Fund & Grow Financing

Creative Real Estate Financing
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Fund & Grow Financing

Justin SheleyBusiness Member
Investor · Rockford, IL · Member since 2016 · 94 posts · 220 votes

After listening to the Clayton Morris podcast (EP115 with Mike Banks) about the company Fund & Grow, I became intrigued with the idea of using business credit cards to buy rental properties using the BRRRR method. The whole concept seemed too good to be true, so I hopped on BiggerPockets to see what people were saying about Fund & Grow. I always find great content here, and more often than not I find the answer to my question before I even need to post and ask about it. However, with Fund & Grow, I didn't find much. (If anyone knows of a discussion about Fund & Grow that I didn't find please link me to it) There are a few discussions where people were considering using Fund & Grow to finance a deal, but none that I saw that went all the way through the process and used the funds to find a deal.

That being said, I decided to start this discussion post and share my experience with the company from day 1 till I refinance and hopefully complete the BRRRR method.

For anyone not familiar with Fund & Grow, they are a company started by Ari Page that helps you establish business lines of credit for the purpose of creating working capital for small businesses. In my case, I will be using the line of credit to buy properties in Rockford, IL and rehab them into rental properties.

Phase 1:

Currently I have enrolled with Fund & Grow and completed my initial consultation. This cost $3,000 for their service of negotiating and securing the business credit cards. I spent 1 hr on the phone with a very friendly consultant and discussed my plans for the business credit and established a sole proprietorship for both my wife and I. This allows the business lines of credit to not affect my personal credit score.  The first push for business credit will begin next week, and I should have access to an anticipated 60k by the following week. My wife is not currently receiving accounts yet until a more established credit history can be created for her.  We are currently lining up several refinancing options with banks in the area so that they are aware of what we intend to do. Currently we are being told that we can refinance the properties we buy with cash after 6 months. This is key for us, because we intend to buy and hold these properties and do not want to get stuck after the initial 12 months of 0% interest expires on our business credit cards.

Phase 2 is going to be actually receiving the cash into our account and making our cash purchase. I tried for brevity sake to not go into the entire Fund & Grow concept in my initial post, but if anyone has any questions, comments, or concerns I'd love to discuss them.

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Most Popular Reply

Drew Cameron
Lender · Peabody, MA · Member since 2015 · 82 posts · 49 votes
9y
I used a similar system to receive roughly $40,000 in credit cards at 0% for a 12 month period. The company I used took 10% upfront and then helped me liquidate everything so I had usable funds fairly quick. I was able to do a flip with the funding I received and pay back all the money before my interest free period ran out. It was expensive, but the flip more than covered everything and I was able to get in the game. I would do it all over again if I had to.
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  • Shadonna N.
    Developer · . · Member since 2014 · 520 posts · 162 votes
    7y
    Originally posted by @Diana Villalon:

    We are only the 5th month since we signed up. Round one for my business partner was just completed.  The process is a bit complex and time consuming. She only got $5300 in credit cards. I'm scheduled for late May but I hope is much more than that, as I already had over 60k in available credit on my personal cards. Let's see what they come up with. I'm not overly impressed but I'm going to give them a chance to change my mind. My credit score is already in the high 700s. 

     What was your business partner's profile that they only received 5300.  That just covered the fee.

    0Reply
  • Shadonna N.
    Developer · . · Member since 2014 · 520 posts · 162 votes
    7y
    Originally posted by @Daniel Rutledge:

    Im getting ready for a second round which was delayed because the company i used to assist in the inquiry removal failed to get anything removed. I had to wait for all inquiries to season before going for round 2.

    How long did it take for the inquiries to season.

    0Reply
  • Daniel Rutledge
    Anderson, SC · Member since 2016 · 91 posts · 40 votes
    7y
    I believe it was six months. Its been a while ago now. I never had any inquires removed. 

    Originally posted by @Shadonna N.:
    Originally posted by @Daniel Rutledge:

    Im getting ready for a second round which was delayed because the company i used to assist in the inquiry removal failed to get anything removed. I had to wait for all inquiries to season before going for round 2.

