---
title: "Honeycomb Credit Review"
url: https://altstreet.investments/platforms/reviews/honeycomb
kind: platform-review
updated: 2026-10-15
description: "Is Honeycomb Credit legit? Review from 1,109 Reg CF offerings: 4.5% to 14.75% rates, the 3% investor ACH fee, junior-lien loans with no premium, defaults."
publisher: AltStreet (https://altstreet.investments)
license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted.
---

# Honeycomb Credit Review

AltStreet reconstructed Honeycomb's SEC Form C record — 1,109 distinct offerings under its single portal CIK since 2017 — and captured the live campaign book with its per-deal credit terms. Three things the campaign pages do not put together for you: Honeycomb charges investors a 3% ACH transaction fee (5.5% + $2 by card) that its closest structural comparable does not charge at all; 21 of 117 live campaigns disclose an explicitly junior lien — second, third, fourth or subordinate position behind another creditor — and those junior positions carried no observed coupon premium; and FINRA censured and fined the portal $140,000 in May 2025. No per-loan repayment record is published anywhere.

AltStreet score: 44.6 (C), scored August 14, 2026. Method: https://altstreet.investments/platforms

| Field | Value |
| --- | --- |
| Platform | Honeycomb Credit |
| What it is | Regulation Crowdfunding Small-Business Debt Portal |
| Asset class | Small-Business Loans (Main Street, Food & Beverage, Community Solar) |
| Website | honeycombcredit.com |
| Review first published | August 11, 2026 |
| Last updated | October 15, 2026 |
| AltStreet relationship | None: no affiliate, sponsorship or partnership |

## The short version

Honeycomb Credit has filed 1,109 distinct Reg CF offerings since 2017 under a single portal CIK, and the 529 with an amount-raised observation in AltStreet's collected Form C-U progress filings total $35.65 million reported raised. The live book prices small-business debt at 4.5%-14.75% (median 12%) over 1-10 year terms, at a $100 median minimum with no accreditation required. What the campaign pages do not assemble for you: Honeycomb charges investors a 3% ACH transaction fee (5.5% + $2 by card) that its closest structural comparable does not charge; 21 of 117 live campaigns disclose an explicitly junior lien position and are priced no higher than campaigns describing an unqualified blanket lien; FINRA censured and fined the portal $140,000 in May 2025 over intermediary-compliance and recordkeeping findings; and no per-loan repayment or default record is published anywhere.

- **1,109 offerings** Distinct Reg CF offerings under portal CIK 0001705726, 2017 through August 2026, from 2,744 filings. Offerings by first filing year peaked at 283 in 2024, with 202 in 2025 and 133 through August 2026.
- **3% + 5.5%** Investor-side transaction fees: 3% by ACH capped at $75, or 5.5% + $2 uncapped by card; 0% via Honeycomb Wallet. Climatize, the closest structural comparable, charges investors no transaction fee.
- **21 junior liens** 18% of live campaigns disclose second, third, fourth or subordinate lien position — and price at a median 11.75% against 12.5% for unqualified blanket liens. No observed premium for standing behind another creditor (unadjusted comparison).
- **$140,000** FINRA censure and fine, AWC issued May 14, 2025, over two Reg CF offerings where an issuer-affiliated portal improperly acted as intermediary, plus a communications-preservation failure. Consented without admitting or denying.
- **4.5%-14.75%** Offered annual rates across the 112 debt campaigns captured — median 12%, mean 11.3%. Coupons on unrated small-business credit with no published loss history behind them.

Data note: AltStreet SEC Form C census of the Honeycomb portal CIK (1,109 distinct offerings, 2,744 filings, 2017-2026), an authenticated capture of 117 live campaigns with per-deal credit terms and fee disclosures, and FINRA's disciplinary record for Funding Portal Org ID #289015. August 2026.


