SMBX (Small Business Bonds) Alternatives

While SMBX pioneered small business bond offerings with its 3.5% platform fee and $10 minimum investments, modern B2B companies are finding superior alternatives that offer immediate cash flow solutions without the complexity of crowdfunding campaigns. From Resolve's non-recourse net terms financing to Kiva's zero-interest microloans, these platforms deliver working capital and payment flexibility without requiring businesses to market to investors.

Key Takeaways

Non-recourse financing eliminates risk: Resolve provides non-recourse net-terms financing with the option to advance Up to 90% of approved invoices, fast credit decisions with next-day payouts, and transparent pricing at up to 3.5% for 30-day net terms
Immediate cash flow vs. fundraising campaigns: Unlike SMBX's investor-dependent fundraising model, Resolve pays you within 24 hours of invoice approval without requiring marketing to investors
B2B-focused solutions address real commerce needs: Platforms like Resolve directly solve B2B payment friction by letting you offer net terms while getting paid immediately
Embedded credit expertise replaces DIY crowdfunding: Resolve's team—formerly of Amazon, PayPal, and Fortune 500 firms—delivers deeper credit insights than traditional bureaus, eliminating the need to create investor marketing materials
Automation reduces overhead: AI-powered reconciliation and collections reduce manual work by 50% while transforming customer payment experience
Zero hidden costs: All cash advances are non-recourse so what you get is always yours to keep, with no monthly minimums or setup fees

1. Resolve — Embedded B2B Payments Without the Fundraising Complexity

Resolve stands out as the premier SMBX alternative by eliminating the need for investor marketing campaigns entirely. Instead of raising capital through debt crowdfunding, Resolve embeds net terms directly into your B2B transactions, advancing Up to 90% of approved invoices within 24 hours while your customers enjoy 30, 60, or 90-day payment terms.

Key Features:

100% non-recourse financing with zero merchant risk
Instant credit decisions using proprietary AI underwriting
Net 30, 60, or 90-day payment terms for customers
Up to 100% advance payment within one day
Risk-based fees up to 3.5% for 30-day net terms
QuickBooks, Shopify, BigCommerce integration
White-label payment portal for customer experience

Why It's Better Than SMBX:

SMBX requires businesses to run crowdfunding campaigns with marketing materials, investor updates, and community engagement—all while facing a 3.5% platform fee. Resolve eliminates this complexity entirely by embedding financing directly into your existing sales process. You simply invoice as usual, and Resolve advances your payment while managing credit risk, collections, and receivables.

SMBX raised $4.9M via Reg CF in 2024 through its community-based funding model, while Resolve provides immediate liquidity based on your existing customer relationships. There's no need to create investor marketing materials, track campaign progress, or manage investor communications.

Pricing Structure:

Fees up to 3.5% on 30-day net terms invoices with 100% advance
No monthly minimums or setup fees
No hidden charges or volume requirements
Non-recourse financing means zero risk

The platform's AI-powered reconciliation reduces manual work by 50%, while its LLM-powered invoicing workflow automatically syncs transactions across systems. Recent case studies demonstrate significant impact: Marshall Wolf Automation streamlined their entire B2B payment process, and SSI achieved 5x revenue growth with Resolve's net terms solution.

Unlike traditional invoice factoring, Resolve maintains merchant control over customer relationships while eliminating collections burden. The platform serves thousands of B2B merchants globally backing from Initialized Capital and Commerce Ventures.

How Resolve Transforms B2B Operations:

Resolve's embedded approach represents a fundamental shift in how B2B companies access working capital. Rather than treating financing as a separate fundraising activity, the platform integrates payment terms directly into the checkout experience. When a customer selects net 30, 60, or 90-day terms, Resolve's AI instantly evaluates creditworthiness and provides an approval decision within 24 business hours.

This seamless integration drives measurable business outcomes. Companies using Resolve report higher conversion rates at checkout, larger average order values, and improved customer retention. The white-label portal ensures customers see your branding throughout the payment experience, strengthening relationships rather than introducing third-party friction.

The platform's reconciliation engine automatically matches payments to invoices, syncs data with QuickBooks or other accounting systems, and generates real-time AR reports. This automation eliminates hours of manual data entry while providing complete visibility into cash flow and customer payment patterns.

Understanding the Small Business Financing Landscape

The small business financing landscape has evolved significantly in 2024, with embedded payments and AI-powered underwriting becoming essential for B2B growth. While SMBX offers an innovative crowdfunding approach to debt financing, businesses seeking immediate cash flow solutions without investor marketing complexity are turning to more direct alternatives.

