Service Limitations, Drawbacks, and Considerations

Service Limitations, Drawbacks, and Considerations

At The Funding Group, we are passionate about empowering entrepreneurs and individuals with the tools they need to seize opportunities and achieve their goals. Our services are best suited for clients who are confident in their ability to achieve a return on investment that far outweighs any associated fees, interest rates, or temporary reductions in credit score.

We are lifelong entrepreneurs who understand the challenges and rewards of this journey. To ensure you make an informed decision, please carefully review the following considerations about our services.

Credit Score Impact

  • Initial Quote: There is no initial credit inquiry to provide a preliminary quote.
  • Application Process: To proceed with loan or credit card applications, there will always be multiple credit inquiries, resulting in a temporary reduction of your credit score.
  • Score Reduction: Clients that move forward typically experience a 50-150 point reduction in their credit score. As long as debts are repaid on time and in full, credit scores generally recover and often exceed previous levels after repayment.
  • Important Reminder: If you are uncertain about your ability to repay debts on time and in full, this service may not be suitable for you. Do not proceed unless you are confident that the benefits, such as increased profits or an enhanced quality of life, far outweigh the temporary reduction in credit score and associated costs.

Personal Guarantees

  • All loans, lines of credit, and credit cards introduced through our service require a personal guarantee. This applies even to business products.
  • Debt Reporting:
    • Many business loans and credit cards do not report debt to your personal credit report as long as they are repaid on time and in full, allowing for a lower debt-to-income (DTI) ratio.
    • However, some business loans/cards may report to your personal credit report. Regardless, failure to repay will negatively affect your personal credit.
    • All personal loans/cards will report to your personal credit report.
  • Responsibility: By accepting funding, you assume full responsibility for repayment and any associated credit implications.

Credit Line vs. Credit Card

  • Credit Lines: These are more challenging to secure and represent less than 1% of the funding we provide.
  • Credit Cards: This is the primary funding option that is provided that doesn’t have a payment when there isn’t a balance.
    • If you require access to cash, credit cards are not recommended, as converting credit cards to cash can be complex and carries risks.
    • We are not responsible for facilitating or advising on turning credit cards into cash. If this is part of your plan, ensure you have a responsible, pre-determined strategy in place.

Additional Considerations

Financial Prudence

  • Only take on debt or payments that align with your financial capacity and long-term goals.
  • Before committing to new debt, create a conservative business plan that includes a detailed repayment schedule and cash flow analysis to ensure feasibility.

Prohibited Uses

  • We do not provide services to clients intending to use funds for:
    • Coaching programs
    • Cryptocurrency investments
    • Illegal activities

Practices to Avoid

Whether working with our company or any competitor, ensure you steer clear of the following:

  • Upfront Payments: Never pay money upfront for a promise of funding or an attempt to secure funding.
  • Cancellation Fees: Avoid any service that imposes cancellation fees.
  • Misrepresentation: Do not exaggerate or falsify information to increase funding amounts or approval chances.
  • Forced Commitments: You should never feel obligated to accept funding, debt, or credit that does not serve your best interests. Regardless of your stage in the process, you retain the right to change your mind.

Final Thoughts

Our mission is to help entrepreneurs achieve their goals responsibly and effectively. This service is not for everyone, and we value transparency in ensuring clients fully understand the potential risks and rewards. If you have any questions or concerns, please reach out to us directly for clarification before proceeding.