## Key figures

| Figure | What it is | Context |
| --- | --- | --- |
| 3% / 5.5% | Investor-side transaction fee — ACH (capped $75) vs credit card (uncapped) | Charged on top of issuer-paid fees. Climatize, the closest structural comparable, charges investors 0% |
| 21 of 117 | Live campaigns disclosing a junior lien — second, third, fourth or subordinate position | Median 11.75% coupon vs 12.5% for unqualified blanket liens — no observed premium for junior position |
| $140,000 | FINRA censure and fine — AWC issued May 14, 2025 (Funding Portal Org ID #289015) | Two Reg CF offerings with an improperly acting affiliated intermediary, plus a recordkeeping failure; consented without admitting or denying |
| 1,109 / $44.96M | Distinct Reg CF offerings filed since 2017 and reported raises across 529 of them | Both portal CIKs, 2,744 filings — broadly consistent with the platform's $30M claim |


## Verdict

Honeycomb Credit is the most accessible private-credit venue AltStreet tracks: roughly $100 checks, no accreditation, 1,109 filed offerings, and a borrower base — independent restaurants, breweries, farms, community solar — that conventional lenders serve poorly at this loan size. Per-deal disclosure is better than most Reg CF portals, including publishing the platform's own compensation on every campaign. The reservations are specific: an investor-side transaction fee its closest comparable does not charge, an 18% junior-lien share priced no higher than unqualified blanket-lien paper, a $140,000 FINRA censure in May 2025, no published repayment history, and no secondary market. A defensible place for small, widely-spread, socially-motivated capital — not a place to underwrite purely on the 12% headline.

**Best for**

- Community-motivated investors placing $100-$1,000 across many businesses they understand or patronize
- Non-accredited investors who want fixed-coupon private credit and accept that the diligence burden is entirely theirs
- Investors who will fund by ACH or wallet, read the collateral wording verbatim, and ladder short-to-medium terms
- Anyone whose goal includes local economic impact alongside return — the borrower base is genuinely Main Street

**Look elsewhere if**

- You are optimizing purely for yield — the transaction fee, the junior liens that carry no observed premium, and the missing loss data all reduce what a 12% coupon is worth
- You need liquidity — there is no secondary market and terms run to 10 years
- You would fund by credit card — 5.5% + $2 with no cap is a severe drag on a small check
- You require published performance data before committing capital — none exists at the loan level

**Strengths**

- Genuine access: roughly $100 median minimum, no accreditation, and a filing-verified book of 1,109 offerings since 2017
- Unusually rich per-deal disclosure — rate, term, repayment schedule, collateral wording including lien position, personal guaranty, escrow bank, and Honeycomb's own compensation on every campaign page
- Reported raises across collected progress filings ($44.96M over 529 offerings) are broadly consistent with the scale of the platform's $30M claim
- Real borrower diversity across many states and sectors, with meaningful community-lending impact behind the volume

**Limitations**

- Investor-side transaction fees (3% ACH / 5.5% + $2 card) that the closest comparable Reg CF debt platform does not charge
- 21 of 117 campaigns (18%) disclose a junior lien position, priced no higher than unqualified blanket-lien campaigns
- FINRA censure and $140,000 fine, AWC issued May 14, 2025, over intermediary-compliance and recordkeeping findings
- No per-loan repayment, delinquency or default ledger published; no secondary market; terms to 10 years


## What this means for your decision.

| Topic | Finding |
| --- | --- |
|  | You pay a transaction fee that the closest comparable platform does not charge |
|  | Junior liens are common, disclosed, and carried no observed coupon premium |
|  | The offered rate is a coupon, and no repayment history is published anywhere |
|  | FINRA censured and fined the portal $140,000 in May 2025 |

Honeycomb is the most accessible private-credit venue AltStreet tracks — roughly $100 checks, no accreditation, 1,109 filed offerings since 2017, and a borrower base of independent restaurants, breweries, farms and community solar projects that conventional lenders reach poorly at this loan size. Its per-deal disclosure is genuinely better than most Reg CF portals, and its scale figures are broadly consistent with the filing record. The reservations are specific rather than sweeping: an investor-side fee its closest comparable does not charge, an 18% junior-lien share that earned no observed premium for its weaker recovery position, a $140,000 FINRA censure, and no repayment data against which to price any of it. Community lending with a real social case, bought with less outcome information than the 12% headline implies.


