• George Cook

Ken Martin on iheartpgh!


"We spoke with Ken Martin, Co-Founder of Honeycomb Credit, to learn about the struggles small businesses face and to find out how everyone can up their game and go from a buyer of local to an investor in local through his innovative company."

Check out the full interview HERE!

Here's a small sample from the full interview...

"Mr. Martin:

Honeycomb is a website where local business can get expansion loans of up to 50,000 dollars, funded entirely by their community or customer base. So, we are perfect for locally owned businesses that are too big for Kickstarter, but not yet ready for a traditional bank loan.

I’m Ken Martin, I’m the co-founder of Honeycomb Credit.

Ben:

Wow, thanks for being here today, I really appreciate your time. Can you explain the difference between the way small businesses can get a traditional loan versus what they’re doing with Honeycomb, what they can do with Honeycomb?

Mr. Martin:

[You know], the way we like to explain this is to think about what the traditional loan process is like. You know first off it’s hard to qualify sometimes. There are creditworthy small businesses that maybe just haven’t been open long enough, they don’t have the operating history required. That alone can be a big barrier [for] great creditworthy businesses. But, then secondly, something we hear from small businesses all the time, is that the process is painful; it’s administratively intense. There [are] documents, there’s maintenance, it’s very difficult and not cheap to go through. So, a lot of business owners are focused on building their business [and] don’t really have the time to, kind of, jump into that relationship. The main difference is we are trying to think, okay, as a former small business owner [myself], how do we make an experience that helps businesses get the access and capital they want, but strips away a lot of business that is just painful and difficult to deal with.

Ben:

Sure, no one likes paperwork. I am not a fan of paperwork. So, it’s all digital?"

Be sure check out the full interview HERE!


Join our newsletter

Be the first to find out about new Honeycomb campaigns and cool local businesses that you can support.

Hello.

  • Honeycomb Credit Facebook
  • Honeycomb Credit Instagram
  • Honeycomb Credit Twitter
  • Honeycomb Credit LinkedIn

Company

Resources

Securities offered on Honeycomb have not been recommended or approved by any federal or state securities commission or regulatory authority. Honeycomb does not provide any investment advice or recommendation, and does not provide any legal or tax advice with respect to any securities. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. Securities sold under Title III are speculative, illiquid, and investors can lose all of their money.