    How long did it take for the inquiries to season.

    0Reply
  • Ryan Salbedo
    Member since 2019 · 1 post · 3 votes
    7y

    Veronica Purdy from Fund&Grow helped me through the entire process within a matter of days. I was trying to apply for 0% interest business credit, but I needed to get my credit cards down to 35% utilization first. I worked with Veronica in order to find a loan for the pay downs. I gave her all the information and documents she needed. She called me the next day and within a few minutes, she was able to find a suitable bank to give me the loan. Very quick and easy process. The next day, I got the funds in my bank account and paid down my credit cards. Veronica knows what she’s doing and made this process very simple. Now onto getting the 0% interest business credit.

    3Reply
  • Tara Derenoncourt
    Austin, TX · Member since 2013 · 3 posts · 1 vote
    6y

    You can add me to the list of 1 post accounts. I don't comment often, if at all here on Bigger Pockets but I have to give a shout out to my account specialist Bianca Rivera at Fund & Grow. I like some others here was skeptical of Fund & Grow prior to signing up with them. A friend of mine told me about them. He mentioned a friend of his had been through the program and got somewhere around 200k after all his rounds with them. I was hestiate but told him I would do some research. At the time I had just been through 2 other Business Funding companies in which I paid high percentage fees for funding (15% and 12%)! Looking back at what I paid them..Crazy! So I did most of all my research about Fund & Grow right here on Bigger Pockets. I read the different case studies people posted and the page after pages of comments. After reading just about every comment about them I felt like I knew enough of what most peoples pros and cons were about F&G and was comfortable enough to go forward with them. I signed up with a partner and did the flat fee option. It took a while for me to begin because I needed to address my numerous inquiries from the other companies. I am happy to report I just finished my first round of financing and am pretty impressed. Bianca my negotiator was amazing.  She had a plan and followed through. Her communication was great. She was available by email and text everytime I had a question. She explained each step as we went through it.  I was able to get a little over 80k off this first round. I know people on here say why pay someone when you can do it yourself. Yes, I agree you can do it yourself but for me I wanted the guidance and the experience from people who do this everyday.  I didnt want to a bunch of inquires on my credit if I know there is no chance of me getting approved. Everyones situation varies on how much you can get approved for..credit score matters but other factors come into play like what exisiting and past relationships you had with each bank. All in all I am happy. I think the fee I paid to F&G was worth it for what I got..and thats only the 1st round!

    1Reply
  • Tereal Wilsonn
    Rental Property Investor · Oak Park, MI · Member since 2013 · 222 posts · 35 votes
    6y

    Recently sighed up with fund and grow , things started out a little bumpy , but once we got our communication issues straight . I was awarded 57k in business with brandon kroon with fund and grow  

    1Reply
  • John Daniels
    Member since 2019 · 22 posts · 9 votes
    6y

    I just discovered F&G on MorrisInvest and it seems interesting.  One thing I dont get is that after the first year subscription and they get you $75K(for example) of business credit then why do you need them for beyond the first year.  If you stop the subscription do they then hold the accounts hostage and close them since they hold a power of attorney?   Does their power of attorney have a expiration date?

    Good stuff!

    0Reply
  • Nyelle Johnson
    Philadelphia , PA · Member since 2018 · 37 posts · 7 votes
    6y

    Check this video for a strategy on cashing out on cc pretty much try to aim to get one card that gives u a 0% apr on cash advances cash advance and grasshopper balance to other cards only thing b prepared to pay the minimum balance on the other cards that will b tuning a high limit/maxed out I mean even if u have a personal card that offers cash advance it will work bc when u grasshopper the balance to the business cc it will restore your utilization and bring your score back up but don’t spend the money until the grasshopper clears just in case something goes wrong you’ll be able to just put the money back hope this helps

    https://youtu.be/FIhH4UDI0ko

    0Reply
  • Nadia JarrettPro Member
    Member since 2018 · 14 posts · 1 vote
    6y

    Im thinking of using fund & grow but Im still on the fence. For those who have done it. How long is your introductory APR on average?. I Just want to make sure I have enough time to renovate and refinance using BRRR before the introductory period runs out. I can then use the new equity to fund a portion of my next deal and rely less and less on the cards. Any advice is appreciated. Thank you!

