As a market gets crowded, players start looking for niches to fill.
That’s Honeycomb, an accelerator startup that is now an SEC registered web portal.
Honeycomb plans to have local customers fund small loans for community businesses that have actual revenue.
So, the bakery that wants to buy a new industrial mixer for gluten-free bread can ask its patrons to invest on Honeycomb. When the target amount is reached, Honeycomb lends the money to the bakery that then pays it back over time with interest.
Honeycomb then takes ” a percentage of the funding” as its cut. Local lending to local businesses, that’s the niche.