet in person with a business technical service provider before filing notice with the division. Business technical service providers include: Small Business Development Centers under OAR 123-022-0070, Economic Development Districts under 13 CFR 304.1, and not-for profit accelerators and incubators approved by the director of the Department of Consumer and Business Services (DCBS).
The department will determine whether to approve an organization as a business technical service provider under the crowdfunding rules. Examples of information DCBS will consider include the following:
- Not-for-profit corporate status
- 501(c)(3) status; OR
- Status as a mutual benefit corporations, public benefit corporations and religious corporations under ORS 65.001(37); OR
- Other proof of not-for-profit status
- Incubator or accelerator
- Stated purpose of the organization
- Mission statement
- Client base, target populations, and geographic focus, if any
- How client metrics are tracked
- Services provided
- Corporate officer(s) experience
- Name and contact information for Officer(s)
- Whether they would be disqualified under OAR 441-035-0210
- Central Registration Depository (CRD) information, if any
- Credentials of staff with direct contact with businesses
- Relation to services provided
- Relation to population served
- How is the operating budget funded
- Grants
- Government contracts
- Fee for services (include fee schedule)
- Website, if any, to be used as platform for OIOs
- Description of how website will comply with the requirements of 441-035-0160