Subject: File No. S7-07-12
From: Scott Purcell, Purcell
Affiliation: Arctic Island

October 5, 2012

We are building a company that will help small businesses get funded pursuant to 506(c)-D (and, later, via Title III as well). As such we are keenly interested in the rules and regulations being considered, as our business survival depends upon them as does the survival of millions of small businesses who today have no access to capital.

Regarding the proposed rules, RIN3235-AL34, our comments are succinct:

1. We understand the Staff reasoning and find the proposed rules acceptable. We can operate efficiently within the boundaries setforth.

2. We pray that special interests do not cause the Staff to modify the proposed rules in any way that would be detrimental to the stated goal of enabling small businesses to seek funding in a cost effective manner.

3. We look forward to a rapid effective date so the goals and intentions of the JOBS Act can be fulfilled and we, along with many others, can help small businesses get capitalized and grow.

Respectfully Submitted,

Scott Purcell
Arctic Island
Small Business Funding