We're thrilled to announce our expansion to the Philadelphia region and our new partnership with Artisan Exchange, an artisanal food hub in West Chester, PA! Artisan Exchange provides an affordable environment that supports entrepreneurs committed to producing hand-crafted, sustainable foods while sharing sound business practices that have a positive social impact. By joining forces, we hope to connect more artisanal food businesses to fair expansion capital in their local communities across Pennsylvania and the tri-state area.
To kick things off, we've recently launched a crowdfinancing campaign for Mompops, an allergen-friendly, organic popsicle business that was also the first member of Artisan Exchange.
Check out the full press release below:
Artisan Exchange, an artisanal food hub with over 60 food purveyors, and Honeycomb Credit, a startup with an innovative crowd financing model, today announced they are joining forces. Artisan Exchange already offers its tri-state area food businesses affordable flexible space, retail market channels, access to a commercial kitchen, and sales and distribution support. Now they will offer businesses that need expansion capital an opportunity to crowdsource loans at reasonable rates and terms from their existing customers.
Frank Baldassarre, Principal for Artisan Exchange commented, “This is a perfect partnership for us. I come from a 30-year career in commercial banking and am intimately aware that one of the biggest challenges for any small food business is financing. The way small business lending is done right now is ineffective. George Cook and the folks at Honeycomb Credit are doing something transformative. By supporting individual businesses as they expand they are really connecting the whole community with capital.”
George Cook, CEO of Honeycomb Credit added, “Artisan Exchange is a major force in Pennsylvania for artisanal food purveyors. They have a delivery system to 35 Metro Philly Food Stores and are an approved Mid Atlantic Whole Foods Markets Distributor. Artisan Exchange works with some of the very best businesses in the state, and we are thrilled to be supporting those companies as they grow. In addition, Artisan Exchange shares our values of helping entrepreneurs succeed in local communities, and I anticipate we will do great things together.”
The partnership officially went live with the launch of a campaign for Mompops, an allergen-free, organic popsicle company that was the inaugural member of Artisan Exchange and is now looking for expansion capital to satisfy growing demand.
About Artisan Exchange
The mission at the Artisan Exchange is to provide an affordable environment that supports entrepreneurs committed to producing hand-crafted, sustainable foods while sharing sound business practices that have a positive social impact. Since our start in 2012, we have helped over 160 companies and created over 250 jobs. 75% of those business and entrepreneurs are women owned. Learn more at www.artisanexchange.net.
About Honeycomb Credit
Honeycomb Credit is a Pittsburgh-based crowdfinancing platform that connects small businesses looking for expansion loans with community members looking to invest local. By allowing anyone to invest in their own local economy, Honeycomb Credit aims to unlock growth opportunities for small businesses to build vibrant, financially empowered communities. Honeycomb operates in Pennsylvania, New York, and Ohio. Businesses can borrow up to $100,000 for expansion purposes, and community members can start investing for as little as $100. More at www.honeycombcredit.com.