Description

In this episode, we talk to George Cook, who is the Co-Founder and CEO of Honeycomb Credit. Honeycomb Credit is a community capital platform where anyone can invest in an independently-owned small businesses have the potential to earn attractive returns and feel good about where they're putting their money to work.

 [00:01 - 09:00] Honeycomb Credit Business Model 

• George tells about his start in community banking and how he helped launch Honeycomb Credit
• Serving businesses and serving the people who invest in small businesses
• Providing access to business loans for individuals in disadvantaged communities
• Offering opportunities for investment to both accredited and non-accredited investors

[09:01- 25:16] Doing Due Diligence

• Invest as little as a hundred dollars across all campaigns
• The importance of knowing the risks involved in investing
• Due diligence is done for every loan application
• Most loans are used for expansion projects or moving in brick and mortar

[25:17- 33:29] Vision of Honeycomb and the Founders

• Building confidence as a business in the community and seeing returning clients
• Having a passion of helping change people’s lives 
• Being uniquely passionate as well being uniquely qualified
• Helping develop communities 

[33:30- 38:12] Closing Segment

• What is your biggest win?
• Hitting the 5 year mark with Honeycomb Credit
• George Cook’s favorite movie and food?
• The Darkest Hour
• Anything fermented
• What is your current growth edge?
• Creating a team that resonates with the message of Honeycomb
• What content or books are you reading right now?
• The Economist

Connect with George!

Website: https://www.honeycombcredit.com/

Email: george@honeycombcredit.com

Tweetable Quotes:

"We have hundreds of people that invest relatively small amounts of money into a small business. We need to move the money from those people, deploy it to the small business, take the money from the small business and deploy it back to all those people." - George Cook

“Because we've built a bigger pool of investors on our network, because we've improved the technology and improved conversion rates and made it easier for people to invest, and for those reasons, we've started to gain confidence that we can continue to serve businesses for a longer period of time.”- George Cook