Unlocking Growth: Building Business Credit Like A Pro With Amanda Webster

Unlock the secrets to boosting your business’s financial potential. In this episode, Amanda Webster, COO of Fund&Grow, joins Derek Dombeck to discuss how establishing business credit can be a game-changer for small business owners. She shares her expertise on building business credit without impacting personal credit, the advantages of 0% interest rates, and how business credit can be a lifeline during tough times. Amanda emphasizes the importance of separating personal and business finances to protect both, and offers tips for entrepreneurs to leverage business credit for growth, protection, and rewards. Whether you’re just starting or looking to scale your business, this episode is packed with essential insights on credit management.

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Unlocking Growth: Building Business Credit Like A Pro With Amanda Webster

Meet Fund&Grow’s Amanda

We are talking about money. It’s something that everybody needs and something that everybody says that they don’t have enough of. We have Amanda Webster from Fund&Grow who will teach us how they build business credit and establish business credit lines. Before I bring on Amanda, I would like to welcome everybody if this is your first episode. Welcome back to everybody who is tuning in on every episode.

I encourage you to go to TheGenerationsOfWealth.com Check out everything that we have available there. We have resources for you. We have access to The Transformational Journey and Next Level Your Life books that I’m an author of. Get out there on Facebook. Join The Generations of Wealth Facebook page. Do everything you can to help us grow the show, the family, and the community. Give us all the likes, shares, and love. Tell everybody in the world about us. We appreciate it. With that let’s bring on our guests. I bring on Amanda Webster. Amanda, thank you so much for gracing us with your presence. Why don’t you let everybody know a little bit about yourself and also your company.

I’m so excited to be here. I like to identify myself as a mom of five first because I feel like that should be the most important thing every day, but I’m also married to a career military man. My household is always a fun scheduling show of a circus, but no. By day, I am the COO of a company called Fund&Grow. We specialize in funding for businesses. We have a very unique way that we do it with business credit in a creative financing type of way.

I come from a long line of operations. I’m an operator. That’s what I do. I’m a process and analytical person and I love developing SOPs, which makes most people want to fall asleep. I came from a long run, seventeen years in the legal industry, whether it was law firms or even in the financial legal world. I did that for seventeen years and came out of high school doing it.

I graduated high school with my associate, so I was a little bit further ahead than some of my other classmates and went right to work and never stopped. I never looked back and then came into this company in 2020 and revamped the whole operation stuff that was going on here and perfected that with my partner in crime in the support of the owner Ari, who is an amazing person to be able to be my mentor and help me in support me through this journey. That’s me in a nutshell.

That’s great in a nutshell and it’s a great introduction. You are piquing my interest, and the whole purpose of our discussion is to talk about business credit. Let’s start at the beginning. What’s the difference between business credit and personal credit?

Business Credit Vs. Personal Credit

There’s a huge wall that should be between the two because a lot of misinformation gets out there. One of the number one things I see people do wrong when they start their entrepreneurial journey is they don’t think they have other options. They use their personal credit. Personal credit has a lot of rules within it. Your credit score is one piece of it and also it’s always different on all the different platforms. You never know what your score is anyway but also what makes up the credit score and what you are penalized for. Knowing that ahead of time helps you be a good consumer and keep that score higher.

As an example, for personal credit score, you are penalized for using the credit that’s been awarded to you. If you have a $10,000 card and you charge $9,500 on it, you now have a lower credit score for using the credit you were given. These rules are very weird. Also, there’s a whole timing of not knowing when your cards report to things or your accounts report to their credit bureaus. On the opposite side, a business credit is going to be on your EIN. It’s like having a credit score but on your EIN on your business. It has completely normal rules, common sense rules.

You get a higher credit score for using your credit, all the way up to the limits, paying them off, and being responsible. They don’t penalize you for hardly anything. The only thing you get penalized for in the business credit world is if you default, which is an obvious one that people know you should be penalized for, or if you don’t use the credit.

That’s one of the weird ones. If you don’t use the credit, it can affect your business a little bit differently. In the personal world, the only offset of not using the credit you are giving is if they shut the account then you have lost all the history of that account, and that can make your score lower. There are a lot of different rules that go into it, but the most important thing is business credit is done properly with the right lenders because there are some that like to cross over. It’s all on your EIN.

