PITTSBURGH, PA / AGILITYPR.NEWS / March 18, 2020 / Today Honeycomb Credit announced it is now offering loans to small businesses that are in need of working capital during the pandemic. Honeycomb operates a platform where a business’s loans are funded by its local community. Local investors, customers, and friends have an opportunity to invest in a business they love, while earning a healthy return. Each Small Business Relief Loan will include a 45-day payment free period and will be interest-only for 6 months. Capital can typically be deployed in as little as 30 days. In order to support small businesses even further, Honeycomb Credit is also reducing its posting, success, and investor fees. Small businesses anywhere in the United States can apply, with the exception of California, Texas, South Dakota, and Alabama. 

Honeycomb CEO Geoge Cook comments “For the past few weeks, the coronavirus (COVID-19) has caused massive disruption to our communities, the stock market, and our daily lives. We know that small businesses are facing unprecedented uncertainty. We also know that there are hundreds of people in every community, and in the Honeycomb network that want to support them.”

About Honeycomb Credit

Honeycomb Credit is a Pittsburgh-based investment crowdfunding website that connects small businesses looking for expansion loans with community members who want to invest locally. 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, Maryland, Michigan 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.