Honeycomb CreditReviews of honeycombcredit.com

NOT for the investor! This is where friends, family, and customers DONATE their money to a business! This platform is more of a charity and donation system for small businesses. The contracts are INTENTIONALLY written to favor the businesses under ALL circumstances and not the investors. Under NO CIRCUMSTANCES should investors allow themselves to believe Honeycomb Credit will protect their interests in ANY way whatsoever. The moment investors pressure Honeycomb Credit to pursue defaulted loans, they will pass the troubled loan on to a third party to do the work, effectively washing their hands of the problem and making you wait even longer for legal action to get started. Honeycomb Credit will never go after a business themselves. Pitiful. Defaulted loans are allowed to go completely unanswered and unattended for well over a YEAR in many cases before legal proceedings are even begun. This is not an exaggeration. Some defaulted loans are permitted to go unpaid and the debtors are allowed to go uncontested for over a year before any legal proceedings to recover loans are initiated. Let that sink in. In doing your due diligence, notice how almost every single positive review is from a borrowing BUSINESS and NOT from an investor. There’s a reason for that. Honeycomb Credit favors borrowers because they make their money from their fees whether or not their campaigns are successful. Additionally, most businesses have friends, family and customers who become a large part of the investor base and these types of investors (Donors, more like it) are not likely to complain about losing money, late payments or Honeycomb’s questionable practices. They have personal connections to the business with an obvious conflict of interest to the true investors that are in it for the money, not the charity. This is not a platform for investors or people wanting to make money, regardless of their investing background. This is charity. There are SEVERAL issues currently taking place within the company challenging its practices and many of its early investors have left for these reasons. There is zero reason for allowing defaulted loans to appear as being paid in the history pages and for those loans to go unchallenged for several months. Much less for not keeping investors updated. If Honeycomb can bombard us with investment opportunity emails, they can also send status updates instead of ignoring 3 emails on updates requests several months apart. This platform is an utter DISGRACE! *Response: Don’t be sorry my experience has not met my expectations or that my investments have not reached my expectations. Be sorry for failing to provide the adequate support and commitment to the investors you desperately needed in your early years when nobody had faith in your platform. Be sorry for having an atrocious recovery record. Be sorry for failing to keep the Dashboards properly updated. Be sorry for continuing to restrict investor options to go after businesses themselves with the stifling and restrictive contracts you continue to write and have been adviced to edit by attorneys working for investors. That’s where apologies are needed. 07/07/2025

Honeycomb does not pay on time, even when the funded business makes timely repayments. When contacted, Honeycomb provides no explanation other than that payment "should process soon." According to Honeycomb's own website, my first payment was scheduled for 03/20 and should have been available in my wallet by 03/27. It is currently 5 days after 03/27, and there is still no sign of this payment.

Buyer beware. Honeycomb is consistently late with repayments, if they are deposited at all. They offer absolutely no explanation or support.

I invested with this company over two years ago and twice the owner failed to pay her lone. If they don't pay you don't get paid. I understand that, however when call,text or email Honeycomb to keep me updated on the progress, they never get back to me. It's as if they are ignoring me. It's quit frustrating since I invested $5000.00

Under a "vote", all debt can be cancelled for a particular funding. I got less than 2% of principal paid and that's all I'll from that raise. Makes no logical sense and I'll never invest a dime with them again knowing they can pull this lever.

The concept behind Honeycomb Credit is incredibly useful for small businesses, it allows retail investors to earn passive income and share in small business investments. It is especially beneficial when investing in a local business. I've been investing for quite some time and have several thousand riding on the company model. However, it seems HC has outgrown its capabilities and is struggling to update investor Dashboard Profiles with investment data. Even corrections take weeks to be posted. Investors with thousands of dollars in the game need to keep up with this information to gauge and audit their own investments. I'm hoping this is merely a personnel problem with the IT contractor or their programs and not a more concerning financial/bookkeeping issue. Finally, payments take several WEEKS past their due date to be posted. I can see how this may not be HC's fault as there are more than 1 possible cause for this lag--from the debtor to the banking system to the software used. I plan to continue using the site because they are a great business plan for all involved and this may just be a temporary hardship in the early years of the retail investor arena. Fingers crossed! 🤞 *Update 03/2023 With nearly 8 months since my initial review, I've decided to update to reflect the status of my experience in an effort to help others who may be performing their due diligence before investing. I have stopped all investments with HoneyComb Credit. The new payment system has been integrating for almost 9 months and still has several issues. Deposits made to personal bank accounts do not match the dates listed on the in-house Wallet they have implemented. Deposits still take weeks past the stated dates and some depoists are sent to the Wallet and others to personal bank accounts, creating a headache to keep track of payments. I will require an audit once my investments are repaid to match the chaotic deposits. The positive: The Wallet feature is a great idea. It's much easier to see the exact investment that made the deposit and the dates match. It's unfortunate that it still hasn't been completely implemented after almost 9 months. My suggestion to new investors: limit your investments to 1 or 2. This will make things much easier for you to track and allow for faster resolutions when emailing HCC for issues. Having several investments creates a problem when tracking payments as they are sometimes not labeled individually and instead read as anacronym for the LLC or HoneyComb, requiring me to read the repayment contracts for each of my investments to figure out which company had a payment due by the amount. I had very high hopes for regular cash flow and small business help throughout the country, but there's much that needs to be done before I take HCC for a serious investment plan. Good luck everyone!