    0Reply
  • Janice Brown
    Member since 2019 · 2 posts · 1 vote
    6y

    Donna and the team at Fund&Grow have been super efficient and professional with the entire process at helping me obtain additional credit for our business. It's been a great experience overall and I am looking forward to my next round! Thank you Fund&Grow –

    1Reply
  • Byron Dial
    Anderson, SC · Member since 2019 · 1 post · 2 votes
    6y

    You can add me to the 1 post accounts also. I mostly a lurker. It's not in my nature to sit and post on sites for all to see but Sabrina Ubele and John Madison deserve the praise. Sabrina helped my wife and it was a smooth transaction from start to finish in round one. My experience started off a little rocky but once John took over, it was smooth sailing.

    I had a hard time  figuring out how to pull money from the cards. So I also have to thank @Maurice Colbert who helped me understand how to wire into escrow. Worked like a champ. Closed on a triplex this week using that method.

    Another method is to use a convenience check on one card and then immediately balance transfer out using another card to save on fees.

    This is a game changer.

    2Reply
  • Maurice Colbert
    Rental Property Investor · Blacklick, OH · Member since 2015 · 111 posts · 80 votes
    6y

    @Bryon dial, way to go man,glad I was able to help you. 

    1Reply
  • Erica Risberg
    Member since 2019 · 1 post · 1 vote
    6y

    I had the opportunity to work with Bianca Rivera at Fund and Grow, and she worked tirelessly to get me the funding I needed. She was efficient, helpful, and a pleasure to work with! I highly recommend working with her!

    1Reply
  • Charnele Gadie
    Investor · GA · Member since 2019 · 5 posts · 1 vote
    6y

    Through working with Fund & Grow I was able to start my real estate business. Highly recommended if you ask me. 

    1Reply
  • Account Closed
    Islip, NY · Member since 2019 · 2 posts · 1 vote
    6y

    Fund & Grow got me $44,500 in my business credit cards in a matter of a couple of weeks. I will definitely be going back to them in 4-5 months for my second round. They helped me have a plan of how to build my credit as well so that I may maximize my business potential. Donna was very easily accessible and responsive and made the process super easy and straightforward. Thank you!

    1Reply
  • Avery Coleman
    Rental Property Investor · Atlanta, GA · Member since 2014 · 14 posts · 7 votes
    6y

    I'm also a client of Fund & Grow having just completed my 1st round of funding with them. It took me about 4-5 weeks from intake, to receipt of my cards and then to get my credit limits increased. Giovanni handled my file and was great at both caring for my file through the process and communicating his progress. I have yet to begin making use of the funds, so anyone working on multi-family deals, feel free to contact me!

    One item I'm struggling with now is the outfit they recommend to assist with removal of the hard inquiries does not work with residents in the state of Georgia. This would've been important to know upfront so I could've identified alternative solutions. Ultimately, I may handle this myself as Fund & Grow does provide you with a detailed, step-by-step accounting of how to do this on your own.

    Anyone on the fence with their product, you're more than welcome to contact me with any questions. I'm glad I decided to pull the trigger here.

    1Reply
  • Pavel Shemyakin
    Rental Property Investor · CA · Member since 2018 · 135 posts · 174 votes
    6y

    Oh boy! I do not envy the intern whose job it is to sit around all day creating fake BP accounts to promote F&G on this forum lmao!

    3Reply
  • Steve Kang
    Member since 2019 · 1 post · 1 vote
    6y

    great staff and company with honest values to help you get good personal and business LOC!!

    1Reply
  • THOMAS MARC HOY
    Member since 2019 · 1 post · 1 vote
    6y

    Thanks Ari ! You and Veronica have helped me immensely ! Cleaned up my credit, paid off the credit cards with a $7200 consolidation loan, and about to get funded !

    You guys have my admiration and support.

    Cheers !

