Questions About My Offering
Can we extend the offering time if need be?
We typically do not extend offerings past the timeline, as this requires additional SEC filings and approvals from current investors. Reach out to your dedicated Customer Experience Manager if you'd like to discuss this option in more depth.
Is there a template email to send to friends or family to let them know about my offering
Yes! Check out this breakdown of who to reach out to, when to reach out to them, and what to say when you do!
How often should I post to social media and send out emails?
We typically recommend posting twice per week on Instagram and Facebook, and once per week on LinkedIn. For more details on Honeycomb's recommendations for social media, check out our social media strategy guide here.
What are Honeycomb's fees to business owners?
Honeycomb charges each business a $250 posting fee and a 6.0 - 8.0% loan origination fee based on the total amount funded.
What does my repayment schedule look like?
Here is a repayment schedule calculator. You can enter your interest rate and term length to see an example of what your repayment schedule might look like. Your finalized repayment schedule will be provided to you at the close of your offering, if you successfully hit at least your minimum funding goal.
What happens if I don't hit the minimum?
If you do not hit your minimum funding goal, unfortunately, you do not receive the loan. Honeycomb will refund any existing investors in your offering, returning their principal invested + investment transaction fee to them. Honeycomb will also notify any current investors that the offering did not reach its minimum required goal.
How long will it take to get the money/closing process?
It typically takes 2-3 business days after an investment is made for the funds to for to settle in Honeycomb's escrow account. If you successfully hit your minimum funding goal, you can expect to receive the full disbursement of your loan within one week of your offering's close. Banking holidays may cause some delays.
Questions About Investing
What is the minimum investment amount?
The minimum investment amount is $100.
Who can invest?
Anyone can invest, as long as you’re 18 or older, and a U.S. citizen with a Social Security Number or U.S Tax ID number.
When do investors get repayments?
Following the successful close of your offering, your business will begin making monthly repayments 30 days following close. Repayments happen automatically, you do not need to submit your monthly payment. Honeycomb will hold your repayments in our secure escrow account and disburse them to your investors on a quarterly basis.
Can I invest in my own offering? Can my employees invest?
Yes! You are legally able to invest in your own offering. Your staff or employees can invest too! We encourage you to share this opportunity with your staff so that they can invest, share the offering with their own networks, and speak to the offering with your customers!
I have someone who is interested in investing. What should I tell them?
For advice on how to explain investing to someone, check out this page here which provides detailed investor education resources.
Financial Term Questions
Find a full detailed list of Honeycomb's frequently used finance terms in this article here.