Rental Property Investor · Richardson, TX · Member since 2016 · 61 posts · 14 votes
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 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.
Business credit? I'm not familiar with that. But I do know private lending companies that offer financing on rental properties. 30-year mortgages that don't show on credit and are based on credit, not W2.
@Robert A. Coloma that is awesome, have you been able to access the cash? was this under a newly formed LLC or an already established entity? Thank you for getting back to me, much appreciate it.
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.
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.
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.
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.
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.
What are the names of the companies that offer 30year loans that don’t show up on your credit. Me and my wife have 760+ credit scores and are both doctors looking for capital.