## Who it fits

| Investor | Fit | Why |
| --- | --- | --- |
| Community-Motivated Small-Check Investors ($100-$1,000 positions) | well-suited |  |
| Non-Accredited Yield Seekers Building a Diversified Note Book | neutral |  |
| Impact Investors Prioritizing Local Economic Development | well-suited |  |
| Yield-Focused Investors Comparing on Headline Rate | poor-fit |  |
| Investors Requiring Liquidity or Capital Access | poor-fit |  |
| Investors Using Retirement Accounts | poor-fit |  |


## Questions

**What is Honeycomb Credit and how does it work?**

Honeycomb Credit is a Regulation Crowdfunding portal where anyone can lend money to small local businesses — restaurants, breweries, bakeries, retailers, farms, community solar projects — typically starting around $100. Honeycomb Portal LLC is an SEC-registered funding portal and has been a FINRA funding portal member since December 2017. Each campaign is a fixed-rate loan with an SEC Form C behind it: you invest, funds sit in escrow (Thread Bank on campaigns naming an agent) until the offering clears its SEC target amount, and the business then repays principal and interest on a schedule — usually quarterly — over one to ten years. Interest is reported on Form 1099-INT. Across the 117 live campaigns AltStreet captured in August 2026, debt offerings were priced between 4.5% and 14.75%, with a median of 12%.

**What fees does Honeycomb charge investors?**

This is important to understand before investing, because the closest comparable platform charges investors nothing. Honeycomb charges a one-time transaction fee on every investment: 3.00% by ACH, capped at $75; 5.50% plus $2.00 by credit card with no cap; and 0% if you invest from an already-funded Honeycomb Wallet. The fee is disclosed on every campaign page but is not reflected in the advertised interest rate. At the platform's median $100 minimum, $3 is debited on top of every $100 invested before any interest accrues, and a card-funded $100 investment costs $107.50. Because most Honeycomb loans amortize rather than paying interest-only, total interest over a note's life is well below a simple rate-times-principal figure, so the fee consumes a larger share of net return than it first appears. Because the $75 ACH cap only binds above $2,500, the fee weighs proportionally hardest on the smallest investments. Separately, the business pays Honeycomb a posting fee (usually $500) and an origination fee of up to 8.5% of what it raises.

**Are Honeycomb loans secured, and what lien position do investors hold?**

Most campaigns describe collateral, and — unusually — many state their lien position explicitly. Reading the free-text collateral field across the 117 live campaigns AltStreet captured: 73 describe an unqualified blanket lien on the company's assets, 21 describe an explicitly junior position (12 second-lien, 2 third-lien, 2 fourth-lien and 5 'subordinate'), 4 describe a purchase-money security interest, and 19 state there is no collateral — 14 of them debt campaigns, the other 5 the SAFE and equity offerings where collateral does not apply. A personal guaranty is disclosed on 86 of 117 (74%). The finding that matters is pricing: the junior-position debt campaigns carry a median 11.75% coupon against 12.50% for unqualified blanket liens, so standing behind another creditor earned no observed premium — an unadjusted comparison that does not control for issuer condition, term, guaranties or sector. Two caveats — where a campaign says only 'blanket lien,' the position is not stated, so first position cannot be assumed; and no campaign provides a collateral valuation or any indication of a guarantor's capacity to pay. Note also that the platform's own boolean lien flags understate its text disclosure, so read the collateral sentence rather than relying on UI indicators.

