Introduction

Work Hard Pittsburgh is a cooperatively owned business and talent incubator. Our creative and technical agency, Work Hard Digital Services provides systems and processes for gig economy workers to collaborate on big projects. Our mission is to create an economic advantage for people traditionally underrepresented in the tech and tech adjacent economy. We’ve been in operation since 2013 and are seeking to consolidate credit card debt accumulated over the years.

Work Hard Digital Services is looking to borrow up to $55,000 at 8.25% over 36 months. Anyone who is over 18 years old can invest

 

 


About Work Hard Digital Services

Work Hard Digital Services gathers the region's best freelance talent and deploys it to solve problems for our clients. Our work has far-reaching implications for people working in the gig economy, who either by choice or necessity, find opportunity outside of a normal 9 to 5 job. These people, often just starting their careers, use our systems and network to find greater economic stability. 

Each year we source around $250,000 of contract jobs to about 100 different independent workers in the Pittsburgh region. Hourly rates are always above $35/hour and we provide a robust suite of resources so that our peers can find cost savings to operate their tech and tech adjacent businesses. Included in our no cost supports are access to project management and time tracking software, adobe cloud, robust trainings for upskilling, and lead generation. Client-facing products that are created leverages skills ranging from photography to enterprise-level software development.

 

Some of our extended team capturing content for the third-largest convention in Pittsburgh, Replay FX.

 

The tech and tech adjacent economy needs to be accessible to everyone. As such, on jobs with values over $15,000 we commit to staffing that reflects the demographic makeup of our region. Additionally, our freelance community members frequently work together to launch new products under a system of democratic governance obsessed with being inclusive. Pictured below, community members deploying our in-house conference application. As freelancers work on new products, they have unique opportunities to become founders and earn equity in the new companies that form. 

Pictured below, community members deploying our in-house conference application. As freelancers work on new products, they have unique opportunities to become founders and earn equity in the new companies that form. This is just one of many modes in our system that allows a diverse group of people to find economic advantage in an era where tech is driving wealth consolidation and locking people out of opportunity.

 

 

 


Fast Facts

  • We are currently turning away contracts we do not have the bandwidth to serve
  • 6 years of sustained growth
  • Over $1.3 million of pro bono services donated by our community to small businesses and nonprofits
  • Major awards from philanthropic partners including Google Pittsburgh, and the HeinzHillmanPittsburgh and Birmingham Foundations
  • Recent contracts awards for workforce development of over $550k

 

 

 


The Project

This year, we are scaling operations and expect to create even more opportunities for gig economy workers in our region and beyond. Significant contracts have allowed us to start planning for our future operations, including the acquisition of over 15,000 sq. ft. of new office and production space (pictured below). And, demand for our services has never been higher and membership growth never more robust. Each week we receive around a dozen engagements asking for either service or to participate. We simply can't accommodate this demand in our current configuration. With maturity comes the need for an improved balance sheet. Our strategic plan includes aggressive debt service and consolidation. Your loan allows us to accelerate the elimination of our highest interest debt associated with years of bootstrapped operation. Your support improves our cash flow in the short term, freeing up capital for marketing and maturing other lines of revenue.

Your support improves our cash flow in the short term, freeing up capital for marketing and maturing other lines of revenue. These include investments in new member-owned companies and products as well as the maturation of existing partnerships. Examples of this include income-generating software products built in collaboration with Neighborhood Allies and the Pediatric Palliative Care Coalition slated for launch in 2020.

Many of our freelance entrepreneurs run their own businesses and rely on Work Hard Digital Services contract jobs to help sustain their cash flow as they grow. Additionally, with our longtime nonprofit partner, New Sun Rising, we curate a small business loan fund to help our members scale. Pictured below is a small sampling of companies that have leveraged our resources. They range from the local coffee shop, Black Forge Coffee, to a community wireless provider, Meta Mesh.

 

 


About the Owners

 

 

Work Hard Digital Services was formed by tech entrepreneurs looking for better systems to support the growth of their companies and a community of peers to exchange resources, talent, and knowledge. First, deployed as a coworking space, our community has transitioned to democratic governance and cooperative ownership, allowing us to deeply serve the needs of our members and be advocates region-wide for more equitable ownership of the systems that pushes companies forward. With over 60 owner-operators, our company and its affiliate products are poised to change how our region does business. 

 


The Location

Located in the Allentown neighborhood of the City of Pittsburgh, we serve a diverse cohort of dreamers, activists, artists, and entrepreneurs. Work Hard Digital Services provides our members with robust facilities and access to equipment. Upon completion of our expanded facilities, we’ll deploy over 25,000 square feet of office, production, and light industrial space. Please consider supporting our efforts. Be sure to stop by and say "hi" by reaching out to membership@workhardpgh.com.

 

 


Deal Summary

Issuer

Work Hard Digital Services, LLC

Security Type

Unsecured Loan

Loan Purpose

Refinance of credit card debt

Offering Amount

$20,000 - $55,000

Interest Rate

8.25%

Payments

Monthly, Disbursed to Investors Quarterly

Maturity

36 months

 


Your Earnings Potential

If you choose to invest, you will make a one-time investment via ACH that will be transferred to a secure escrow account. If the campaign successfully reaches its target, the funds will be distributed to Work Hard Digital Services, LLC.

For more information on the mechanics of Honeycomb’s crowd investing platform, please review our Education Materials.

Investment Amount One-Time Fee Potential Quarterly Returns* (Amortizing Period) Potential Total Repayment*
$100 $2.85 $9.43 $113.22
$500 $14.25 $47.17 $566.13
$1,000 $28.50 $94.35 $1,132.26
$5,000 $37.25 $471.77 $5,661.32

*Individual payments may vary slightly based on rounding. Potential repayments include principal and interest, they do not include the one-time fee which is assessed when you make your investment. These amounts are calculated as a fully amortizing loan: principal and interest are paid down starting with the first payment. There are no prepayment penalties and Work Hard Digital Services, LLC may pay down their loan early which may impact your earnings potential. Please note, returns are not guaranteed and investors could lose some or all of their investment.

Your ongoing responsibilities from investing are very limited. Each year over the life of the loan you will receive a 1099-INT, this is a simple tax document similar to what you receive for most savings accounts.

When Work Hard Digital Services pays as agreed, you will receive quarterly payments directly into your bank account. In the event of a default, you will be contacted by the Administrative Agent to manage the collections process on investors' behalf.

 


How Honeycomb is Compensated

Honeycomb charges Work Hard Digital Services, LLC. a $250 posting fee and a 6.0% - 7.0% loan origination fee on the total amount funded.

Total Amount Raised Origination Fee
$21,000 - $49,999 7.0%
$50,000+ 6.0%

 

Additionally, to cover expenses associated with each investment, Honeycomb charges a 2.85% investment fee capped at $37.25 per investor.

Like what you see?  Check out our other campaigns here!