I’m writing this from the road (literally—somewhere between Saratoga and Skaneateles), and I can’t shake the feeling that we’re at one of those pivot moments where everything clicks into place.
This month has been a whirlwind of launches, validations, and real conversations that matter. But here’s what I really want to talk about: the gap between what small businesses need and what they’re actually getting from the financial system.
The Numbers and What They Don’t Tell You
Our new platform is live—thanks to Jeunn and Evie for getting our website production-ready, and to David, Matthew, and Sean for pushing us through Friends & Family testing. We’re now processing applications from assessment to decision in under 24 hours.
Every single borrower in our pilot cohort is current on payments—100% on-time repayment. Sean’s been refining our underwriting model with richer transaction data, and the results speak for themselves. We’re raising around $2M to finance our next 100+ loans, with strong traction from place-based impact investors focused on Upstate New York.
But here’s what those numbers don’t capture: Last week in Buffalo, I met a restaurant owner turned down by three banks for a $25K equipment loan—not because her business wasn’t profitable, but because underwriting couldn’t see past her industry classification. This week, a contractor in Saratoga told me he’s using credit cards at 24% interest because it’s faster than waiting three months for a bank decision.
These aren’t edge cases. This is the reality for thousands of small businesses across Upstate New York. And it’s exactly why we’re building GoodBread.
The Question That Drives Everything We Do
How do we build something that actually serves these businesses—not just the ones that fit neatly into traditional banking boxes?
We think we’re onto something—using real transaction data instead of just credit scores, making decisions in hours not months, building relationships not just processing applications. But I know we’re missing pieces of the puzzle, and that’s where you come in.
Where You Come In
I’m on the road this month for a reason. I’m heading to Buffalo and Lake Placid next week, and if you’re anywhere in the region and want to connect, let’s find time. But whether we meet in person or not, I want to hear from you.
The best solutions come from real conversations with real people facing real problems. So here are the questions keeping me up at night:
If you’re a small business owner: What’s broken about how you access capital? What would make the biggest difference in your day-to-day operations?
If you work with small businesses: What patterns do you see that keep your clients up at night when it comes to financing?
If you’re an investor or advisor: How do we balance responsible growth with the urgency these businesses feel?
We’re accepting applications now across New York. Know businesses that should apply? Reach out for a referral code—word of mouth remains our most effective channel because trust matters in this space.
Looking to connect with investors who care about Upstate NY’s future and want to generate returns through a private credit fund that supports local businesses? Warm introductions are always welcome.
This isn’t about GoodBread hitting milestones. It’s about proving there’s a better way to think about small business finance—one that’s faster, more transparent, and actually designed for the businesses that make our communities tick.
What’s on your mind when it comes to small business finances? What’s working? What’s not? What would you build if you were in our shoes?
This isn’t just about GoodBread. It’s about all of us building a financial system that actually works for the people who keep our communities running. Let’s shape it together.
Send me a note. Find me at a coffee shop somewhere between here and Lake Placid. Let’s talk.
– Noa
hello@goodbread.net