**What returns can investors expect, and what happens if a business defaults?**

Debt campaigns are priced at 4.5% to 14.75% annually (median 12%, mean 11.3%), fixed for terms of one to ten years, with most repaying quarterly. These are offered coupons, not realized returns: Honeycomb publishes no per-loan repayment, delinquency, default, or recovery data at any level of aggregation. If a business defaults, campaign materials state that an administrative agent contacts investors to manage collections on their behalf — but no historical default rate, recovery percentage, or workout case history is published, and in the 18% of campaigns disclosing a junior lien your claim sits behind a senior creditor. Size every position so that a total loss is survivable, and spread capital across many businesses rather than concentrating.

**Has Honeycomb been subject to any regulatory action?**

Yes. Under a FINRA Letter of Acceptance, Waiver and Consent issued May 14, 2025, Honeycomb Portal LLC (Funding Portal Org ID #289015) was censured, fined $140,000, and required to comply with a corrective-action undertaking. Without admitting or denying the findings, the firm consented to findings that while acting as intermediary for an issuer in two Reg CF offerings between March 2021 and January 2023, it knew or should have known that a separate funding portal affiliated with the issuer was improperly performing intermediary functions — Regulation Crowdfunding requires an offering to be conducted exclusively through a single intermediary — leaving Honeycomb without a reasonable basis to believe the issuer complied with Reg CF. It also consented to findings that it failed to make and preserve certain electronic communications concerning those offerings. Context matters in both directions: this concerned two offerings out of more than a thousand and made no findings about loan quality, repayment, or investor losses — but verifying issuer compliance is the core regulatory function a funding portal performs, so it is a fair data point about the diligence layer investors rely on.

**Does Honeycomb's 83% success rate mean the loans get repaid?**

No. Honeycomb does not publish the metric's definition, denominator, or period; it appears to be a fundraising-completion measure, and in any event it is not a repayment measure. The same is true of the platform's other headline figures — $30M invested, 1,142 jobs supported, 60% average post-campaign revenue growth — which describe origination volume and borrower prosperity, not investor outcomes. The claim also cannot be tested against the platform's live directory, because canceled campaigns are not listed there: any rate computed from the surviving listings is biased upward by construction. AltStreet's census can confirm what was filed and what was reported raised, not what came back.

**How liquid are Honeycomb investments?**

They are not liquid. Honeycomb provides no secondary market, no redemption program and no buyback, so investors should expect to hold through scheduled repayment or maturity. Reg CF securities are additionally restricted from resale for one year, subject to limited statutory exceptions such as transfers back to the issuer, to accredited investors, or certain family and estate transfers — but no venue exists to transact in these notes in practice. Terms across the live book run from one month to ten years, with a median of five. Your practical options are canceling before the 48-hour pre-deadline cutoff — in which case your investment and fees are returned in about five business days — or receiving scheduled principal and interest through maturity.

**Who can invest, and what is the minimum?**

Any US investor 18 or older can participate — no accreditation required, because offerings are made under Regulation Crowdfunding. Minimums are set per campaign and ranged from $25 to $1,000 across the live book, with a median of $100. Non-accredited investors are subject to Reg CF's annual investment limits, calculated from income and net worth and applied across all funding portals combined over a rolling 12 months, so investors active on multiple platforms must track their own combined total.

**How is Honeycomb income taxed?**

Note payments are ordinary interest income, reported on Form 1099-INT and taxed at your marginal federal rate (up to 37%) plus any applicable state tax. There are no K-1s — the tax profile is deliberately simple. Principal repayments are a return of basis and are not themselves taxable. Two asymmetries are worth knowing. The investor transaction fee is generally not separately deductible for individuals, so it is best treated as a reduction in effective yield. And on the loss side, if a bona fide nonbusiness debt ultimately becomes wholly worthless, an individual may generally claim it as a short-term capital loss subject to the annual net capital-loss limitation — but a payment default by itself does not establish worthlessness, and partial worthlessness is generally not deductible for nonbusiness debts. Fully taxable interest against deferred, capital-character loss recognition is unfavorable relative to the headline coupon. Confirm treatment with a tax adviser for your own circumstances.

