Hello Cleveland: Honeycomb Credit, a Loan Platform, Reports 7 Cleveland based Offerings

Pittsburg-based FINRA regulated funding portal Honeycomb Credit is currently running seven Cleveland based securities offerings.

Honeycomb Credit is a Reg CF platform that seeks to provide a bank-replacement type service with loans to SMEs. Honeycomb reports that 3 of the investment offerings are regular loan offerings, two are working capital loans and the others being a new product that offers debt-free capital as a “Loyalty Bond.”

Below is the list of campaigns running for these North Coast firms:

  • StarkFresh, a small but mighty 501(c)3 nonprofit located in Canton, Ohio and servicing Stark County, Ohio. Their mission is to tackle the causes of hunger by creating realistic pathways out of poverty.
  • UnBAR Cafe, located on the east side of Cleveland, which embodies the concept that fun and socializing does not have to equate to alcohol consumption.
  • Modtempo, a customer-experience focused furniture shop based in Cleveland, OH. They seek to address the problem with the current online furniture market: that most companies are focused on volume rather than providing a customer experience that encourages the customer to repeatedly purchase online.
  • Skidmark Garage is a community access motorcycle garage that provides all the tools and lifts for members to work on their own motorcycles.
  • Leavened is a from-scratch artisan bakery and cafe that will open in Cleveland, Ohio in the summer of 2020.
  • Sits n Wiggles Pet Care & Training is a low-stress, modern-methods pet care and dog training company.
  • Simply Elegant Catering – Simply Elegant Catering has been recognized as one of Cleveland’s most established catering companies for Twenty consecutive years.

Honeycomb Credit is the creation of CEO George Cook – a former banker. The online capital formation platform is envisioned as a method for communities to support main street businesses by financing loans a typical bank may ignore. Interest rates on current offerings range from around 7% to 10%.

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