About Documents
$11,976.48 Funded
$10,000 Target
Closed Time Left
21 Investors
$10,000 Min. Raise
$21,600 Max. Raise
42 mo. Term Length
13.75% Interest Rate




We are locally owned and operated and proud members of the neighborhood of Mackenzie in Detroit, MI. Our business is awesome because we work to beautify our neighborhood while providing good jobs and fair prices to our customers. We are raising money for repairs and maintenance and equipment for our business.

We are looking to borrow between $10,000 and $21,000 at 13.75% over 42 months.



The Project

I have big plans for KBI. I have a vision of remodeling our building, repairing the roof, repainting the doors, adding lights outside and generally making our corner beautiful. I also would like to add office space that I can make available to other businesses to help them get a sure-footed start.



My shop is in a low-to-moderate income area, but I've been here for 20 years and my clients come from all around the city – as well as affluent suburbs – because of the customer service I offer and the prices that go with it. My business encompasses the ability to prove inner-city businesses can be sustainable and I would like to be a part of revitalizing Detroit proper. I would also love to add a couple of offices that I can make available to other businesses to help them get a sure footing in the area.



The purpose of this campaign is to refinance all of my outstanding credit card debt from the high-interest rate it is at now to a lower rate. I also will be able to save for future projects and possibly even for a second location someday!

The second thing the funds from this campaign would be put towards would be for a car lift. My body is not as young as it once was and contorting into those positions is not easy. It is a lot of wear and tear on this old body! Plus, with a lift, we can just work faster and safer.


This is the lift I would like to buy. It is a specially designed lift to fit in garages with lower ceilings and does not need to be permanently installed. Purchase and installation will cost about $3,000.

Photo Credit: The Home Depot


About KBI

I've been working on cars since I was 13 and being from the Motor City, becoming a mechanic seemed only natural. I always remember my father talking about how unfair the prices were to repair a car so I always thought to myself, 'I will just learn to fix my own!' As I grew up, I realized I wanted to be an entrepreneur. Then it dawned on me that it entirely made sense for me to start my own repair business. I had already learned a lot of the skills to be a mechanic and prices hadn't improved over the years.

The first version of KBI was actually me working as a mobile mechanic. I had a big Ford van and I would go out to people's homes and do repairs in front of their homes. This worked for me to start making a name for myself, but there are only so many repairs you can do out of the back of a van. 

Then I found the location where our shop is now. This meant KBI had a lot more space and we could buy some more heavy-duty equipment. We have been in this space for 20 years now and plan to be there for many more to come!



Fast Facts

  • Run by an experienced mechanic, KBI has been in operation for over 20 years 
  • Proud entrepreneur and employer in Mackenzie, a historically underinvested community in Detroit, MI
  • We provide a very fair service for many customers that really need the help
  • Our clients come from all over not only for our prices but because of our excellent customer service
  • We have a very consistent and loyal clientele 
  • Already ran a very successful Kiva campaign and are ready to take the next step
  • 13.75% interest rate


About the Owner



I've been working on cars since the age of 13. My first job was working in a body shop as a prep man. Then I moved on to working for a company called Home Auto Service. I'm still really good friends with the owner, he's like a brother to me. To this day I still Know I can always call him for help or vice versa.

I went to Mumford High School and in the 10th grade, my family learned about Michigan Automotive Academy. I was able to go to Michigan Automotive Academy for 11th and 12th grade and I graduated from high school as a certified mechanic.

I've done other jobs over the years but they were just ways for me to shore up my business. I've always had the entrepreneur's spirit. It's not about the money to me it's about doing what I love. That is what it is all about.


The Location

The shop is located on Meyers near Schoolcraft in the neighborhood of Mackenzie in Detroit. Our website is kbiauto.com, from our site you can book appointments, learn about our pricing, see videos on some of the services we provide, and contact us. We have some of the best prices around thanks to our ability to keep overhead low.


Deal Summary

Deal Summary



Security Type

Secured Loan

Loan Purpose

Refinance credit card debt and purchase a car lift

Offering Amount

$10,000 - $21,600

Interest Rate



Monthly, Disbursed to Investors Quarterly


6 months interest only followed by 36 months fully amortizing

Personal Guaranty

Yes, Philip Knight (owner)

Security Interest

Lien on refinanced equipment and equipment to be purchased


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 K.B.I., 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* (Interest Only Period) Potential Quarterly Returns* (Amortizing Period) Potential Total Repayment*
$100 $2.85 $3.44 $10.22 $129.48
$500 $14.25 $17.19 $51.08 $647.39
$1,000 $28.50 $34.38 $102.17 $1,294.78
$5,000 $37.25 $171.88 $510.84 $6,473.89

*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 K.B.I., 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.

K.B.I., LLC 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 K.B.I., LLC a $250 posting fee and a  7.0% - 8.0% loan origination fee on the total amount funded.

Total Amount Raised Origination Fee
$10,000 - $19,999 8.0%
$20,000 - $21,600 7.0%

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

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