Community-Driven Investing: How Honeycomb Credit Empowers Small Businesses
I’m not a financial advisor; Superpowers for Good should not be considered investment advice. Seek counsel before making investment decisions.Watch the show on television by downloading the e360tv channel app to your Roku, AppleTV or AmazonFireTV. You can also see it on YouTube.When you purchase an item, launch a campaign or create an investment account after clicking a link here, we may earn a fee. Engage to support our work.Has your business been impacted by the recent fires? Apply now for a chance to receive one of 10 free tickets to SuperCrowdLA on May 2nd and 3rd and gain the tools to rebuild and grow!Devin: What is your superpower?George: Having steady hand and being a reliable, stabilizing force in my organization, but also externally for our customers as well.Access to capital remains one of the most significant challenges for small businesses, particularly for those led by underrepresented founders. Honeycomb Credit, an SEC-registered FINRA member crowdfunding portal, is changing that by enabling everyday investors to support businesses in their communities while earning a return.George Cook, Co-Founder and CEO of Honeycomb Credit, understands the barriers entrepreneurs face. Coming from a family that has operated a community bank for over 130 years, he saw firsthand the difficulties businesses encounter when seeking funding. "Small businesses are more than just a number," George explained. "Yes, financials are critical, but so are qualitative values like how a business treats its customers and employees."Unlike traditional banks, which rely primarily on financial metrics, Honeycomb Credit takes a community-driven approach. Entrepreneurs who apply for funding go through a vetting process before launching campaigns on the platform. Investors, often local supporters, vote with their wallets by investing as little as $100 in businesses they believe in. This creates a dual-layer assessment—both financial and community validation—that increases the likelihood of long-term success.One of the platform’s defining characteristics is its flexibility. Unlike banks that impose rigid repayment structures, Honeycomb allows investors and business owners to collaborate on solutions if a business faces financial difficulties. George described a recent situation where an entrepreneur needed to restructure payments: "We take a lot of pride in our democratic approach. Investors, who believe in the business, get to weigh in on whether to adjust terms or pursue collections. This gives businesses a chance to stabilize and recover, often leading to a better outcome for both sides."Beyond financing, Honeycomb is making a significant impact in supporting diverse entrepreneurs. Over 80% of the businesses on the platform are minority-, women-, or veteran-owned, highlighting the extent to which traditional funding sources have overlooked these groups. "To know that Honeycomb is playing a role in leveling the playing field is really rewarding," George said.With the recent acquisition of Raise Green, a platform focused on climate-related investments, Honeycomb is expanding its impact investing opportunities. This move aligns with its mission of democratizing access to capital while allowing individuals to invest in alignment with their values. "Impact investing isn’t just for the wealthy," George emphasized. "With Honeycomb, anyone can invest in their community and in causes they care about."Honeycomb Credit’s model is proving that financial returns and community impact can go hand in hand. By empowering entrepreneurs and mobilizing local investors, it’s fostering economic growth while giving individuals the opportunity to be part of the success stories in their communities.tl;dr:Honeycomb Credit empowers small businesses by enabling community-driven investments with as little as $100.George emphasizes the importance of qualitative factors in assessing a business’s long-term success.The platform fosters financial inclusivity, with over 80% of funded businesses being minority- or women-owned.Honeycomb Credit’s acquisition of Raise Green expands its impact investing opportunities in the climate sector.George’s superpower, stability under pressure, helps him lead through challenges and inspire his team.How to Develop Stability Under Pressure As a SuperpowerGeorge’s superpower is stability under pressure. As the Co-Founder and CEO of Honeycomb Credit, he has cultivated the ability to remain steady amid the constant ups and downs of entrepreneurship."Being an entrepreneur means you can have the best call of your life in the morning and face an existential crisis by the afternoon," George explained. His ability to maintain composure, lift his team when times are tough, and stay humble when things go well has been key to his success. He believes that leadership requires a stabilizing presence, both for employees and the small business owners Honeycomb supports.A prime example of his superpower in action came during Honeycomb’s acquisition of Raise Green. With significant changes happening within the company, George faced the challenge of ensuring his team remained aligned and engaged. "One of my mentors told me, ‘If you repeat yourself so many times that you’re sick of it, that’s when the team is just starting to hear you,’" he shared. By consistently reinforcing the vision and expectations, he provided clarity and direction during a crucial transition, keeping both employees and stakeholders focused on the long-term mission.For those looking to develop this superpower, George offered practical advice:Stay in the moment. Avoid letting your mind race ahead to the next challenge. Focus on solving one problem at a