**How does Honeycomb compare to Climatize and Groundfloor?**

All three offer fixed-rate debt to non-accredited investors at low minimums, but they differ where it counts. Climatize runs nearly the same Reg CF instrument for clean-energy projects at a $10 minimum and charges investors no transaction fee — every fee falls on the issuer — making it the direct structural counterexample to Honeycomb's investor fee. Groundfloor offers short-term real estate debt secured by first-position liens and publishes full loan-level repayment and default history, which is the performance-transparency standard Honeycomb has not met. Honeycomb's genuine advantages are borrower diversity — 1,109 distinct offerings across Main Street businesses in many states — and unusually deep per-deal disclosure, including stating junior lien position plainly and publishing its own compensation on every campaign page. Choose Honeycomb for community lending breadth and deal-level transparency; choose Climatize to avoid investor fees; choose Groundfloor if published track-record data is a requirement of your process.

**Who should invest on Honeycomb — and who should avoid it?**

Well-suited: community-motivated investors placing $100-$1,000 across many local businesses they understand; non-accredited investors who want fixed-coupon private credit and will read the Form C and the collateral wording; impact investors weighting local economic development alongside return. Should avoid: anyone needing liquidity before maturity (there is no secondary market); investors who would fund by credit card (5.5% + $2 with no cap is punitive); yield maximizers sorting by coupon, since rate here tracks issuer segment rather than collateral quality and junior liens carry no premium; investors requiring published performance data, which does not exist at the loan level; and anyone unwilling to open SEC filings, because the collateral wording and issuer financials vary materially deal to deal and are exactly what determines outcomes. Retirement-account investors should confirm custodian support before assuming access, as self-directed custodians for Reg CF notes are uncommon and their fees weigh heavily at these position sizes.


## Update history

**October 15, 2026: Annual reports and terminations now in the record; two September filings and nine closes applied, including a landfill solar note that closed at 15.6% of its target**

AltStreet triaged the 123 signals its monitoring attached to Honeycomb between September 16 and October 15, 2026. 121 are the Reg CF lifecycle backfill, which has now collected the annual reports (C-AR), terminations (C-TR) and withdrawals (C-W) this review previously listed as outside its coverage: 23 annual reports, 4 terminations and 2 withdrawals are on the deal records alongside 53 progress updates and 53 amendments. Two filings are new in the window. Tatleaux Browns Mills Landfill Solar, LLC reported its close on September 29, 2026 at $78,100.46 against a $500,000 target, 15.6%, after a September 15 deadline. Sunpath Consulting LLC moved its deadline from September 21 to October 29, 2026 by amendment. The sweep also applied nine closes and two annual reports that had been filed but never reached their deals; two of the closes are offerings that closed unsuccessfully with nothing sold.

**September 19, 2026: Realized capital updated from SEC data**

Reported raises across 529 offerings with a Form C-U amount updated to $44.96M after AltStreet recomputed issuers that ran more than one campaign.

**September 16, 2026: Raise Green folded in: Honeycomb services the climate portal's investors, and its 45-offering record is now linked to this review**

Honeycomb Credit acquired certain assets of Raise Green Inc., the climate-focused Regulation Crowdfunding portal, not including Raise Green's funding portal license, and took over servicing repayments for Raise Green's investors, whose profiles were available on Honeycomb by January 5, 2025 (honeycombcredit.com/raisegreen). AltStreet has linked Raise Green's EDGAR record to this platform: 45 Form C offerings by 23 issuers filed through Raise Green, Inc. (funding portal CIK 1747584) between July 13, 2020 and October 28, 2024, 39 of them with a reported close totaling $10,597,941 raised. Three programmatic issuers account for $9.07 million of that: BlocPower Energy Services 3 ($3.18 million over four offerings), Connecticut Green Bank's Green Liberty Notes ($3.14 million over twelve) and National Energy Improvement Fund ($2.74 million over nine), the same issuers this review already identifies as Honeycomb's programmatic clean-energy segment, which is therefore a migrated book as much as a new one. Raise Green's offerings are not added to Honeycomb's origination counts (they were originated on a different portal); they are recorded as the serviced legacy book. No Raise Green filing has appeared on EDGAR since October 2024. Scores are unchanged.


