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SeedFi Borrow & Grow Plan review (no longer available)

Now part of Intuit, SeedFi’s products are unavailable — but there are alternatives to consider.

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Since SeedFi is no longer an option, compare these other payday loan alternatives that could also help you build credit.

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SeedFi acquired by Intuit in 2022

Software company Intuit acquired SeedFi in December 2022. The Intuit platform includes very recognizable products and sites, such as Turbo Tax and Credit Karma.
SeedFi had already been partnering with Credit Karma long before the official acquisition. It plans to use SeedFi’s technology to improve its credit builder product. But there are no plans to launch a version of the SeedFi Borrow & Grow loan.

SeedFi Borrow & Grow Plan rates, fees and terms

SeedFi Borrow & Grow Plan rates ranged from 11.59% to 29.99% APR. The only fee SeedFi charged was a late fee of up to $15 — which SeedFi deposited into your savings account. Typically you had between 8 and 44 months to repay the loan.
With this plan you’d get $300 to $4,000 up front and have $650 to $4,000 deposited into a savings account. Overall, your loan balance could have ranged from $1,200 to $7,000 with the max combination of cash and savings.
Most borrowers had payments that ranged from $50 to $100 every two weeks.


  • Gave you a loan and started an emergency fund
  • Could have improved credit with on-time payments
  • APRs comparable to personal loans for good credit


  • Funding took a few days
  • Only received portion loan amount upfront

Was SeedFi legit?

SeedFi was a legitimate lender that helped borrowers build credit history and savings. It was a licensed lender and debt collection agency in states that required it. And it was more transparent than similar lenders about the details you need to know to make an informed decision — such as costs and terms.
It connected with your bank account using Plaid, a popular third-party service that Venmo, American Express and Coinbase use to safely link accounts. And SeedFi’s privacy policy is located at the bottom of every page.
As of 2023, there is limited information about how SeedFi’s Borrow & Grow product used to work. It’s website only offers an FAQ section, contact information and privacy policy.

SeedFi reviews and complaints

BBB accredited No
BBB rating NR
Trustpilot Score 4.8 out of 5 stars, based on 829 customer reviews
Customer reviews verified as of 14 October 2021

SeedFi gets mostly positive reviews on Trustpilot, though it doesn’t have any reviews yet on the Better Business Bureau website. Reviewers mostly highlight how easy it is to use SeedFi and the quality of customer service. But some complaints highlight that only a limited amount of funds are immediately available.

Eligibility requirements

You had to meet the following criteria at a minimum to qualify for the SeedFi Borrow & Grow Plan.

  • At least $10,000 in annual take-home income
  • Active bank account
  • Social Security number or Individual Taxpayer Identification number
  • Over 18 years old
  • Phone that receives text messages
  • Resident of eligible state

How to apply

When this product was available, you could apply for the SeedFi Borrow & Grow plan by filling out a quick prequalification form on the SeedFi website. If you prequalified, SeedFi would give you several offers based on the information you provided. After you chose the offer that best fits your needs, you would follow the instructions to verify your information.
Before approving the loan, SeedFi required you to speak with a member of its team in person to make sure you understand the terms and set up the bank transfer. Checking your rates didn’t affect your credit, but SeedFi did a hard credit pull if you decided to go through with the loan.

SeedFi locations

SeedFi didn’t serve residents of the following states:

  • Colorado
  • Connecticut
  • Hawaii
  • Idaho
  • Iowa
  • Maine
  • Massachusetts
  • Minnesota
  • Nevada
  • New Hampshire
  • New Mexico
  • North Dakota
  • Oklahoma
  • Rhode Island
  • South Dakota
  • Vermont
  • Wyoming

Payment options

SeedFi charged payments based on when you receive your paycheck. But you had several options when it comes to how you pay.

  • Autopay automatically debits your bank account when it’s due — and you can turn it off as soon as the day before a scheduled payment.
  • Debit card payments are the easiest way to make an instant payment if you’re down to the last minute.
  • Bank account transfers take up to two days to process but are a good option for accounts that don’t come with a debit card.
  • Payment by check takes the longest, but can be mailed to SeedFi at 548 Market St PMB 33447 San Francisco, CA 94104-5401.

SeedFi generally processed payments the same day it receives them.
Compare cash advance apps to learn about more SeedFi alternatives available to borrowers with bad or no credit.

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