time.Use deep breathing. Before entering a meeting, take three deep breaths to ground yourself and reset your focus.Communicate with consistency. Repeat key messages frequently to ensure your team fully understands and internalizes them.Stay humble. Celebrate wins but don’t let them cloud your judgment. Likewise, don’t let failures shake your confidence.By following George’s example and advice, you can make stability under pressure a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!Guest ProfileGeorge Cook (he/him):Co-Founder & CEO, Honeycomb CreditAbout Honeycomb Credit: Honeycomb is a community capital platform where independently owned small businesses can borrow expansion loans from their own customers, fans, and community members. With Honeycomb, beloved local businesses are unlocking fair capital while build community wealth in the neighborhoods they serve.Website: honeycombcredit.comCompany Facebook Page: fb.com/honeycombcreditBiographical Information:George Cook is the Co-Founder and CEO of Honeycomb Credit, a Pittsburgh-based, VC-backed, loan crowdfunding website that allows locally owned small businesses to borrow expansion loans from their own loyal customers and fans. Honeycomb unlocks fair growth capital for Main Street businesses, while simultaneously enabling anyone to invest local in their own communities. Born and raised in southwestern Pennsylvania, George is a sixth-generation community banker. His community banking roots have driven him to search for new methods of capital formation and access to credit for small businesses. He started Honeycomb to counter the adverse effects resulting from the rapid consolidation of the community banking industry and to provide small businesses an alternative to predatory online loans that often do more harm than good. Prior to founding Honeycomb Credit, George worked at TransUnion and ZestAI to develop state-of-the-art data analytics tools that help lenders extend credit quickly and fairly. He has also previously served as an Economist at the U.S. Bureau of Labor Statistics.George holds a Bachelor’s degree in Economics and Statistics from George Washington University and an MBA from the Tuck School of Business at Dartmouth College.Linkedin: linkedin.com/in/george-cook-honeycomb/Instagram Handle: @honeycombcreditSupport Our SponsorsOur generous sponsors make our work possible, serving impact investors, social entrepreneurs, community builders and diverse founders. Today’s advertisers include FundingHope, Honeycomb Credit, SuperCrowdLA and Crowdfunding Made Simple. Learn more about advertising with us here.Max-Impact MembersThe following Max-Impact Members provide valuable financial support:Carol Fineagan, Independent Consultant | Lory Moore, Lory Moore Law | Marcia Brinton, High Desert Gear | Paul Lovejoy, Stakeholder Enterprise | Pearl Wright, Global Changemaker | Ralf Mandt, Next Pitch | Scott Thorpe, Philanthropist | Add Your Name HereUpcoming SuperCrowd Event CalendarIf a location is not noted, the events below are virtual.Superpowers for Good Live Pitch – Where Innovation Meets Impact! Join us on March 12, 2025, for the Q1-25 live pitch event, streaming on e360tv, LinkedIn, Facebook, and Instagram. Watch impact-driven startups pitch their bold ideas, connect with investors, and drive positive change. Don’t miss this chance to witness innovation in action!Impact Cherub Club Meeting hosted by The Super Crowd, Inc., a public benefit corporation, on March 18, 2024, at 1:00 PM Eastern. Each month, the Club meets to review new offerings for investment consideration and to conduct due diligence on previously screened deals. To join the Impact Cherub Club, become an Impact Member of the SuperCrowd.SuperCrowdHour, March 19, 2025, at 1:00 PM Eastern. Devin Thorpe will be leading a session on "How to Build a VC-Style Impact Crowdfunding Portfolio." He’ll share expert insights on diversifying investments, identifying high-potential impact ventures, and leveraging crowdfunding for both financial and social returns. Whether you're an experienced investor or just getting started, this is a must-attend! Don’t miss it!SuperCrowdLA: we’re going to be live in Santa Monica, California, May 1-3. Plan to join us for a major, in-person event focused on scaling impact. Sponsored by Digital Niche Agency, ProActive Real Estate and others. This will be a can’t-miss event. Has your business been impacted by the recent fires? Apply now for a chance to receive one of 10 free tickets to SuperCrowdLA on May 2nd and 3rd and gain the tools to rebuild and grow! SuperCrowd25, August 21st and 22nd: This two-day virtual event is an annual tradition but with big upgrades for 2025! We’ll be streaming live across the web and on TV via e360tv. Soon, we’ll open a process for nominating speakers. Check back!Community Event CalendarSuccessful Funding with Karl Dakin, Tuesdays at 10:00 AM ET - Click on EventsIgniting Community Capital to Build Outdoor Recreation Communities, Crowdfund Better, Thursdays, March 20 & 27, April 3 & 10, 2025, at 1:00 PM ET.NC3 Changing the Paradigm: Mobilizing Community Investment Funds, March 7, 2025Asheville Neighborhood Economics, April 1-2, 2-25.Regulated Investment Crowdfunding Summit 2025, Crowdfunding Professional Association, Washington DC, October 21-22, 2025.Call for community action:Please show your support for a tax credit for investments made via Regulation Crowdfunding, benefitting both the investors and the small businesses that receive the investments. Learn more here.If you would like to submit an event for us to share with the 9,000+ changemakers, investors and entrepreneurs who are members of the SuperCrowd, click here. Get full access to Superpowers for Good at www.superpowers4good.com/subscribe