Reliant Funding Small Business Loans Review

About Reliant Funding

Reliant Funding

Reliant Funding provides customized, short-term funding to small and mid-sized businesses nationwide. Recognized for four consecutive years by Inc. Magazine among the 1000 fastest growing privately held companies in America, they offer high approval rates with first class customer service and timely assistance to help achieve clients’ business goals.

review breakdown

Interest Rates
Fees & Closing Cost
Customer Service

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What is Reliant Funding?

Reliant Funding is an online alternative lender based in San Diego, Calif. Since 2008, Reliant Funding has focused on providing short-term working capital to small businesses across the country via small business loans, equipment financing and merchant cash advances. The company has provided more than $1 billion to more than 10,000 companies in the last decade. Reliant Funding merged with New York-based Merchants Capital Access in September 2017 and now has additional offices in Melville, N.Y. and New York City.

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Lender highlights

Focused on speed. Reliant Funding advertises their application process takes less than 30 seconds and approval happens in one day. It’s common for online lenders to promise a quick application process and approval within 24 hours.

Several options for short-term funding. Reliant Funding offers three products for short-term financing: small business loans, merchant cash advances and equipment financing. These are typical options from online lenders, though some also provide a long-term option.

Many industries qualify. Reliant Funding serves a wide range of industries from health care to construction and transportation. Reliant Funding’s finance options can help business owners cover payroll, new projects or equipment purchases. The variety of industries served and the freedom to use capital for any expense are typical perks of many online lenders.

What Reliant Funding offers?

Reliant Funding provides short-term financing to small business owners seeking working capital.

Reliant Funding: At a glance
Funding product Funding amount Term APR range/ factor rate Fees Time to funding
Small business loan $5,000 to $250,000 3 – 15 months Not provided by Reliant Origination fee (based on funding amount) 24 hours
Merchant cash advance $5,000 to $500,000* 6 – 12 months* Not provided by Reliant Origination fee (based on funding amount) 24 hours
Equipment financing $5,000 to $500,000* 6 – 12 months* Not provided by Reliant Origination fee (based on funding amount) 3 – 5 business days

*Reliant Funding does not advertise the rates and fees associated with its products on its website. Terms accurate as of the date of publishing.

For merchant cash advances, Reliant Funding determines a fixed cost without compounding fees or accruing interest. To pay back the advance, you must agree to a daily bank-to-bank withdrawal from your business account.

Eligibility requirements

Funding product Annual revenue Min. Business Credit Score or Personal Credit Score Time in business
Small business loan $100,000 in annual sales Not required 1 year
Merchant cash advance $10,000 in monthly sales Not required 1 year
Equipment financing $100,000 in annual sales Not required 1 year

Credit history considered. Reliant Funding will review your credit history, but it is not a primary decision-making factor when it comes to approving your financing. Additionally, Reliant Funding does not require a personal guarantee or pledged collateral from most borrowers.

Time in business exception. Occasionally, companies with fewer than 12 months in business may have high enough revenue to qualify for financing.

Businesses that are not eligible for Reliant Funding loans:

You may not be approved for financing from Reliant Funding if:

  • You’ve been in business less than seven months.
  • Your business has an open bankruptcy.
  • Your business has a negative landlord reference.
  • You have significant judgments or liens against you without a plan to pay those off.

How to apply for Reliant Funding financing

You can apply online for a free, no-obligation quote from Reliant Funding. You must provide your contact information, number of years in business and gross annual sales. Reliant Funding advertises a simple application process with little paperwork needed.

Documents to apply

  • Six months of most recent bank statements


Pros Cons
  No restriction on use of funds   Loan details not available on website
  No collateral or personal guarantee required   Application requirements unclear
  Credit history not a deciding factor   Rates and fees may be higher than expected

Who is the best fit?

Reliant Funding works with businesses in several industries, customizing funding to meet specific industry needs. Here are the top fields the lender works with:

Fine print

Understand how factor rates work. Cash advances don’t have interest rates like loans. Instead, pricing of the advance is based on a factor rate. Here’s how that works. Say, the factor rate is 1.25. To calculate how much you would pay in total for a $10,000 loan, multiply the borrowing amount by the factor rate. That would total $12,500, meaning you would pay $2,500 in addition to paying back the $10,000 you borrowed.

Understand riskiness of cash advances. Merchant cash advances are typically expensive products with fast repayment terms, making them dangerous to take on. You would owe the lender a portion of your daily credit card transactions, regardless of your sales volume, which could prevent your business from earning profits. Some business owners end up taking out another cash advance to cover the high fees of the original advance, sending them further into debt. Merchant cash advances could be more trouble than they’re worth. Consider all of your financing options before making a decision.

Financial stability required. While Reliant Funding doesn’t require you to make a fortune in sales, the lender does expect your business to bring in steady revenue. The one-year minimum for short-term loans and merchant cash advances indicates Reliant Funding prefers to work with business owners with some experience. While credit is not a deciding factor, Reliant Funding won’t approve a business owner who has filed for bankruptcy.

The bottom line: How Reliant Funding stacks up

Reliant Funding provides a few short-term financing options for business owners but offers little detail on those products. The funding amount ranges from $5,000 to $250,000 and could cover large and small expenses, but you may not know the total cost of your loan or cash advance until you go through the application process. The lack of readily available information could prove frustrating while shopping and could make it difficult to compare Reliant Funding to other lenders.

Despite the absence of product details, Reliant Funding does share its company history online and lists its leadership team, which is a common practice among reputable online lenders. Although Reliant Funding has several products available, its selection is fairly basic.

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