## Evidence appendix

Platform website captured August 10, 2026.

Four primary sources: (1) an SEC EDGAR Form C census of the Honeycomb portal CIK (0001705726) covering 1,109 distinct offerings and 2,744 filings from 2017 through August 2026, ingested via AltStreet's Form C lane with amendments and progress filings included; (2) an authenticated capture of the platform's live campaign directory (117 campaigns) parsed from the page's embedded application state, carrying per-deal interest rate, term, repayment schedule, free-text collateral description, personal-guaranty status, escrow agent, issuer identity and location, investment minimums, and Honeycomb's own per-campaign compensation disclosure; (3) FINRA's disciplinary record for Honeycomb Portal LLC (Funding Portal Org ID #289015); and (4) a site and blog capture dated 2026-08-10. Campaigns were linked to their SEC filings by accession number extracted from each campaign's filing URL — 116 of 117 matched deterministically. Collateral was classified from the free-text collateral field rather than the directory's boolean lien flags, because the flags understate the platform's own text disclosure (blanketLien is true on 25 campaigns while 73 describe a blanket lien in text). Offering counts by year use each offering's earliest filing; filing counts are reported separately and are roughly 2.5x higher because most offerings generate amendments and progress updates. Coupon comparisons across collateral groups are unadjusted — they compare observed offered rates and do not control for issuer credit quality, loan term, guaranties, sector, geography or other underwriting variables.