It’s not showing up on your personal credit. It’s not hindering your personal credit and there are a ton of things that are beneficial in the business world to be building that business credit and keep going. You should be using personal for personal and business for business. That’s the hard line you should have and your CPA, your CFO, or whoever does your financials will love you for doing that because it’s going to make both of them so much more healthy.

I know that most people cross that line over and over again. This isn’t an asset protection discussion, but we need to touch on the fact that if you are paying for things incorrectly from personal to business and vice versa, it can pierce the corporate shield and people can prove in front of a court that you aren’t operating properly and many people that get their asset protection knowledge from YouTube University, may be very sad to find out in the future that they didn’t have what they thought they had until it’s too late.

Co-mingling is a problem in all different ways and a lot of people get their education from an attorney, a CPA, or a CFO who has the right credentials. Get the information from the people who are experts in that world. You open that door. Once you do that, it’s very hard to undo it if you continue. You have to make sure that you are very clean in it, in the same way that using it correctly being responsible, and being able to pay back your debts is a whole different conversation, but being able to separate it is going to protect both sides. Protect your personal, protect your business, and all the things. Even if you have trust, there are still different things you have to be careful of in that world. Don’t let me educate you because I’m not an attorney or a CPA. Go to somebody who has that right area, but it can cross over.

Establishing Business Credit

We got an idea or a glimpse at business credit versus consumer credit. You mentioned the EIN. If you have a brand new company that established an EIN versus a company that’s been around for ten years. What’s the difference? Does Dun & Bradstreet, which is a credit reporting agency for businesses, factor into this?

Corporate credit, which is what I put Dun & Bradstreet in, so those vendor trade lines. That’s what I call corporate credit. YouTube University, TikTok, reels, or wherever you are getting your information, sometimes there’s a little bit of misinformation in all of it. I call that corporate credit. It doesn’t matter. It is part of business credit.

Building a PAYDEX score is essential for your business for long-term funding. Business credit lines will require a personal guarantee in the early stages. Once you build to a level, you will no longer need the personal guarantee. That’s the difference in a super established seasoned business. You have more doors that open and fewer personal guarantee requirements until you even look at your credit score.

It’s one of those things where business credit does have a little merge into personal only because they will leverage your history to be able to get the approvals on the business side until you’ve established yourself with the proper business credit. Dun & Bradstreet is essential. You need to get set up. You need to be using those tier-one accounts to get to those tier-two accounts. If you don’t know what I’m talking about, then it’s even more essential that you learn what Dun & Bradstreet is and how you build a PAYDEX score because that’s another area of capital. These are net accounts. There’s no interest in these types of things. They are net accounts.

You are going to Amazon and you have $10,000 in vendor credit. You can use all $10,000. Again, not hurting you. It will never be on your personal credit. There’s not even a personal guarantee requirement for the vendor side. The difference is you have to build. You are not going to start with $10,000 over there. Super essential. It’s one of the key factors to get to non-PG high levels of business financial accounts that are available.

Business credit on the major lender side like your Chase, Wells Fargo, and AmEx, the things that the Fund&Grow specializes in. That’s going to require a personal guarantee again until you are at a certain point. The amount of funding available is going to have a couple of different layers. The seasoning of your business is a huge piece. The setup of your business is a huge piece because different industries are considered risky for even business credit lending, your personal credit is going to be a piece of that and how you utilize it and not just your score. I don’t just look at a score to know if you are going to do well in this world.

Knowing the right strategy is super essential for this type of funding and then leveraging the relationships you have. Business is all about relationships in every aspect of what you do. Business lending is the same way. If you have relationships with lenders, those are the ones you are going to want to go to for business credit. They are going to lend to you a lot easier because they are used to your spending. They are used to your history and they trust you at that point and you can get a lot more sometimes with those relationships that are already existing, which is where established businesses have a little upper hand on that side.

What interest rates are we talking about when you establish business credit early on with a newer business versus once you are established?

