Frequently Asked Questions

 
 
 
 

Course Questions

Common Questions

Who is GRP Funding (“GRP”)?


GRP was founded in 2008 and provides working capital to small businesses in all 50 states. We’ve worked with over 15,000+ customers and growing! We’re located in Springfield, Massachusetts and maintain an A+ rating from the BBB.




Are you a direct financing Company?


GRP processes, underwrites and provides funding directly to its small business Customers. When you’re working with GRP, you’re working with the financing source. We strive to make the process simple, fast and convenient in a transparent way.




What is the difference between GRP and a bank?


GRP requires minimal paperwork and typically provides financing in as little as the next business day after final approval. Banks require substantial documentation and can easily take 60-90 days to approve financing. Also, while GRPs financing terms do not require a collateral pledge, banks typically require some sort of personal or business collateral for their financing.




How can I use my funds?


The capital we provide is intended for business purposes. However, there are no business use restrictions. Unlike a traditional bank, you are free to decide where the capital is needed most.





Applying & Repayment Questions

How much funding can I obtain through GRP?


Depending on the working capital program you select, you can receive from $5,000 up to $500,000.




Will it cost me anything to see if I qualify?


There are no hidden fees. We are happy to present you with offer options at no cost and no obligation to move forward.




If I Apply, will my credit score be affected?


During the prequalification process, GRP only performs a “soft pull” on the business owners credit history. We incorporate this information along with numerous business attributes to aide us in generating offer options for you to consider. Soft pulls do not affect your credit score. If you elect to move forward with one of GRPs financing programs, only then would GRP perform a “Hard Pull” on your credit history which may affect your credit score.




How long does it take to see if I qualify and receive funds?


Once we have a complete application, you can be approved in a few hours. After final approval, we typically deposit funds the next business day.*




Is my business eligible?


We serve over 500+ industry types, so chances are we have a program for you. Our customers include retailers, restaurants, health care professionals, auto parts, repair shops, wholesale and service providers, and so many more. Minimally, your business has been open at least 12 months and generates at least $150,000 in total annual revenue. Contact us at info@grpfunding.com or at (877) 571-7999 and a GRP representative can help determine your business’s eligibility.




Can I pay off my outstanding balance early?


You can always repay your outstanding balance without incurring any early pre-payment penalties or fees.




How can I apply?


There are several ways to apply. You can either get started by filling out our 1-Minute Application, or you can call us at (877) 571-7999 and a funding specialist will be available to help you get the process started.





General FAQ

What is ISA (Income sharing agreement)?


With ISA, you can enroll in our course by paying absolutely nothing but once you are placed, you agrees to pay us back 15% of monthly salary per month for 3 years, only in the months you are earning an annual package of 6LPA. Also, if you do not get a job of 6LPA within 1 years of completing the course, the ISA expires. It is capped at 3Lakhs. If you are fired or leave your first job within 3 months of joining the payment will get paused until you get a new job. If you complete 3 months in your first job with min guaranteed ctc, you have to pay the entire amount irrespective of your employment status after that.




If I get placed without the help of Newton School placement cell, am I still obliged to pay?


If you get a job within 1 month from the start of your course, you don’t have to pay anything. But after that time period, yes you’ll have to pay even if you get placed without the help of Newton School. We believe that during these 6 months you'll receive tremendous learnings from this course which will help you crack interviews for software development jobs.




How much % of salary should I pay and for how long?


15% of the monthly income for 3 years / pay Rs.3 lakhs in total in the months where your salary is more than 6LPA. The maximum total payment in any scenario is 3 Lakhs.




Is the income on an ISA calculated on cash-in-hand or CTC ?


As per ISA, we charge 15% of CTC offered to you by the company excluding equity.
Also the payment amount will be calculated before taxes




When do my ISA repayments start and what if I get fired or leave a job in between?


It will come into action once you get placed with a more than 6LPA job within 1 yrs after completion of the course. If you are fired or leave your first job within 3 months of joining the payment will get paused until you get a new job. If you complete 3 months in your first job with min guaranteed ctc, you have to pay the entire amount irrespective of your employment status after that.




What happens if I don’t get an offer for ₹6 LPA?


In the rare case that you don't get a job of Rs. 6 LPA, your repayment will not start. Your repayment will only start if you get a job > 6 LPA within 1 years of completing the course. Your payment period will only be 15% till the 3rd year after the end of course.





ISA (Income Sharing Agreement) Questions

What is ISA (Income sharing agreement)?


