Honeycomb CreditReviews of honeycombcredit.com

The company is a typical sales company, where they do a common sales pitch then call you relentless to pay the onboarding fee. That sales agent will disappear and they'll introduce you to another "helper". That helper will provide little to no help before introducing you to another person, called "success manager" You'll be introduced to several people that won't help you after their job is done. Btw, anything they do with your company and the SEC is permanent meaning you cannot undo it.

While our campaign was successful and we reached our goal quite quickly, Honeycomb initiated our payoff documents incorrectly. All the paperwork that we were given was for a setup for a 3-year plan but all of our payments deducted were for a set up for a 5-year plan. We did not catch this error, so some fault lies with us but one would expect that the financial institution initiating the documentation would have done enough due diligence that this would not have occurred in the first place. Instead of wrapping up when we thought, we suddenly realized we still owe $25,000. Yesterday we received a notice that due to third party issues, all loans are subject to have an additional 50 to $150 per month added to the payment to cover costs that they could not anticipate. We have every intention of paying off our debt. Had the paperwork been properly initiated in the first place, we would have already satisfied our obligation. Now we have another 2 years of making payments and an additional fee on top of that. We are now seeking conventional loan consolidation just to get out from under this platform. While we appreciate the innovative crowdsourcing platform, it would appear that they have more PR people on staff than accountants. Needless to say, we no longer recommend this company.

Honeycomb is upfront that these are largely unsecured loans and carry risk. That said, I have invested in 34 companies. 6 have defaulted and another 3 or 4 have modified their payback plans. I have had 2 companies successfully pay off their debt. I will be lucky to break even. This is incredibly higher than Honeycomb’s self-reported 3% default rate. I do not believe these companies are properly vetted by honeycomb. This is a high-risk crowdsourcing loan. Anyone lending money should consider it a donation and then be pleasantly surprised if they actually make a return on their investment.

Honeycomb Credit is not supportive of the investor. The contract I made with Honetcomb was for a three year investment. They in turn sent a repayment schedule for five years. When I asked about this via email, I was told I was correct and that they would consult with their accountants and get back to me. That was several months ago and they have failed to get back to me. Also I was to receive a payment on October 8,2025. At this writing, October 27, 2025, it is still in process.

This platform is great for businesses that wish to obtain donations. However, from an investor's standpoint, it’s not worth it. It could take years before you see any return on your investment—if at all. The quarterly payments are not enforced; I haven’t received any money in over a year from my investment. All Investments are risky, but in my opinion, I’d rather invest in the stock market. I will not do this again. Also, if you read the 5-star reviews, they are mostly from the business owners' perspective. This review is from an investor's perspective.