A brand new business can get business funding. We do that all the time. It’s in our area that it’s a niche area that we specialize in helping, but you are going to be sometimes lower than your more seasoned people, but the interest rate is going to vary on your profile. It’s going to vary on the business credit side. It’s going to vary anywhere from around 12%. It’s probably the low average but it can go like a personal credit card.

It can go up to 25%. Personal credit cards are getting in the 30%. It can go higher but that’s going to be based on the profile. The more seasoned, the better profile, the better business setup you have the lower potential for that to be. Everything is based on what you have going on in your business, your personal, and then your relationships.

When we look at that, you know going in. When you apply for these types of offers, you know exactly what you are getting and do the research. We do a lot of research for our clients that they don’t have to but if you are doing it on your own, do the research. Make sure you are double-checking things. Check for annual fees, for any additional costs that are built into these types of funding because sometimes they do sneak in there.

There are some people at that play and this is on the personal side. I’m not sure if this will transfer over. They apply for credit cards. The interest rates start at 0% for a period of time, and then it goes up after that. Are those possibilities on the business credit side?

0% Interest Rate

That’s all we do. We only apply for offers that have a 0% intro side. I don’t like to highlight it as much because you eventually are going to have interest, but on the front side, you are going to have a 0% offer. The average is 12 to 15, or 18 months, somewhere in that range. We do get offers occasionally that will go 22 to 24 months. That’s not all the time. I’m not seeing them as much as for the moment. It’s low as six-month offers are out there.

You know all that going in. When we are doing it, that’s all we do. We are only going to apply for 0% offers unless the client is specifically looking for a certain card, for a prestigious card, or one that has these goods like your AmEx Platinum. That’s a card that people want because of the perks that come with it. It doesn’t have all the same mechanisms that the regular business blue AmEx.

We only target 0% offers and we have hundreds available to us because I have one employee. That’s all they do search for these offers and make sure that we have the most competitive and the best offers on the table. We even leverage multiple offers for the same lender to be able to merge and extend zero percent. It’s one of the things that we have learned over the years to play the game. Zero percent, if they are out there, you should never apply for a card that has an immediate interest rate. You should always try to find those 0% offers both personal and business. There’s probably more available on the business side than there is on the personal.

What if people have a weak credit score? Is there any opportunity to get 0% interest business credit?

It depends on the why like, “Why is it weak?” It’s a little bit harder of a question to answer on a broad scale. If you come in then the requirement for business credit is going to be a 700. There’s a little variance, so we say 680. Six hundred eighty or above is what we are looking for to be ready for funding. Let’s say you have a 640. That does not mean that you can’t find those credit points pretty easily. A lot of it is intricately understanding your personal credit and what’s affecting it the most.

When we look at prequels, we are not looking at your FICO score. That doesn’t mean anything to me because when I need to look at a very intricate piece of information. When we do soft pulls on clients, we are looking at raw data. Raw data is coming into our system and we are interpreting it in our way. The things that we know are important to the lenders that we work with.

Our pre-call is a very custom one but we are looking at things as an example. Some people can have an 850 credit score which is like the holy grail. It’s so amazing, but they have 6 new accounts in the last 24 months. Chase is going to deny them and there’s no way of getting around it because they have a 524 rule. If you don’t know that going in, you go apply to it. It’s a wasted application. It’s a wasted inquiry on your personal credit because again, there is a personal guarantee they are going to look at your credit, so be very careful.

There are companies out there that apply for fifteen cards at one time. That is going to detrimentally affect your credit. That is not what you should be doing with business credit. There is an art to credit card stacking that we do, but within the means that makes sense because our goal is to improve your personal credit positioning, not make it worse. Understanding all of those pieces is how it goes.

There’s no magic number. I always tell people. If you are in the 500s, you probably have something big sitting on the report. If you don’t know what that is, how can you fix it? I tell people, “If you are seeing your credit score and it says that and you can’t figure out why, you need to call somebody who knows what they are doing.” We do free consultations so that people can understand where they are at before they ever pay us.

Understanding where you are at and how to get out of it. We never turn anyone away. We are always saying, “You can’t sign up now, but here’s what you need to do. You can do it on your own. You can go to a credit repair company or credit restoration company and they can help you but also have patience because credit repair takes time.”