    1Reply
  • Joey Sampaga
    Member since 2019 · 1 post · 1 vote
    6y

    Fund and Grow helped me and my business partner get over $175K in business credit cards to get started on our real estate investing business. And this was only the first round! Thanks, Brandon for being very detailed, attentive and communicative with us every step of the way! You made us feel comfortable and excited. I would highly recommend this service and if you can work with Brandon, even better!

    1Reply
  • Account Closed
    Rental Property Investor · Valley Stream NY · Member since 2019 · 51 posts · 10 votes
    6y

    OMG the "WORST", should have never listen to Clayton Morris. I applied with Fund & Grow and at first everything was going well until I received my EIN # (IRS Doc) and notice the name was incorrect on all the document, so I called in immediately and informed them about the name was incorrect and there response were " we can fix it once everything goes thru" so then I said ok they probably know what they are doing. I started receiving credit cards in the incorrect name so I called them back and told them that the name is incorrect and I would like to create an LLC for the EIN number and credit cards which was included with the service, there response were " once the first round of funding is complete we will correct everything" so I still had faith in them. Now in order to liquidate the funds that Fund and Grow received on my behalf I have to go thru a 3rd party company (Plastiq) which is referred by Fund and Grow, they now charge a percentage to fund the money on my behalf.

    So then I seen a property I was interested in and when I told the company how I was going to fund the transaction I was told they do not accept that because it would be consider a loan against a loan (debt to ratio), so basically the credit cards that Fund and Grow got for me in the incorrect name could not work in the real estate world. Fund and grow also stated they fix your credit after funding, but there's a catch to that also because you have to pay a 3rd party company to clear up the inquiries that was pull by Fund and Grow so there is nothing included in the price you pay with Fund and Grow. 

    So I went out on my own and got my own LLC with the correct name and credit cards link to my LLC because fund and grow couldn't get it right the first time, so basically I paid Fund & Grow for nothing. I called all the credit card company's to change the name and EIN number to the one I created and they stated that I would have to do a new application with the new EIN number which means running my credit again (mind you my credit score is 800 and above).

    Fund and Grow have a 60 day money back guarantee so of course I passed it because they kept giving me the run around, so when I inquire about a refund for legitimate reasons 

    1: Incorrect name (Can't use the funds if the names don't match), 

    2: Real Estate world wouldn't accept Plastiq as a form of payment, 

    3: Funds are not in an LLC like I requested,

    4: I had to clear up my own credit with all the bureaus, 

    5: I had to do everything on my own that they were paid to do, 

    they said "no refund" so I filled a smalls claim against Fund & Grow for my refund. STAY AWAY FROM CLAYTON MORRIS AND FUND & GROW......

    1Reply
  • Jason Alonso
    Member since 2019 · 1 post · 1 vote
    6y
    Originally posted by @Account Closed:

    OMG the "WORST", should have never listen to Clayton Morris. I applied with Fund & Grow and at first everything was going well until I received my EIN # (IRS Doc) and notice the name was incorrect on all the document, so I called in immediately and informed them about the name was incorrect and there response were " we can fix it once everything goes thru" so then I said ok they probably know what they are doing. I started receiving credit cards in the incorrect name so I called them back and told them that the name is incorrect and I would like to create an LLC for the EIN number and credit cards which was included with the service, there response were " once the first round of funding is complete we will correct everything" so I still had faith in them. Now in order to liquidate the funds that Fund and Grow received on my behalf I have to go thru a 3rd party company (Plastiq) which is referred by Fund and Grow, they now charge a percentage to fund the money on my behalf.

    So then I seen a property I was interested in and when I told the company how I was going to fund the transaction I was told they do not accept that because it would be consider a loan against a loan (debt to ratio), so basically the credit cards that Fund and Grow got for me in the incorrect name could not work in the real estate world. Fund and grow also stated they fix your credit after funding, but there's a catch to that also because you have to pay a 3rd party company to clear up the inquiries that was pull by Fund and Grow so there is nothing included in the price you pay with Fund and Grow. 

