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  • Writer's pictureAnnamarie Galante

Second Semester Consignment Shop made a full, early loan repayment!

Updated: Jun 18, 2021

A group of people sit in Second Semester Consignment Shop, surrounded by the educational merchandise

We're glad to announce that Second Semester Consignment Shop has made a full, early loan repayment on their Honeycomb Credit loan.

Monica Grays, owner of Second Semester Consignment Shop, opened her business after 25+ years of teaching in Cleveland where she devoted a lot of energy and her own personal funds to creating a welcoming environment to her students. After realizing that teachers spend at least $450 out of pocket preparing their classrooms each year, she opened the first consignment in the U.S. for teachers to buy and sell school supplies.

After 3 years in business, Monica wanted to open a second location and she worked with Honeycomb to do just that. In November 2019, she raised $10,500 from 15 community investors. With the funds raised, she was able to open 2nd Semester's second location, hire more staff, expand 2nd Semester's e-commerce presence, and continue to enrich thousands of students' educations.

Aside from opening her new location and growing her business, Monica also gained press coverage from her Honeycomb campaign. Before working with Honeycomb, 2nd Semester had never received any local press in Cleveland. Once she launched her Honeycomb campaign, she was able to share her story on Crain's Cleveland, News 5 Cleveland, and Freshwater CLE.

Unlike most business loans, Honeycomb Credit loans have no prepayment penalty, so entrepreneurs like Monica can pay their community investors back early.

To Monica, we appreciate all the hard, impactful work you have done to help improve the lives of students, teachers, and people in your community. You have made a tangible positive difference in so many people's lives. To all teachers, we see you and we value you.

It’s more important than ever to support teachers and students right now during the pandemic. To make a purchase at 2nd Semester, head to 2nd Semester's online store.


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