If you are in the 500s, there’s something major. You either have a huge charge off that’s sitting there. You have large medical collection accounts sitting there. You have a bankruptcy. Something is going on that’s causing that big issue and then the reverse is a brand new person. You don’t have any credit. Weirdly enough, there are people well into their adult lives who’ve never established credit because they always thought cash was a king or they were stay-at-home parents and never needed the credit. The other spouse always holds it, and then a life event happens and it changes.

We consult for free for people who need to build credit in general. It’s understanding what’s going on there because you could have one authorized user account and show that you have a 720 credit score, but it’s a fake score. It’s not real because it’s not your credit and it’s not going to work. It’s more about the specific details within the credit that matters. I always say we can build a funding plan for anybody. You just might have to have some patience and do a little work ahead of time.

I have never been known for my patience. What about people who have been through bankruptcy or foreclosures or things like that in the past and now their credit scores are up? Is there a certain time frame that you look at, a certain number of years or months of post-foreclosure?

Bankruptcy foreclosure I would look at almost the same because there are similarities of what it did to your credit. There are a lot of people that from 2010 to 2011 had foreclosures. That’s not uncommon for us to see because 2008 happened and it took years for all that to come out. It needs to not show in the report any longer. It needs to be off the report, which is usually where most people are at that had a lot of that major stuff back then.

Does it automatically fall off after ten years?

Yes, so it will fall off, but here’s the key. It will fall off the report, but we are still going to ask you the question because it depends on who you burned in that process. If your mortgage was with Bank of America, they are not that forgiving. Even though it’s on the report any longer, it’s in their system. They are going to see and know it. It’s about rebuilding relationships.

If you had a foreclosure with a major lender or you did a bankruptcy and you charged off some of the debt from a major lender, it’s what you do post-bankruptcy that matters. The score itself matters but only to a certain extent. Did you rebuild the relationship? A lot of people didn’t know they should or didn’t know how. I always tell clients, “If you had a detrimental relationship with one of the major lenders, see if they will let you open a secured card.”

Go open a secured account and try to rebuild or that’s one you have to avoid. That’s part of our process and making sure the strategy is correct by asking those difficult questions. You want to make sure that you are looking at all those pieces because there are hidden things in the background that we can’t even see having the access we have because it’s been eleven years and it’s no longer showing up.

Advantages And Disadvantages

There are advantages to having business credits over traditional funding options, but we like to talk about both sides of the coin. The 0% introductory rate expires and then all of a sudden now you have 12%, 15%, or 20%. What are the advantages and what are the disadvantages?

One thing about business credit is it should never be a mechanism for long-term debt holding. If you are doing it to replace something that’s a long-term need, it’s not going to work for you. That cost of capital is going to be higher. It’s for temporary housing purposes. For someone like Fund&Grow, we use it like a charge account where we are racking it up for a month and then we are paying it off when the statement drops because we are using it for marketing and things that are generating revenue.

People in the real estate world, if they are planning on refinancing anyway, sometimes will use business credit to close on a property, so it looks like cash because we have a whole process on how you can do that. When you do that, then they know they are going to rehab and then refinance because refinancing is easier if you already own the home.

It’s temporary. It should be something you are using for ROI that can happen quickly enough to offset or before interest hits. I’m not naive. Most people can’t return something in 30 days, meaning no return on the investment. If it takes 60 or 90 days, you have to factor in that cost of capital. What does that look like and how are you offsetting that through what you are using it for?

There is a strategy and then additionally. There’s an entire world of points and rewards that you should be aware of. I can tell you that every quarter, we receive cash-back checks that go into our business account of $10,000 to $15,000 from what we are using. I look at it as free money because we very rarely pay interest because we are using charges and now we are getting paid back by using the accounts that we would have spent anyway.

We would have spent it out of our business account either way and now I’m able to offset any potential interest I may have had for a minute if you have a bad month or something by the rewards that I’m getting from it. I use that philosophy in my personal life as well because there’s a whole point game on the personal side. The CEO has traveled across all different places for free with the points and rewards that come in. That’s a big piece of it. If you do need to hold it for a minute, make sure you are using cards that are going to give you a return for using the money that offset that capital cost.

