I came across Honeycomb Credit because a local bakery recently received funding on the platform. I know some people on the AO were lending on Prosper and (one other?) and figured this was similar, but it is small business lending versus personal loans. I thought people might be interested in it and discussing their approaches for evaluating offers.
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For me, I dropped a few $k in for the local bakery. The funding period recently ended so will add updates as things progress. Not much actual evaluation other than I like the bakery, their products and the owner.
Id consider that only for a local business, and only if they were doing capital expansion or something similiar.
We had a post-covid local restaurant try and do a go-fund me for no other reason than ‘we need money’. Nope, nice having you around, see ya.
These are all, well I won’t say all but the ones I looked at, are capital expansions of some sort. While the platform doesn’t have legal liability related to these, they have reputational risk if too many of the offerings fail.