Become REknown with Hotcards REcovery Loan

Community-sourced loans to support businesses in the Hotcard network with COVID-19 recovery

REbuild. REvive. REinvent. REcreate.

Hotcards and the Become Known™ Family of Companies are partnering with Honeycomb Credit to support small businesses with crowdfunded loans to [RE]-bound from the pandemic.

Hotcards is all about helping you get your message out, and Honeycomb Credit is all about accessing community capital while deepening your community support.

Together, we’re creating an exclusive local marketplace to help you crowdfund the recovery funds you need from your community, alongside fellow beloved businesses in the Hotcards network.

Hotcards Crowdfunded Recovery Loan

Recover with your community

Connect with your fans + thousands of local investors in the Honeycomb network.

Deepen your local support

Crowdfund alongside fellow local business that are loved in your community.

$1,000 investment from Hotcards

Hotcards is investing $1,000 in local businesses that pledge to buy marketing materials.

Expert marketing support

Gain access to marketing advice from Honeycomb's team of small business experts.

Loan Terms

Borrow $10,000-$50,000+ in working capital
45 day payment-free period
3.75% interest rate over an initial 6-month interest-only payment period
5% interest rate over a 3-year fully amortizing loan after the interest-only period
No pre-payment penalties

Financial Qualifications

3+ years of operating history

Profitable in 2019

Good credit score for 20% owners

Debt service coverage ratio of 1.2 or higher

Owners have positive net worth

No delinquencies (personal or business)

Lease agreement in good standing

Registered and legally organized business

Personal guaranty

Blanket lien on the business (lien position negotiable)

Demonstrated community support

Note: Businesses must complete an application, which must pass Honeycomb's due diligence process, to take part in the cohort

Crowdfund in 4 easy steps

1

Fill out the form below

Tell us about your business & which relief loan program interests you.

2

Talk to our team of experts

Jump on a call with our small business experts to discuss putting together an application.

3

Launch and tell your story!

After being accepted to the cohort, get your working capital crowdfunded by your community.

4

Keep your business strong

Make interest-only payments to your community for 6 months, then principal + interest payments.

To learn more, check out some of our live campaigns.

Monica Grays

Owner, 2nd Semester Consignment Shop

Up until working with Honeycomb, I'd never been on the news. Honeycomb opened that door and allowed me the opportunity to share my story.

Chad & Lauren Townsend

Owners, Millie's Homemade Ice Cream

At least once a week, we have someone who comes up to us and says, "Oh hey, I'd like to meet you, I invested through Honeycomb." It's definitely shown to be a community and network.

Will Patterson

Owner, Pittsburgh Pickle Company

The funding really allowed us to pull the trigger. I don’t know if we would’ve ever done co-packing without the loan, and now, co-packing could represent a very significant portion of our revenue stream.

FAQs

What if I don't qualify for the option?

If your small business doesn't meet the qualification criteria as listed above, and you are interested in community funding as a tool to help support your business, then we would be glad to learn more about your business and see if there is an opportunity to work together. Please complete the form below to schedule a call with one of our small business experts.

What if I need more than $25,000?

If your business needs more than $25,000, then please reach out to discuss with one of our small business experts to see if a larger loan crowdfunding campaign is feasible for your business.

How quickly can I get the capital?

That depends on how long the campaign runs, and how quickly your business reaches its funding goal. Generally, we can have funds deposited within 30 days.

Deadline: May 30, 11:59 pm EST