Fund and Grow Questions

33 Replies

Does anyone have any experience with Fund and Grow?? I'm looking to get set up but don't really know how "business credit" works. Almost sounds too good to be true.

I'm looking to sign up as well and was just perusing the forums to gather intel.  Glad to see it worked out for you Robert!

@All,

Once you are approved and you have the money. What is the minimum Downpayment. lower than you regular monthly payment from the lender ?

@Robert A. Coloma So you stated you were able to use this for a downpayment.

1) When you signed up with them, did you indicate that you were going to use the money for a real estate investment?

2) I’m curious if they also have no issue if you wanted the money to use for flips.

3) Did you sign up for the $3,997 membership, or the $1 one?

4) Do they actually give you cash for your LLC bank account, or just a business credit card?

I signed up with them last decemeber. They told me i was pre approved 40k on my first round. It took over 3 months to get the cards. I needed this money to fund my first rehab and pay down debt. Their sales pitch on several podcasts interviews etc are why i went with them. They were only able to get me 24k. Also all that jazz about pulling cash out is tricky and costs money/ more time. I needed 20k min but these are credit cards so you shouldnt be maxing them out unless you can pay them down. So i really only ended up with 12k i can actually use and it dropped my credit score down 30 points. They sound over worked and if you dont stay on top of them weeks will go by without follow up then they pass you on to a new specialist. I dont believe all these reviews. I should have tapped into my primary homes equity heloc would of been a smarter move. 

@ Shawn Regnier

1. Yes. 

2. They don't ask if you are going to use to flip, rehab or whatsoever.

3. I signed up with the membership.

4. They don't give you the cash. It's multiple business credit cards and they don't  show up on your personal credit. You use a company called  Plastiq to pay bills that don't accept credit cards. 

Hope this help!

Originally posted by @Robert A. Coloma :

@ Raymond Richmond

I am just sharing my experienced with them. They were very professional and had no issues with them with follow ups or calls. 

Robert how were you able to use your credit cards to make a down payment on a house that requires cash. What method did you use to pull the cash out because plastiq doesn't do that. They can pay contractors rent mortgages services etc. I've been reading all these sweet stories but it's been a big disappointment for me and costly. I just sent them an email for a refund. If you don't mind elaborating as to why you were able to get such a high amount. They just told me the banks aren't lending out as much anymore because of covid. Was this in 2020?

To everyone drinking the fund and grow cool aid. Good luck maybe they will like you and get you 250k like the did for Robert 1st ?!round or maybe you will get promises and excuses like I did 24k roll the dice.

@ Raymond Richmond

Plastiq can only use Master Card to do the cash for down payment for a fee not with Visa. 

And how did I get 250K? I just provided them what they asked me and they issued with that amount of line.

I used them to fund for my 3rd rental property . That's why I know it works. 

Its all funded in September 2019.

I am just sharing my experienced with them. They were very professional and were very helpful and guided us all the way. Now we are working for our second round.

A

How much did Plastiq charge you to take the money out, and how long does it take for the money to arrive at the title company.

Originally posted by @Robert A. Coloma :

@ Shawn Regnier

1. Yes. 

2. They don't ask if you are going to use to flip, rehab or whatsoever.

3. I signed up with the membership.

4. They don't give you the cash. It's multiple business credit cards and they don't  show up on your personal credit. You use a company called  Plastiq to pay bills that don't accept credit cards. 

Hope this help!