Regulation A allows unaccredited investors to purchase small offerings of securities that do not exceed $5 million in a 12-month period.
These securities require an offering statement to be qualified with the SEC, which results in time-consuming and costly review by the SEC.
A Regulation A offering needs to be registered in each individual state where potential investors reside, limiting access to most Reg A offerings.
Additional Resource: Now, Real Estate Where Anyone Can Invest