PITTSBURGH, Feb. 21, 2019 /PRNewswire-PRWeb/ -- Pittsburgh-based financial technology start-up Honeycomb Credit today announced its expansion into the state of Ohio. Honeycomb, a SEC-registered crowd-financing portal for small businesses led by a 6th generation community banker, recently launched a campaign for Cleveland-based Pope's Kitchen, a specialty purveyor of artisanal sauces, cocktail mixes and bar products. Honeycomb is also partnering with country's third largest commercial shared kitchen space The Central Kitchen (formerly known as Cleveland Culinary Launch and Kitchen).
Honeycomb's expansion is a result of growing interest beyond its home markets of Pittsburgh and upstate New York. Honeycomb has already completed 14 deals in these markets, helping businesses to secure loans of over $400,000. Pope's Kitchen commented "Honeycomb provides customers who believe in us an opportunity to support our growth. It gives us a way to raise needed capital to exhibit at the Summer Fancy Food Show, and showcase our products to the national food scene. In addition, the campaign has been a good marketing tool for us."
Honeycomb has already enabled funding for a number of specialty food purveyors, and continues that trend through its partnership with The Central Kitchen. Eric Diamond, Central Kitchen's COO, stated that "we are really excited about the partnership with Honeycomb Credit. As Ohio's largest shared use kitchen incubator, we know a large number of businesses who have well-loved products but still have trouble getting access to capital at reasonable rates. Our partnership with Honeycomb will help us to achieve our goal of increasing the success rate of local food businesses in Northeastern Ohio."
George Cook, CEO of Honeycomb commented, "Honeycomb's expansion into Ohio represents an extraordinary opportunity for us to support hundreds of thousands of Main Street businesses located in the Buckeye State. We look forward to working with The Central Kitchen and others to unlock growth opportunities for small businesses and to build vibrant, financially empowered communities."
About Honeycomb Credit
Honeycomb Credit is a "Funding Portal", which is registered with the SEC and FINRA to act as an intermediary in Securities that are offered and sold under Title III. As a marketplace for bringing together small businesses and investors, Honeycomb offers businesses an opportunity to crowd source debt at reasonable rates from their existing customers. Honeycomb operates in Pennsylvania, New York, and Ohio. Businesses can borrow up to $100,000 for expansion purposes, and investors can invest as little as $100.
SOURCE Honeycomb Credit
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