When Ken Martin left “Wall Street” to make a dent on “Main Street” he really wanted to make a difference. With so much of the economy still operating in small businesses in the old economy, he saw a need–and when an entrepreneur sees a need he sees an opportunity–small business lending for established companies.
Regulation CF, the new crowdfunding investment rules issued by the SEC effective in 2016, create a new opportunity for ordinary investors to put their money to work in the businesses they frequent.
For these businesses, a debt approach makes more sense than equity. As Martin says, “What good are seven shares of the local hardware store?” More to the point, the hardware store can afford to pay back a loan with interest. That’s a deal that is relatively easy for investors to grasp as well.
Preliminary Interview with Ken Martin, the Co-Founder of Honeycomb Credit.
The following is a brief pre-interview that provides context for the recorded interview you may watch or listen to at the top of this article.
Crowdfunding page: https://www.honeycombcredit.com/
What is the purpose of your crowdfunding campaign?
We are a registered funding portal that helps Main Street America get the expansion capital it needs.
More about Honeycomb Credit:
Founded by a 6th-generation rural community banker and an investment banker who left Wall Street for Main Street, Honeycomb is using fintech to build communities one small business at a time.
Unlike other fintech players who focus solely on quantitative metrics resulting in high APRs, Honeycomb uses crowdfunding to bring fair expansion loans to great local businesses. Community banks used to serve our Main Street businesses well, but they are disappearing at a rate of 1 per day. Honeycomb steps into that void between Kickstarter and big banks.
For-profit or Nonprofit: For-profit
Ken Martin’s bio:
Ken is a former Vice President at Barclays investment bank and a serial entrepreneur of Main Street small businesses. He is also a Chartered Financial Analyst and holds degrees from Georgetown, Dartmouth, and the London School of Economics.
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