On a personal side, a lot of our airline miles and all that stuff, we utilize cards that are going to build onto Delta and other places because we are spending the money regardless, but it takes discipline and budgeting to do that. We are hoping that our audience is entrepreneurial but also business savvy enough to be able to budget, but life happens and sometimes this can be the crutch that can get you by for a little bit if you have to.

Most of us entrepreneurs have peaks and valleys. We don’t have a nice steady Eddy type of business. That’s not in our nature and if we do, we go screw it up somehow and take on something more to get stressed out. I would also say that the business credit, the way you are describing it, and if it’s used properly compared to using a hard money lender in the real estate world is equal to or less expensive, and again has to be used properly. Are there specific Industries or types of businesses that are easier to establish credit in?

Industries

I can tell you there are two industries that we can’t fund. That’s where I usually like to start to make sure I’m very clear and that’s my two Cs. I can’t fund a cannabis direct or a crypto direct. Crypto more because you can’t use the funding in anything that you are doing in the crypto world. I cannot fund those at all. I’m very clear about that. I have had some people who have more than one business, and one of them was in cannabis. I couldn’t help that business at all.

We have found a way to creatively fund pretty much agnostic across the board. I have not had any issues with it. Weirdly enough, I see more success with service space industries than I do with products which is a little bit bizarre because the business credit world is used to service. They are used to that, and then we are very successful in the real estate industry because we have taken a majority of our time here since 2007 and have been helping entrepreneurs in the real estate sector in all different areas of that sector. We have fine-tuned and crafted our type of funding for that world because of the limitations.

I also tell people, “We may not be the only thing you do. You should have whatever capital you can get that’s not going to break the bank on the cost of capital at your disposal.” I’m not saying that we are the only option. I think that we are sometimes the only option without giving up equity and the cost of hard money can get a little bit pricey. I know a lot of those people and they are great, and sometimes you need both.

I have people who have $250,000 in business credit. It isn’t going to help them because they are rehabbing high-end homes, so they need the hard money side to be able to purchase the property, but then they use the business credit to rehab it. Sometimes it’s a supplement or it’s part of the toolkit, but you should always look at every option because capital is the number one thing that fails a business. Not having it is what will fail you.

This is the type of credit that you don’t have to use if you don’t need it. It’s there. I will say like your personal credit, “Use it every once in a while so it doesn’t get shut down,” but use it for your gas to drive to whatever you are doing or use it for your office expenses if you have an Amazon account or whatever. It’s sometimes a supplement but it’s a huge area of capital that you shouldn’t discount. Just make sure you plan accordingly.

Working With Small Businesses

You mentioned $250,000. What do you see the majority of small business owners coming in and establishing early on with a decent credit score and a decent business first get to work?

Our average for the first round is big because we deal with so many different profiles. Anywhere from $30,000 to $100,000 in that first round. That first round, if you are ready to go, we can get you within five business days. It’s pretty quick. We can get you the applications. Our goal for everyone is to get them to $250,000. I can’t always hit my target because I’m dealing with some people who have some blemishes and things going on.

The average that’s exiting is at least getting around $100,000 or more, $150,000. We are very transparent. We are telling them, “These blemishes are going to limit what we can get you. The fact that you had a bankruptcy with Chase limits that and Chase is one of the heavy hitters. The same thing with Bank of America or American Express.” We are very open to that but our goal is to get everyone on that $250,000 and then we also are giving them the tools to build that Dun & Bradstreet PAYDEX vendor’s side. Our goal is for everyone to get to $100,000 during the twelve-month process that we are working with them.

You work with them for twelve months. Is it a flat fee service? Is it based on how much you helped them establish their credit? What does that look like?

The one thing that probably sets us apart from anyone else in our industry is we have a combo. It’s a done for you mixed with a done with you. We are doing everything we legally can for you, and then we are coaching and educating you and doing with you the remainder of it for those twelve months. We charge a flat fee. We did not charge you anything on the backside. We do not charge you points.

