Want to Buy Stock in District Taco? You Might Get Your Chance
NPR spotlights District Taco—the taco-slinging food truck and restaurant that is confusingly not based in the District (read Y&H contributor Pervaiz Shallwani's take on Arlington's popular purveyor of cochinita pibil here)—as just the type of small business that might benefit from new federal legislation, called the Entrepreneur Access to Capital Act. Operator Osiris Hoil boasts some 6,000 Twitter followers, 1,300 Facebook friends and, hopefully, a good number of actual paying customers, too. But under current law, he can't ask any of them to become shareholders in the company. And that just plain sucks, he says: "The customers own District Taco, because they build it. I would like for them to get something back." The bill, which allows business owners to raise up to $2 million from an unlimited number of investors contributing as much as $10,000 a pop, is on its way to the U.S. Senate, after sweeping passage in the House, 407 to 18. If it becomes law, your next taco binge could very well come with an added sales pitch: "You want stock with that?"
Photo by Darrow Montgomery