Industry research shows the Reg CF market declined 19% in 2024, signaling a shift toward more efficient capital solutions. This trend has accelerated adoption of platforms like Resolve that embed financing directly into B2B transactions rather than requiring separate fundraising campaigns.

The decline in crowdfunding activity reflects broader market dynamics. Businesses increasingly prioritize speed, simplicity, and integration over community engagement and investor relations. While crowdfunding platforms offer value for certain use cases, the operational overhead of campaign management, investor communications, and regulatory compliance creates barriers for companies focused on core operations.

Embedded finance platforms address these challenges by making financing invisible to the merchant while improving the customer experience. Instead of applying for a loan or running a campaign, businesses simply enable net terms at checkout and receive immediate cash flow as orders arrive.

2. Kiva — Zero-Cost Microloans for Smallest Needs

Kiva represents a completely different approach to small business financing with its nonprofit, zero-interest model. Since 2005, the platform has facilitated over $2.4 billion in loans globally, offering a unique alternative for businesses needing $1,000-$15,000.

Platform Strengths:

0% interest to borrowers
Around 96% repayment rate
No minimum time in business required
Character-based underwriting vs. FICO-driven
Social impact focus

Limitations vs. Resolve:

While Kiva's zero-cost model is unbeatable for microloans, it's limited to $15,000 maximum and depends on attracting enough individual lenders, creating uncertainty around funding timelines. Resolve, by contrast, Resolve advances up to 100% on approved invoices with no reliance on investor participation or crowdfunding timelines.

Kiva works best for businesses needing small amounts for inventory, equipment, or license renewals, while Resolve excels at scaling B2B operations through embedded net terms that directly drive sales growth and customer retention.

3. Honeycomb Credit — Community-Focused Debt Crowdfunding

Honeycomb Credit offers a community-focused alternative to SMBX with enhanced marketing support. Among the top 3 most active by deal count in 2024, Honeycomb provides free professional video production and dedicated campaign managers.

Key Features:

Free professionally shot campaign videos
Dedicated campaign manager included
30-day payment-free period after campaign
Early fund access once minimum is hit
Strong community marketing focus

Higher Costs, More Support:

Honeycomb charges a $250 posting fee plus a platform fee typically around 6–7% of the total amount raised—nearly double SMBX's 3.5% rate. While this includes valuable marketing support, it still requires running a crowdfunding campaign with all the associated complexity.

Resolve eliminates this entirely by embedding financing into your existing sales process. There's no need for campaign videos, investor updates, or community marketing—just offer net terms at checkout and get paid within 24 hours.

4. Wefunder — Largest Investor Pool for Hybrid Strategies

Wefunder leads the Reg CF market with $95.86M raised in 2024, offering the largest investor base of 1.5+ million users. The platform supports flexible instruments including debt, equity, and revenue share.

Platform Capabilities:

1.5+ million investors on platform
Multiple instrument types (debt, equity, revenue share)
Future equity raise potential with established investor base
Flexible deal structures

Platform Limitations:

Wefunder charges a 7.9% success fee on the total amount raised for Reg CF (no upfront fees). Investors also pay transaction fees (e.g., 2% for ACH/wire, or 5.5% + $2 for card-based payments)—more than double SMBX's rate. More importantly, it still requires running a crowdfunding campaign with marketing materials and investor management.

For businesses specifically seeking B2B payment solutions rather than investor fundraising, Resolve provides immediate cash flow without campaign complexity. Wefunder makes more sense for growth-oriented startups planning future equity raises, while Resolve directly addresses B2B commerce friction.

5. Republic — Balanced Approach to Debt Crowdfunding

Republic offers a middle-ground approach with 6% platform fees and a $10 minimum investment (matching SMBX's low barrier to entry). The platform supports multiple instrument types including debt, equity, and revenue share.

Key Features:

$10 minimum investment (tied with SMBX for lowest)
Multiple instrument types
Strong due diligence and curation
Lower fees than Wefunder/StartEngine

Still Requires Campaign Management:

Despite its competitive pricing and low minimum investment, Republic still requires businesses to create and manage crowdfunding campaigns. This includes marketing materials, investor communications, and campaign timeline management—all complexities that Resolve eliminates through embedded financing.

6. StartEngine — Second-Largest Reg CF Platform

StartEngine represents the second-largest Reg CF platform with $85.62M raised in 2024, following its acquisition of SeedInvest in 2023. The platform supports multiple instrument types including debt, equity, and revenue share.