If you get $200,000, you are paying the same as if I get you $300,000. Our goal is to get you as much as possible. Our flat fee is normally right under $4,000 but for people like you when we have events that we do and things that we come on for, we offer a $500 discount to that. It ends up being 34.97. It’s a flat fee. We do have payment plans but our goal is to get you as much funding as we can in those twelve months. We also offer if anybody does have that lean profile where their personal needs a little bit of extra credit. They don’t have enough. We will give them an eighteen-month membership for the same price and will do the building on the personal with them on the front side. They have to go through a six-month process and then start business credit from there.

We offer that because our goal is to get everybody to business credit. That is what we are here for, and then we do have a six-day money-back guarantee in case someone signs up and we can’t help. We are going to be very transparent and say, “You have a 520 credit score. You got a lot of work to do. We are going to give you your money back. Go work on it and come back when you are ready.”

You told me that you would do a free consultation call. Anybody who wants to go to TheGenerationsOfWealth.com/credit will be able to get linked right over to Amanda and her team. At least go have that free consultation call and look into this for me personally, and most people who have been reading this show for a while know my backstory. I did establish business credit in the mid-2000s, but then also went down with the ship when everything crumbled in the late 2000s.

Since then, I and my wife have re-established our personal credit and everything else, but I still don’t have established business credit lines in the traditional sense that you are proposing. It is something that I do need to start taking a look at as well. Most of us get into a position where we get used to what we know. I will be honest with you and everybody tuning in, I don’t use institutional lenders for anything when it comes to real estate investing or my business.

That’s not to say I won’t. It’s just that I haven’t had to. Having this stuff established so that it’s there and ready to go and you piqued my interest on a few things too. We use the points programs and things on the personal credit side and take advantage of them. I’m not thinking about the business credit side of that and the perks because it’s one of those out-of-sight and out-of-mind things, which is why I love hosting this show. It’s so self-serving for me and yet helpful to everybody else tuning in.

It’s true. I will tell you the biggest bonus of that. I will use AmEx because they are my favorite. I love the AmEx cards that I have. The beautiful thing about the points is it’s all combined because there is a personal guarantee. You are all in one app. You are all looking at everything and you can separate it but then benefit on both sides.

It’s not the only thing but it’s a huge offset so that if you do have cost to capital, if you do have to have a little bit of Interest or pay the small fee to pull money off the card type thing, that’s the benefit of doing it. On the other side, it’s my golden rule and personal. I don’t use my debit card for anything. I don’t even know that I had it at the time because it’s connected to my cash and that’s a scary thing. It’s the same aspect in business.

A lot of business owners are using their business debit cards tied to their operating accounts for their purchases. It’s the same theory. Why are you doing that? Why are you connecting those purchases to your cashflow? If somebody gets hold of that number and takes $10,000 out of your business account, it is not an easy process to get that back.

Do the same rule. Everyone is familiar with the personal side, but for some reason, they don’t have that aha moment of like, “I’m doing the same thing to my business account and I have way more money in that account sometimes.” It’s also protecting that and being able to keep your cash safer, that is the best way I can say it, for money you are already using. You are using it anyway and you can pay it off every month.

On the business side, you can pay it as soon as you get it. You charge $10,000 for some purchase or book some big event and then pay it out of your business card over to your AmEx. That’s not going to hurt your business score or anything. On the personal, some rules if you don’t let it hit the statement you don’t get credit on the personal credit score. For that, you need to let it hit the statement and then pay it, business doesn’t have that.

We do weekly payments on ours. The CFO goes in every week and pays the cards off every week with whatever’s in there, and that way we are getting the points. We are still paying them off and if we have a questionable month and it rolls into the next one, it’s not a big deal. It’s a little bit of interest, but we are offsetting it with the points and stuff we are doing. There’s a lot of different pieces to it. Get yourself a VA maybe to keep track of all of it.

That’s not a bad idea, honestly, because this is what probably holds back most small business owners who don’t have a staff or have limited staff. It’s one more thing to think about and I will mention my wife who does our bookkeeping for our companies because we both have a little PTSD from 2007. You start looking at them saying, “What if something like that happened again?” We don’t want to have all of these business lines established where the 0% interest rate period runs out and now you have got these big payments.

