b'How to Legally Raise Private Moneymay not be accredited, then you must select an exemption such as Rule 506(b) or an intrastate exemption that allows non-accredited investors and prohibits general solicitation or advertising. Unfortunately,theexemptionsthatallownon-accredited investors dont allow advertising. In order to be able to advertise to non-accredited investors, you must register your offering, which means getting pre-approval from regulators. For this reason, most first-time syndicators start with options 1 or 2 above and graduate later into advertising or crowdfunding their offer-ing, once they have exhausted the resources of their own circle of family, friends and previous acquaintances. Some may eventually choose to reg-ister their offering and go public. A securities broker already has pre-existing relationships with its own group of investors, so they may be able to raise funds without advertising your offering, allowing you to use the Rule 506(b) exemption, but most broker-dealers wont take on the risk of small offerings unless they know you well.Their fees may also be cost-prohibitive for small issuers.Offerings that allow advertising generally consist of two types; Offerings only to accredited investors under the Regulation D, Rule 506(c) exemption from registration in which you may accept inves-tors who you are reasonably assured are accredited investors; or Registeredofferingsthathavebeenpre-approvedbyregulators, such as Regulation A+ or traditional public offerings. Why not just choose an exemption that allows advertising from the be-ginning? Two reasons: 1.You may preclude your family and friends (your most likely first in-vestors) from investing with you because they may not be accred-ited and the exemptions that allow advertising preclude all but ac-credited investors. 2.Because strangers wont invest with you until you have a proven track record. 94'