They dont source funding at all. They just take you to sites to apply for credit cards that you can do on your own and they charge you a ridiculous % of your credit limit. Its a scam.
It's a dishonest scam. I'm well rehearsed in lending as a real estate developer. I asked for a business loan and instead I got 12 credit card applications they did at their desks. I received 12 hard pulls on my credit bureau, hurting my score. I refused to take out more credit card debt, and they are attempting to extort $5k out of me. Stay away.
Response was fast. Mitch called to get the process started. Within days Isaac had the process going and was able to get us funding 2 days later. They were able to get us more funding than we were even looking for. As a start up they worked with our history and finances to get us the best options possible. The process was explained so that by the time we were funded we understood our payment terms and it was EASY! My absolute favorite part about what Fundwise did for us was that it will start to build our business credit which will allow us to start working away from using our personal credit to build our business. In a couple months they said that our payment history would be re-evaluated to get us bigger credit lines, larger loans and lower rates. I so very much so look forward to how this process is going to help us grow for our expanding future. Thanks Isaac!
Excellent customer service and client follow up - this is the sole reason for the 3/5 star appreciation. I declined their services because they offered me 90-120k total via their three methods of funding. 20-30k in 0% interest against line of credit (credit cards) and the remaining in term or revolving lines of credit - varying 6-12%. I can (and have been) opening credit cards like crazy myself, I've found ways to pull cash out of these cards with 0% APR - this means I have no use for this aspect of their service. The remaining 2 types of credit would ONLY be applicable if I was willing to pay such a high interest rate to fund business start up or expansion. Given my purpose of my inquiry this does not apply. My fiance and I both went from practically zero income (grad. school) to two 6 figure careers. Using their funding to "jump start" our future was not a wise choice - Would have considered it at ~2% which I didn't expect them to do. Don't be fooled by their "up to 250,000" with 0% for up to 15 months elevator pitch. Read about them, consider your other options and then think about it some more. As I mentioned, this may be a great option for a few, but not for the masses. Not sure how to open lines of credit, credit cards, or any other aspect of what was mentioned above? Goooooogle it.
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