On the flip side of that and the pro argument for having it is that it could have saved a lot of people’s asses when COVID hit. If you would have had business credit established and your tenants weren’t paying the rent, or fill in the blank with whatever happened to you and many people went down during COVID because they didn’t have anything established.

We had a huge peak because we became one of the only options for those businesses. COVID became crazy here because we couldn’t staff fast enough, and we did it. We were able to accomplish it. We were able to get through that wave and helped as many people as we possibly could, but if you wait until you need it, it’s not there. Some of them are the process that it took to get it and get enough to make it make sense was too late. I’m not trying to hard pitch or hard close anybody, but it’s always a thing of you should never lose a deal because you didn’t have the capital. You have to establish it first and have it ready.

We were running a co-owned hard money lending company up until the first of 2024, and when COVID hit all the national hard money lenders sold their paper to Wall Street and the hedge funds couldn’t sell their paper. Our applications went up by 400%. It was the same thing. People did not establish additional options for funding, in our case, hard money funding. They always use the same one but that one option went away. It was great for us. We could cherry-pick. We got the best loans that we wanted but it was not fun for us because we had to turn down a lot of people. We didn’t have enough funding to go around either. All this is very valid and it does not matter what business you are in. This is very important for every business owner out there.

They don’t want to use it. That’s our job. That’s what we have spent seventeen years figuring out and honing in. Learn from our mistakes because we have already made them.

Me too. That’s what part of the show was all about. We teach from our experience and we bring on guests that have experiences that we can teach from as well. Amanda, I appreciate your time and your knowledge. I do like to ask the one final question, “What’s one question I should have asked you that I didn’t?” It does not have to be related to Fund&Grow or business credit. It could be about anything.

What Stops People From Growing

What is the one thing that stops people from growing? I’m not even going to say capital because that’s an obvious answer. The one thing that typically stops an entrepreneur from growing is letting go and hiring the first person to help them. That’s something I keep seeing on repeat. I go to a lot of events and do a lot of things and I see an entrepreneur wants to stay a solopreneur because they can’t let go of it. That’s something that everybody who’s tuning in should think about, If you are the only person or if you only have one staff, as an entrepreneur, you should make a list, and the top three things that you are good at are the only three things you should do. Everything else you should outsource in some capacity because it’s the only way you are going to grow.

That is a fact and I was that solopreneur for so long who did not want to have staff, and now I cringe every time they want a day off. As my staff is tuning in to this and editing this, a very well-deserved day off. It’s a fact. What makes every single person on Earth equal is we only have 24 hours in a day, and there’s only so much you can do. I appreciate it.

Everybody, go to TheGenerationsOfWealth.com/credit. You can get linked over to Fund&Grow and get a free consultation call. Look into this. If you do it on your own, great, but if you are looking for the people who have figured this out. I didn’t meet Amanda but I met other representatives of Fund&Grow several years ago long before I had a show. At that time, I was very impressed. I’m glad that you came on the show and thank you very much.

Thank you for having me. It’s been great.

We will wrap this one up the same way I wrap up every show. Please go out there, like this, share this, spread the word, and help us grow The Generations of Wealth family. Jump on Facebook. Join The Generations of Weath Facebook group. Anything you need can be found at TheGenerationsOfWealth.com including our resources tab. If you want to get a free copy of my books, you can do that. Until the next show, go out and live your vision. Love your life. See you.

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About Amanda Webster

Amanda Webster has been a key player in the success story of Fund&Grow since joining the team in 2020.

With extensive knowledge of the legal system, over two decades of management experience, and unwavering dedication to helping small businesses succeed, she is an invaluable asset to the team and our clients.

As Chief Operating Officer, Amanda works closely with all departments to stay ahead of changing industry trends and ensure each client receives the most funding possible at the best terms when looking to launch or grow their operation.

With a passion for sharing her immense knowledge, Amanda Webster has set a trajectory with Fund&Grow to empower countless entrepreneurs, offering the tools and support needed to take their businesses to the next level.