**Highlights**

- AltStreet's census covers 1,109 distinct Reg CF offerings under Honeycomb's portal CIK 0001705726, comprising 2,744 filings (1,189 Form C, 862 Form C/A, 693 Form C-U) from 2017 through August 2026. Distinct offerings by earliest filing year: 2 (2017), 13, 39, 64, 61, 97, 214, 283 (2024), 202 (2025), 134 (2026 through August). The offerings resolve to 1,095 distinct issuer CIKs — overwhelmingly one offering per issuer, with a small repeat-issuer tail. Filing counts run roughly 2.5x higher than offering counts and should not be read as origination counts.
- 529 offerings carry an amount-raised observation in the collected Form C-U progress filings, totaling $35,647,958 — median $39,740, maximum $4,790,500. Because C-U filings are made at interim milestones as well as at close, this is the aggregate amount reported raised across the latest collected observation per offering, and is directionally consistent with the scale of the platform's company-reported '$30M invested' figure rather than an audit of it.
- Live-book credit terms across 117 captured campaigns: 112 debt offerings priced 4.50%-14.75% (median 12.00%, mean 11.27%) over 1-10 year terms (median 5); plus 3 SAFEs and 2 equity offerings whose 'rate' fields record discount or equity terms rather than interest.
- Collateral, classified from the free-text campaign field: 73 campaigns describe an unqualified blanket lien on company assets; 21 describe an explicitly junior position (12 second-lien, 2 third-lien, 2 fourth-lien, 5 'subordinate'); 4 describe a purchase-money security interest; and 19 state no collateral — 14 of them debt campaigns, the other 5 the SAFE and equity offerings where collateral does not apply. Personal guaranty is disclosed on 86 of 117 (74%).
- Coupon by disclosed collateral position across the 112 debt campaigns: unqualified blanket lien median 12.50% (mean 12.22%, n=73); explicitly junior position median 11.75% (mean 11.33%, n=21); purchase-money median 12.75% (n=4); no collateral stated median 7.00% (mean 5.95%, n=14). Junior liens therefore carried no observed coupon premium in the captured book — junior paper prices slightly below paper described only as an unqualified blanket lien. This is an unadjusted comparison of observed coupons and does not control for issuer credit quality, loan term, guaranties, sector or geography.
- The no-collateral group is not weak Main Street credit: it consists predominantly of quasi-public and institutional clean-energy programs — Connecticut Green Bank Green Liberty Notes at 4.5%, National Energy Improvement Fund certificates at 7%, BlocPower at 9.25%, Green Compass at 7% — which is why it carries the platform's lowest rates. Personal-guaranty absence shows the same pattern: median 9.25% where absent (n=26) versus 12.50% where present (n=86).
- Data-quality finding: the campaign directory's structured lien flags materially understate its own text. The boolean blanketLien field is true on 25 campaigns while 73 describe a blanket lien in the collateral text, and the equipmentLien boolean is true on exactly 1. Any analysis built on the flags rather than the text would misstate the platform's security profile.
- FINRA disciplinary action: AWC issued May 14, 2025 against Honeycomb Portal LLC (Funding Portal Org ID #289015, Pittsburgh, PA; FINRA funding portal member since December 2017). Censured, fined $140,000, and required to comply with a corrective-action undertaking. Without admitting or denying the findings, the firm consented to findings that while acting as intermediary for an issuer in two Reg CF offerings between March 2021 and January 2023, it knew or should have known a separate issuer-affiliated funding portal was improperly performing intermediary functions contrary to Reg CF's single-intermediary requirement; and that it failed to make and preserve certain electronic communications about those offerings.
- Fee structure verified per campaign, disclosed on all 117: issuer-side posting fee $0-$500 (median $500, six distinct values) plus origination fee 3.75%-8.5% of gross proceeds (8.5% on 105 of the 115 disclosing, with ten between 3.75% and 5.5%); servicing fees disclosed on 5 campaigns ranging from 0.5% annually to 0.25% monthly. Investor-side: 3.00% ACH capped at $75, 5.50% + $2.00 by card with no cap, 0% from a funded Honeycomb Wallet.
- Campaign outcomes in the capture: 87 funded, 26 fundraising, 4 finalizing. All 87 funded campaigns cleared their SEC target offering amount; 18 (21%) reached the maximum offering amount; the median funded campaign closed at 56% of that maximum. Failed campaigns are not listed on the platform, so no completion rate can be computed from this source.
- Field verification across 116 matched campaigns: the page's stated minimum equaled the SEC target offering amount on 89, and the page's headline goal equaled the SEC maximum on 103 — so the displayed goal usually, though not always, corresponded to the maximum rather than the amount the raise had to clear.
- Investor minimums range $25-$1,000 with a $100 median. Repayment schedules across all 117 campaigns: 82 quarterly (including 24 where the business pays monthly and Honeycomb disburses quarterly), 26 monthly, 4 annually, 1 bullet at maturity, and 4 with no schedule stated. Escrow at Thread Bank where an agent is named.
- Geographic and issuer concentration in the live book: Pennsylvania (21), California (14), New York (13), Connecticut (7), Texas (6), Michigan (5), Florida (5), Washington (4). Six issuers appear more than once, led by the Connecticut Green Bank's Green Liberty Notes (6 offerings at 4.5%) and the National Energy Improvement Fund (4).

**Primary source pages**

- honeycombcredit.com (site and blog capture, 2026-08-10)
- Honeycomb live campaign directory (authenticated capture, 117 campaigns, August 2026)
- SEC EDGAR Form C filings — Honeycomb Portal LLC, CIK 0001705726 (f/k/a Honeycomb Credit, Inc.; sole intermediary CIK on all collected filings)
- FINRA Disciplinary and Other FINRA Actions, July 2025 — Honeycomb Portal LLC AWC issued May 14, 2025 (Funding Portal Org ID #289015)
- Honeycomb 2024 Impact Report (company-reported figures)
- AltStreet platform database (1,109 offerings, 117 linked deal records, verified August 2026)


## Related

- Full review (HTML): https://altstreet.investments/platforms/reviews/honeycomb
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Source page: https://altstreet.investments/platforms/reviews/honeycomb
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AltStreet reads what platforms, funds and issuers file with the SEC and what they tell investors, and publishes the difference. Figures are as filed or as captured on the date stated; nothing here is investment advice.