We've heard of the crowdfunding trend sweeping the country, but businesses still aren't allowed to be crowdfunded under government law intended to protect amateur investors from predatory businesses. A crowdfunding bill was approved by Congress in April 2012 to rectify this, but is still awaiting SEC adoption. As a result, and as part of a growing trend, the state of Michigan has taken it upon themselves to legislate crowdfunding and exempt it from complex state securities laws, through the Michigan Invests Locally Exemption (MILE) Act signed into law on December 30th, 2013. This is a growing trend that is known as the crowdfunding exemption movement, with <a data-cke-saved-href="12 states enacting laws and 14 in the process of doing so. Through the law, banks can help facilitate Michigan-based businesses seeking to raise $1 to $2 million in equity or debt, where the owners of the equity or debt are Michigan-based customers of the brewery. The money is raised with an escrow account at the financial institution. The MILE Act allows a business without audited financial statements to raise $1 million in equity or debt through a private securities offering on a website, and up to $2 million with audited financial statements. Accredited investors can invest an unlimited amount, and non-accredited investors can invest $10,000 in any one campaign. The business must be organized in Michigan, and only Michigan investors can invest. Businesses must use an escrow account at a bona fide financial institution. While Michigan is now one of 12 states to have a crowdfunding law, it is one of the most progressive, with its own crowdfunding website, and already with a major success story, the Tecumseh Brewing Company, which raised $175,000 in half its designated time. States also have advantages to waiting for the national crowdfunding legislation to pass. What this means is that not only can local residents campaign for local businesses in their downtowns instead of national chains, but they can crowdfund them too. This is what a crowdsourced placemaking program enables.