LITTLE ROCK, ARKANSAS (October 5, 2015) –
RaiseTheMoney.com has been approved to offer equity investment tax credits from the Arkansas Economic Development Commission to potential investors.
Headquartered in Little Rock, RaiseTheMoney.com is a national fundraising and payment processing platform founded in late 2013 by Chris Stewart. As the first of its kind, RaiseTheMoney.com immediately signed up an impressive list of political campaigns including Senator Tom Cotton, Congressman French Hill, Governor Asa Hutchinson, five current Presidential candidates, 40 Political Action Committees and more than 500 state, county and local campaigns across the U.S.
The AEDC has the authority to issue up to $6.25 million in tax credits each year through its Equity Investment Tax Credit program. The program was created in 2007 to entice investment in Arkansas-based, early-stage, technology-based companies or companies that are part of a targeted local economic development plan that are paying no less than 150% of the average wage. Under the program rules, investors who are awarded tax credits also have the option to sell the tax credits within one year of issuance.
Applicants for the program are asked to make a presentation to a panel of science, technology and finance staff detailing the aspects of their business, growth forecast and potential economic impact, including the creation of new jobs.
RaiseTheMoney.com was approved for the program based on its use and commercialization of emerging technology and the potential for 12 new, high-wage jobs in Arkansas.
Since its inception less than two years ago, RaiseTheMoney.com has won numerous credible recognitions, including Best Political App. by Campaigns and Elections Magazine. Founder Chris Stewart was also awarded a 40 under 40 Award for Best Political Campaign Professional by the American Association of Political Consultants.
“We are proud to be an Arkansas company and look forward to our continued growth here and nationally. Our overall goal is to stay out in front of the curve with regard to online payment processing, and the tax credit program will provide support in allowing us to grow and expand our services without losing our customer-first focus,” said Stewart.