Our 2024 Honeycomb Impact Report

This year has been a year of incredible growth and achievement for Honeycomb Credit. As a platform dedicated to empowering small businesses, we’ve seen countless inspiring stories unfold.

This 2024 impact report highlights the milestones we’ve achieved, the businesses we’ve helped, and the communities we’ve supported. From record-breaking campaigns to expanding diversity in business ownership, here’s a look at how we made a difference together.

The foundation of Honeycomb Credit’s mission is community. By connecting local investors with small businesses, we’ve built a system that goes beyond financing. We foster relationships, trust, and economic resilience. The results of 2024 demonstrate the power of this approach, showcasing how communities and businesses can thrive together when given the right tools and opportunities.

Small Business Empowered

This year, we’re proud to share that we’ve funded 154 small businesses across various industries. These businesses represent the heart of local economies, creating jobs, fostering innovation, and enriching their communities. From family-owned bakeries to cutting-edge renewable energy startups, each campaign tells a story of resilience and ambition. The businesses we support aren’t just growing—they’re transforming their industries and inspiring their communities.

Behind each number is a personal story. For example, Monday Coffee, a small coffee shop, leveraged their Honeycomb campaign to fund an expansion that enabled them to serve a larger customer base. The additional funding allowed them to purchase new equipment, hire staff, and create a welcoming space for their community. It’s stories like these that remind us why empowering small businesses is so crucial to building vibrant local economies.

Diversity in Ownership

We believe in supporting entrepreneurs from all walks of life. In 2024, our portfolio included:

• 46% Women-Owned Businesses

• 41% Minority-Owned Businesses

• 47% Family-Owned Businesses

• 12% LGBTQIA-Owned Businesses

These numbers reflect our commitment to fostering inclusivity and ensuring that all entrepreneurs have the resources they need to succeed. Diversity is not just a statistic—it’s a core part of our mission. By empowering underrepresented groups, we help level the playing field and enable voices from all backgrounds to thrive in the business world.

Take Evanly Bakes, for instance. This LGBTQIA-owned business ran a successful campaign that expanded their operations and brought their gourmet baked goods to a wider audience. Their story demonstrates the tangible impact of creating opportunities for diverse entrepreneurs. It’s proof that when communities come together, businesses can achieve remarkable things, regardless of the challenges they face.

The 2024 Impact of Record-Breaking Funding

This year, we surpassed expectations with over $8.2 million in funds raised for small businesses. This marks a significant milestone and highlights the growing importance of community-driven financing in today’s economy. Every dollar represents a vote of confidence from investors who believe in the power of small businesses to drive local change and innovation.

Among our achievements, Voodoo Brewing stood out by raising $480,000 from 297 investors, making it our largest campaign of 2024. This incredible success is a testament to the trust and enthusiasm that community-backed financing can generate. With these funds, businesses like Voodoo Brewing are not only scaling their operations but also creating meaningful economic impact in their communities.

Community Investments

Honeycomb Credit thrives on the power of community. In 2024, we facilitated over 7,500 individual investments, bringing people together to support the businesses they love. This model not only provides financial support but also fosters a deeper connection between businesses and their customers. Investors become advocates, creating a cycle of trust and support that benefits everyone involved.

Consider Brothmonger, a local soup company that hit their funding target in under 12 hours. Their campaign set a new record for speed and demonstrated the power of a loyal customer base. By engaging their community, they didn’t just raise money—they reinforced the bond between their brand and their supporters. It’s stories like these that highlight the transformative potential of community-driven financing.

Major Milestones

This year, we celebrated several standout achievements that demonstrate our commitment to innovation and growth. One major highlight was the acquisition of Raise Green assets, which deepened our ability to empower communities to take climate action. This strategic move aligns with our mission to support businesses that prioritize sustainability and environmental impact.

Another milestone was Small Business Saturday, during which businesses collectively raised over $632,500. This single day showcased the strength of community-backed financing, especially during a pivotal time in the shopping season. By aligning with events like Small Business Saturday, we’re able to amplify the visibility and impact of our platform, helping small businesses achieve their goals faster.

Looking Ahead

2024 was our biggest year yet, but we’re not stopping here. With plans to expand our reach and impact in 2025, we’re excited to continue empowering small businesses and building stronger communities. Our roadmap includes new tools for business owners, enhanced investor engagement features, and an even greater focus on sustainability and diversity.

Looking ahead, we’re inspired by the possibilities. As more small businesses turn to Honeycomb Credit for support, we’re reminded of the importance of our mission. Together, we can create a future where every entrepreneur has the opportunity to succeed, and every community can thrive.

Conclusion

The success of 2024 wouldn’t have been possible without the dedication of our small business owners, the enthusiasm of our investors, and the hard work of the Honeycomb Credit team. Each milestone achieved represents the collective effort of a community that believes in the power of small businesses.

As we look to the future, we’re excited about the opportunities ahead. Thank you for being part of this journey. Here’s to another year of growth, community, and empowerment. Let’s continue to make a difference together.

If you want to learn more about what we have to offer, we’re happy to chat with you at Honeycomb Credit! Fill out the form below and we’ll get you started with more information.