Honeycomb Credit, a FINRA regulated Funding Portal, says it will offer a $10,000 grant for smaller firms. The grant is available to any small business in the US.
Accepting applications now, the company says it has already provided over $40,000 to smaller firms, but this is the first time it has offered this size of a grant.
The goal is to help smaller firms gain access to capital and execute their goals.
Honeycomb co-founder and CEO George Cook said small business is where they live, and they believe the world is better with more smaller firms in it.
“We want to see these businesses excited with possibility. What could they do with $10,000? How might that transform their working life and take their business to the next level?”
Honeycomb mainly issues securities under Reg CF, a securities exemption that allows firms to raise up to $5 million. Most issuers on the platform are smaller local or regional firms needing capital. The platform focuses on providing loans in a bank replacement-type model.
