SeedFi No Longer Offers Borrow & Grow Personal Loans

SeedFi, an online lender that specializes in helping consumers build credit, no longer accepts new applications for its Borrow & Grow personal loans. The lender will continue to service existing loans.

SeedFi’s Borrow & Grow plan was a personal loan and credit-builder loan in one. The plan allowed borrowers to use part of the loan proceeds right away while the rest of the funds sat in a savings account that borrowers could access once the loan was paid in full.

It was an ideal option for fair- and bad-credit borrowers (with scores below 690) who needed to cover an emergency expense but wanted to build credit and savings at the same time.

Financial software company Intuit announced in December 2022 that it would acquire SeedFi. By January 2023, CEO Jim McGinley told NerdWallet in an email that SeedFi would no longer provide personal loans.

Alternatives to SeedFi’s Borrow & Grow personal loan

The Borrow & Grow plan was an uncommon offering, but you can still find a personal loan to…

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This article was written by Annie Millerbernd and originally published on