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Reliant Funding short-term business loans review

Though fast, it's not up front about rates and fees.

Reliant Funding offers fast financing with lenient eligibility requirements to business owners who’ve struggled to qualify for traditional business loans. But it’s not up front about the rates and fees you might qualify for.

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Min. Amount$5,000
Max. Amount$500,000
Loan Term6 to 18 months
Requirements1+ years in business, $100,000+ annual revenue, no active bankruptcies

First, do I qualify?

To qualify for a small business loan from Reliant Funding, your business needs to meet three criteria:

  • At least one year in business
  • At least $100,000 yearly revenue
  • No active bankruptcies

What makes Reliant Funding unique?

Reliant Funding sets itself apart from the competition by how fast it’s able to provide funding. Businesses can see approval in just a few hours and receive their funds the next business day. It also requires relatively lenient eligibility — your business needs to be around for at least a year, maybe less. And it doesn’t have a hard-and-fast credit score requirement.

What is a Reliant Funding short-term business loan?

Reliant Funding offers short-term business loans between $5,000 and $500,000 with terms that range from 6 months to 1.5 years. Interest rates are fixed and based on your credit profile and how much you borrow — though it doesn’t disclose a range of potential rates on its website.

Other types of business financing from Reliant Funding

Not sure a business loan is right for you? Reliant Funding also offers two other options to fit the needs of your business.

Merchant cash advances

Get fast access to funds between $5,000 and $500,000 that can be used to pay existing bills, satisfy debts or help grow your business. Unlike its short-term loans, its merchant cash advances offer a revolving source of funding — you can request additional funds once a portion of the previous cash advance has been paid off.

Repayments are based on either a fixed percentage of your daily credit card sales or fixed automatic withdrawals from your business checking account.

They come with the same eligibility requirements and fast turnaround as its short-term loans: It’s possible to see approval and receive your funds in as little as 24 hours.

Equipment financing

Reliant Funding also offers equipment leases to help you get the resources you need to run your business. Use this option to cover costs associated with equipment, such as training, delivery and installation.

It’s not as fast as, though. It can take up to a month to complete the underwriting process and another week to receive your funds. And it doesn’t report repayments to the credit bureaus, meaning on-time payments won’t help your credit.

What are the benefits of a short-term business loan through Reliant Funding?

Reliant Funding might be a good option for businesses that have had trouble getting approved through traditional lenders. Here are a few perks to consider:

  • Fast turnaround. You could get approved in just hours and receive your funds as fast as the next business day.
  • Lenient eligibility requirements. Reliant Funding doesn’t have a minimum credit score requirement, unlike other business lenders. And businesses as young as seven months old might qualify for funding.
  • Revolving financing option. Businesses struggling with cash flow can opt for a revolving merchant cash advance to gain access to ongoing funds.

What to watch out for

Weigh the benefits of securing financing through Reliant Funding with potential drawbacks:

  • Lack of transparency. Interest rates and fees aren’t listed on Reliant Funding’s website — you must submit an application before you can review the full terms.
  • Low maximum amount. Businesses looking to borrow more than $500,000 must look elsewhere.
  • Intrusive marketing. In the past, Reliant Funding has attempted connect with new customers by sending unsolicited credit cards with no value and without confirmation the business qualified for funding.

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Reliant Funding reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 1 out of 5 stars, based on 7 customer reviews
BBB customer complaints 87 customer complaints
Trustpilot Score 4.7 out of 5 stars, based on 837 customer reviews
Customer reviews verified as of 12 October 2020

Reliant Funding gets mostly positive reviews and few complaints. Many say they are happy with the professional staff and an efficient application process. The majority of negative reviews revolve around marketing campaigns that mislead customers into thinking they’re preapproved for financing, but weren’t.

How do I apply?

First double-check that you meet Reliant Funding’s eligibility requirements. If you do, you can begin the application online in four steps:

  1. Visit the Reliant Funding website and click Apply Now.
  2. Enter your name, business’s name and contact details.
  3. Select how many years you’ve been in business and your gross annual sales.
  4. Click Submit.

An account representative should get back to you within a few hours to discuss your loan options and complete the application. If approved, you may be able to receive your funds as soon as the next business day.

I was approved for a short-term business loan. Now what?

Read through your loan contract carefully to ensure you understand when repayments are due and any potential fees you might incur. If possible, you might want to ask about setting up automatic payments so it’s one less thing you need to worry about. If you have any questions, reach out to Reliant Funding’s customer service team at 888-239-7865.

Bottom line

Reliant Funding might be a good resource for borrowers who’ve had difficulty qualifying for traditional financing due to poor credit or a past bankruptcy. However, it’s not up front about the rates and fees you might pay, so read through your offer carefully before signing on the dotted line.

See how Reliant Funding stacks up to the competition in our guide to business loans.

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