Platform Strengths:

Second-highest Reg CF volume in 2024
Multiple instrument flexibility
Established investor base
Acquired SeedInvest for expanded capabilities

Higher Costs, Same Complexity:

StartEngine typically charges issuers around a 7% cash commission, often with an additional non-cash equity component (commonly cited around 2% of the securities issued). Depending on the offering, investors may also pay a convenience/processing fee (often up to ~3.5%)—significantly higher than SMBX's 3.5% rate. Like all crowdfunding platforms, it still requires campaign management, marketing materials, and investor relationship building.

The Embedded Finance Advantage

The fundamental difference between SMBX alternatives like Resolve and traditional crowdfunding platforms is the embedded finance approach. While SMBX and its competitors require businesses to become fundraisers—creating marketing materials, managing investor relationships, and running campaigns—Resolve embeds financing directly into existing B2B transactions.

Resolve's Embedded Approach:

AI-powered credit decisions in under 30 seconds
Advance rates up to 100% on approved invoices
LLM-powered invoice processing and reconciliation
Automated collections reducing manual work by 50%

Crowdfunding Platform Approach:

Campaign creation and marketing materials
Investor relationship management
Uncertain funding timelines
Platform fees plus marketing costs

According to the 2024 Reg CF report, the overall market declined 19% from 2023, suggesting businesses are seeking more efficient capital solutions. The shift toward embedded finance reflects growing merchant demand for working capital that doesn't require becoming a marketer or fundraiser.

Making the Right Choice for Your Business

For B2B companies evaluating SMBX alternatives, the choice depends on your specific needs, timeline, and business model:

By Business Need:

Immediate cash flow from existing sales: Resolve (embedded net terms, 24-hour advances)
Community marketing benefits: Honeycomb Credit (free videos, campaign support)
Future equity raise potential: Wefunder or Republic (established investor bases)
Lowest crowdfunding fees: SMBX (3.5% platform fee)

Cost Comparison for $100K Financing:

Resolve: $3,500 (3.5% flat fee) with immediate advance
SMBX charges a 3.5% service fee on the total amount raised (plus a small annual maintenance fee), and offers bonds with ~6–10% interest/yield to investors.
Honeycomb charges a $250 listing fee + a platform fee (typically ~6–8%) on the funds raised. Loan interest rates for borrowers are typically set between ~6–12%, depending on credit evaluation.

Implementation Timeline Reality:

Same day: Resolve (with existing integrations)
30-60 days: SMBX, Honeycomb, Wefunder (campaign creation and fundraising)
Days to weeks: Kiva (depends on attracting lenders)

For companies seeking expert guidance on B2B payment platform selection, Resolve's consultancy services provide hands-on support through dedicated account management and technical integration assistance.

Frequently Asked Questions

How do embedded B2B payment platforms differ from debt crowdfunding like SMBX?

Embedded platforms like Resolve integrate financing directly into your existing B2B transactions, advancing payment on approved invoices within 24 hours without requiring investor marketing campaigns. SMBX and similar crowdfunding platforms require businesses to create marketing materials, manage investor relationships, and run fundraising campaigns that can take 30-60 days to complete. Resolve eliminates this complexity by making net terms available at checkout while you get paid immediately.

What should I consider when choosing between Resolve and SMBX?

Key considerations include your timeline, financing amount, and operational capacity. Choose Resolve if you need immediate cash flow from existing customer invoices without campaign complexity. Choose SMBX if you're comfortable with investor marketing and need amounts between $10K-$5M. Consider that Resolve charges up to 3.5% for 30-day net terms with immediate advance, while SMBX charges a 3.5% platform fee plus 6-10% annual interest with uncertain funding timelines.

How quickly can I implement Resolve compared to SMBX?

Resolve integrates in hours to days through turnkey connectors with platforms like BigCommerce, Shopify, QuickBooks. SMBX requires 30-60 days for campaign creation, marketing material development, and investor fundraising. The fastest implementations come from platforms with pre-built integrations and self-serve onboarding like Resolve's B2B Payments Platform.

What happens to my customer relationships if I use Resolve instead of SMBX?

Resolve preserves and enhances customer relationships through white-label payment portals that maintain your branding. Your customers simply see net terms as a payment option at checkout, with no indication that Resolve is involved. This contrasts with SMBX's investor model, which doesn't directly impact customer relationships but requires significant internal resources for campaign management.

How does Resolve's credit underwriting compare to traditional approaches?

Resolve's experts—formerly of Amazon, PayPal, Fortune 500 firms—deliver deeper credit insights than traditional bureaus using AI, behavioral signals, and human expertise. The platform requires only your customer's business name and address, delivering results within 24 business hours. This eliminates the need for extensive documentation while providing more accurate risk assessment than traditional credit scoring methods.

This post is to be used for informational purposes only and does not constitute formal legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Resolve assumes no liability for actions taken in reliance upon the information contained herein.