Michigan crowd funding law lays the way for new Tecumseh microbr - Toledo News Now, News, Weather, Sports, Toledo, OH

Michigan crowd funding law lays the way for new Tecumseh microbrewery

TECUMSEH, MI (Toledo News Now) -

A new law in Michigan sets up the frameworkfor businesses to accept what is called crowd funding. Investors can give smallbusiness owners between $500 and $5,000 and become part owners of the business.

The first business to take advantage of thenew law is a microbrewery soon to open in Tecumseh.

The businesses co-founder says people areexcited.

"They love the idea of beer, they love theidea of small startups using community money to become a community brewery,"said Kyle Dewitt.

Lenawee County's Economic DevelopmentDirector says the law could help many businesses.

"This will help revitalize our communities sothat's one of the key pieces," said Chris Miller.

The brewery is hoping to raise $150,000through crowd funding, and is set to open in October.

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