    So I went out on my own and got my own LLC with the correct name and credit cards link to my LLC because fund and grow couldn't get it right the first time, so basically I paid Fund & Grow for nothing. I called all the credit card company's to change the name and EIN number to the one I created and they stated that I would have to do a new application with the new EIN number which means running my credit again (mind you my credit score is 800 and above).

    Fund and Grow have a 60 day money back guarantee so of course I passed it because they kept giving me the run around, so when I inquire about a refund for legitimate reasons 

    1: Incorrect name (Can't use the funds if the names don't match), 

    2: Real Estate world wouldn't accept Plastiq as a form of payment, 

    3: Funds are not in an LLC like I requested,

    4: I had to clear up my own credit with all the bureaus, 

    5: I had to do everything on my own that they were paid to do, 

    they said "no refund" so I filled a smalls claim against Fund & Grow for my refund. STAY AWAY FROM CLAYTON MORRIS AND FUND & GROW......

    Hello Tony,

    I am sorry that you are not satisfied with the services you received, or the $69,000 in 0% interest business credit we, Fund and Grow, obtained for you. When we spoke on the phone, I remember you telling me that you were not able to use the funding for real estate because you told the buyer you were purchasing the property with a credit card. You also told me that you have used the credit in other ways. When reviewing your file again, I see that you signed up with us on 3/29/19, and then called in on 4/9/19, saying that the name you provided was no longer your name and you did a legal name change. All the documents that were submitted to us had your previous name on them, including your credit reports. As I explained on the phone, we would need the proper identification from you in order to change the name on your EIN document from the IRS and the name on your business credit accounts. You told us at that time that everything was fine and you understood the issue. Your account manager made it very clear that he would be able to change the names on the accounts if you would submit the proper documentation as stated above. Included in our membership, is the creation of an LLC, free of charge. All you would be responsible for is the state filing fees. We recommend to all our clients that they do not use a brand-new business entity to obtain funding due to the length of time the business has been established. We have had hundreds of clients express how they were able to use the funding we obtained on their behalf to purchase real estate. Also, during the sign up process and through the membership, it is made clear that we will provide you with the tools to remove any inquiry that results in business funding, OR you can work with our affiliate and have the professional credit repair team do it for you, which is an extra charge. As far as the new LLC you created, the banks you called are 100% correct when they told you that you cannot change the EIN under an existing business account. Therefore, we told you to send us your new identification documents so we can change everything for you, which you declined. I see that you applied for new business credit under your new LLC, as you mentioned above, however, you said you cannot use business credit to accomplish what you want with the business credit we obtained for you. I hope the new credit cards work out better than the ones we obtained you. As far as your reasons for refunding, we told you we would correct your name, you declined. We told you how to go about using Plastiq to purchase real estate and you did not listen to our recommendations. We explained to you that the funds would be set up under a sole proprietorship, which you agreed to. We gave you the option to work with our credit repair affiliate and gave you the tools to remove the inquiries. I am not sure what you did on your own, but we were the ones who obtained the credit for you and gave you all the tools needed to build on it. The refund policy is simple, "When a client receives service, in the form of credit gained or utilizing complimentary services, services will be considered rendered. If a client does not receive service as stated above, client can request refund and enroll again at a later time."

    We are more than willing to help you and continue your membership with Fund and Grow. 

    1Reply
  • Sherwin Cus
    Member since 2018 · 4 posts · 3 votes
    6y

    3500 upfront and i'm on my second round right now and i'm at 60,000 going for third round now

    1Reply
  • Brian Williams
    Member since 2019 · 1 post · 0 votes
    6y

    I just wanted to get my first post out of the way by sayin, wow that was a lot of reading! Thanks for those who went through their experiences in great detail.

    0Reply
  • Tom Fox
    Avondale, AZ · Member since 2016 · 1 post · 1 vote
    6y

    Just finished working with Veronica at Fund and Grow and the experience was great. She helped me consolidate some cards to free me up for the first round, which was perfect for my situation. She was attentive, knew the products, communicative, and fun and kind to interact with. So far, I recommend their service. Now, I just started with Brandon to work on the first round of credit building.

    1Reply
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