Many small business lenders have strict guidelines about the types of projects that they can and can’t lend to. With all the different requirements out there, it can be tough to figure out where to go to fund your growth plans.
Here at Honeycomb, we love growth projects that help our local business friends scale. With dozens of successful projects to date, we want to highlight 7 creative ways that businesses have worked with Honeycomb to reach their dreams. You won’t bee-lieve number 7!
1. Equipment: Working smarter, not harder
Nothing beats the feel of small batch, handcrafted goods—but as you scale your business, doubling your production shouldn’t mean you have to double your work hours, too. By investing in helpful pieces of equipment, you can preserve the quality of your goods while vastly improving your production efficiency.
Take the three brothers of Pittsburgh Pickle Company for example. As the customer demand for their pickles spiked, they found themselves spending hours manually slicing hundreds of cucumbers a day.
Thanks to their community supporters, the Pickle brothers raise $50,000 to scale their business. They were able to purchase an $8,000 commercial slicer to process vegetables and a $5,000 piston filler to bottle their award-winning Briney Mary bloody mary mix—at a rate of 100 bottles per 15 minutes. The pickles are still hand-sliced—but with a little help!
This has not only improved operations for the Pittsburgh Pickle Company, but also the new equipment opened up opportunities for the brothers to co-pack products for fellow local businesses as well! A new co-packing revenue stream—now that’s kind of a big dill!
2. Food Truck: Bring your business to the people
While brick-and-mortars are the way to go towards becoming a community fixture, your business can gain a lot of value and brand awareness from being in the heart of the action.
After opening two successful brick-and-mortar locations in Shadyside and Downtown Pittsburgh, Millie’s Homemade Ice Cream wanted to find a way to reach more Pittsburghers in the neighborhoods where they worked, lived, and played.
They worked with Honeycomb to convert a vintage 1974 Morrison Bedford truck into the baby of the family, Millie’s Ice Cream Truck. You can now find this bright pink ice cream truck scooping at catered events and festivals all around town!
3. Refinancing: Free up cash flow for the things that matter
Managing the ups and downs of the small business world is not easy. Early in the businesses’ history Vico Restaurant took on some high-interest short term debt. When Mark was ready to take control of his business’ growth he turned to his loyal fans to help him refinance!
Vico Restaurant ran a Honeycomb Credit campaign to free up cash flow and fund interior improvements to his restaurant - taking this farm to table Tuscan experience to a whole new level.
4. Building a Space: Shape the neighborhood you love
Keith and Lisa Welch at Tall Pines Distillery in Salisbury, PA make some good moonshine, with over 15 flavors in any given season. While they sell their moonshine regionally and nationally, Keith and Lisa had the vision to make their distillery into something more—a community space.
That’s why Tall Pines Distillery went to their fans to finance the construction of an outdoor pavilion. Now Tall Pines Distillery is hosting weddings, live music events, and food truck rallies for their community under the shine of the moon.
5. Gym Equipment
When the personal training and group classes at KS Fitness were nearing 100% capacity, owner Kent Sammons knew that it was time to bulk up into a larger space in his hometown of Hudson, NY.
After securing his dream space, Kent was ready to equip the space with new equipment for his customers. Kent flexed his gym’s amazing brand and raised funds for a 16-piece set of strength circuit machines by borrowing from his biggest fans. Businesses from all sorts of industries can raise funds on Honeycomb—whether it be a restaurant, gym, boutique, salon, or anything else that you can dream of!
6. Research & Development
Located in McKees Rocks, PA, 5 Generation Bakers is the maker of the beloved Jenny Lee Swirl Bread. The company is currently run by Scott Baker, the fifth generation baker in his family since they began baking in 1875.
When Pittsburgh public school districts asked this family-owned bakery to help improve the nutritional content of their lunch bread, 5 Generation Bakers raised $35,200 from 38 community investors to purchase sandwich bread pans and cover R&D costs for a new artisan bread line. Now that’s the type of support that our community needs!
When Alyssa Fine of Pittsburgh Honey decided to double honey production, she needed to purchase 50+ hive nuclei. Even though beehives are technically equipment, traditional lenders don’t see them as collateral.
Luckily, Pittsburgh Honey’s biggest fans knew that the purchase of new hives would help scale the business they loved. Through Honeycomb, local investors were able to lend Alyssa $10,000 for this uncollateralized loan to keep business buzzing.
Ready to take your business to the next level? Learn more about launching a Honeycomb campaign here! Sign up for more information below: