Subject: File No. JOBS Act Title I
From: John Tally

May 28, 2012

Please make sure that the crowdfunding portion of the JOBS law includes making crowdfunding investments that are "off line" meaning direct investments in businesses that exist in one's local comuunity, through entities or intermediaries like community banks, community development companies, and business development companies. Many of the small businesses that need the most help exist in communities in which many of the stakeholders are not connected to the Internet, but would like to benefit from this law. By allowing these individuals to fund small businesses in these communities, these small businesses can expand their goods and services, and provide much needed employment in these high unemployment communities. These include inner city, and rural communities.