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.
@Shawn Regnier, I've heard of a few people working with them. But have never heard anyone say they've gotten more than 30 to 40k on the first round. Also have heard its hard to turn the credit into actual cash. I've thought several times about using Fund and Grow but it seems to much of a struggle. And have heard to many negative reviews.
Hello to All. I have been considering it for some time, but reviews continue to be very mixed. @Felicia Hamilton are you still working with them? Do you mind sharing how much you received in your 1st round? Have you used the card(s) for RE purchases or for rehab costs? I was considering this option to purchase the property or make the down payment. Could someone on the string share their experience in using the business credit card(s) to purchase or make the down payment?
Hello to All. I have been considering it for some time, but reviews continue to be very mixed. @Felicia Hamilton are you still working with them? Do you mind sharing how much you received in your 1st round? Have you used the card(s) for RE purchases or for rehab costs? I was considering this option to purchase the property or make the down payment. Could someone on the string share their experience in using the business credit card(s) to purchase or make the down payment?
Thanks for sharing!
Hey there! I haven’t been super active here in some time… apologies for the late response. I received about 40k my first time around. My intention was to use the program to obtain cash for a down payment. However I found the process to convert to cash was difficult and not really doable in my view… I never did it.
Ultimately I use the cards for repairs and things related to the the upkeep and maintenance of my properties. I opted not to do the second round.