With ISA, you can enroll in our course by paying absolutely nothing but once you are placed, you agrees to pay us back 15% of monthly salary per month for 3 years, only in the months you are earning an annual package of 6LPA. Also, if you do not get a job of 6LPA within 1 years of completing the course, the ISA expires. It is capped at 3Lakhs. If you are fired or leave your first job within 3 months of joining the payment will get paused until you get a new job. If you complete 3 months in your first job with min guaranteed ctc, you have to pay the entire amount irrespective of your employment status after that.




If I get placed without the help of Newton School placement cell, am I still obliged to pay?


If you get a job within 1 month from the start of your course, you don’t have to pay anything. But after that time period, yes you’ll have to pay even if you get placed without the help of Newton School. We believe that during these 6 months you'll receive tremendous learnings from this course which will help you crack interviews for software development jobs.




How much % of salary should I pay and for how long?


15% of the monthly income for 3 years / pay Rs.3 lakhs in total in the months where your salary is more than 6LPA. The maximum total payment in any scenario is 3 Lakhs.




Is the income on an ISA calculated on cash-in-hand or CTC ?


As per ISA, we charge 15% of CTC offered to you by the company excluding equity.
Also the payment amount will be calculated before taxes




When do my ISA repayments start and what if I get fired or leave a job in between?


It will come into action once you get placed with a more than 6LPA job within 1 yrs after completion of the course. If you are fired or leave your first job within 3 months of joining the payment will get paused until you get a new job. If you complete 3 months in your first job with min guaranteed ctc, you have to pay the entire amount irrespective of your employment status after that.




What happens if I don’t get an offer for ₹6 LPA?


In the rare case that you don't get a job of Rs. 6 LPA, your repayment will not start. Your repayment will only start if you get a job > 6 LPA within 1 years of completing the course. Your payment period will only be 15% till the 3rd year after the end of course.





Application Questions

Common Questions

Who is GRP Funding (“GRP”)?


GRP was founded in 2008 and provides working capital to small businesses in all 50 states. We’ve worked with over 15,000+ customers and growing! We’re located in Springfield, Massachusetts and maintain an A+ rating from the BBB.




Are you a direct financing Company?


GRP processes, underwrites and provides funding directly to its small business Customers. When you’re working with GRP, you’re working with the financing source. We strive to make the process simple, fast and convenient in a transparent way.




What is the difference between GRP and a bank?


GRP requires minimal paperwork and typically provides financing in as little as the next business day after final approval. Banks require substantial documentation and can easily take 60-90 days to approve financing. Also, while GRPs financing terms do not require a collateral pledge, banks typically require some sort of personal or business collateral for their financing.




How can I use my funds?


The capital we provide is intended for business purposes. However, there are no business use restrictions. Unlike a traditional bank, you are free to decide where the capital is needed most.





Applying & Repayment Questions

How much funding can I obtain through GRP?


Depending on the working capital program you select, you can receive from $5,000 up to $500,000.




Will it cost me anything to see if I qualify?


There are no hidden fees. We are happy to present you with offer options at no cost and no obligation to move forward.




If I Apply, will my credit score be affected?


During the prequalification process, GRP only performs a “soft pull” on the business owners credit history. We incorporate this information along with numerous business attributes to aide us in generating offer options for you to consider. Soft pulls do not affect your credit score. If you elect to move forward with one of GRPs financing programs, only then would GRP perform a “Hard Pull” on your credit history which may affect your credit score.




How long does it take to see if I qualify and receive funds?


Once we have a complete application, you can be approved in a few hours. After final approval, we typically deposit funds the next business day.*




Is my business eligible?


We serve over 500+ industry types, so chances are we have a program for you. Our customers include retailers, restaurants, health care professionals, auto parts, repair shops, wholesale and service providers, and so many more. Minimally, your business has been open at least 12 months and generates at least $150,000 in total annual revenue. Contact us at info@grpfunding.com or at (877) 571-7999 and a GRP representative can help determine your business’s eligibility.




Can I pay off my outstanding balance early?


You can always repay your outstanding balance without incurring any early pre-payment penalties or fees.




How can I apply?


There are several ways to apply. You can either get started by filling out our 1-Minute Application, or you can call us at (877) 571-7999 and a funding specialist will be available to help you get the process started.





If any queries, or doubts, you can contact us directly

Newton School

Newton School is a platform to learn and develop skills that you need for your best Tech career. We boost up your skills and prepare you for your dream job. 

We are dedicated to build and structure your tech career for the dream companies worldwide based on your skills, eligibility, preferences and work hard with you till you get into one of yours.

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