Reliant Funding is an online lender that offers short-term working capital loans, merchant cash advances, and equipment financing. The company was founded in 2008 to provide underbanked customers with short-term, fixed-rate working capital. Reliant Funding can be a good option for small business owners who need funding right away. They can review and process your online application in just a few minutes, and underwriting and funding often happen the very next business day.

However, if you’re able to qualify for more affordable funding—or if you can hold off until you’re able to do so—then you shouldn’t work with Reliant Funding.

Reliant Funding offers very short-term working capital loans, which can be a great funding option for business owners that don’t want long repayment terms. The downside to Reliant Funding business loans is that they are not fully transparent with their interest rates.

Reliant Funding’s short-term business loan is suitable for customers that need financing to cover one-time purchases, such as property renovations, payroll, or hiring. Their short-term business loans  also come with an origination fee.

Reliant Funding’s merchant cash advance is not for every business. However, some restaurants and retailers use merchant cash advances to make rent or pay bills. Merchant cash advances are easy to qualify for but can be very expensive.

Reliant Funding’s equipment financing can help businesses finance or lease new or used equipment. You can use Reliant Funding’s equipment financing to cover software, furniture, hardware, and more. Reliant Funding’s equipment financing does not have any prepayment penalties.

Reliant Funding’s borrower eligibility is not transparent, as there is not much upfront information given regarding the minimum requirements for each loan product. However, there are some additional borrower eligibility details to keep in mind.

Although there is not much information about which industries are ineligible for funding, here is a list of eligible sectors that can receive business financing from Reliant Funding: 

• Construction
• Restaurants and Bars
• Health Care and Services
• Franchises 
• Transportation 
• Trucking
• Auto Repair 
• Retail 

• Reliant funding does not work with businesses that have an open bankruptcy.
• Reliant Funding can not work with businesses that have significant judgments or liens without a payment plan.

• Business bank statements
• A copy of your driver’s license
• Voided business check

If you’re interested in getting a loan from Reliant Funding, you’ll need to have a thorough understanding of their application and underwriting process. Here are some details to know.

The road to qualifying for working capital or merchant cash advance from Reliant Funding begins online. Your first step is to fill out their application to get a quote. The application includes basic business information, such as your business name, address, years in business, and annual sales.

You will self-report the data you provide for the application, and Reliant Funding reviews the application and bases their quote on the information you provide. Should you accept the quote that Reliant Funding provides, then the next steps will involve underwriting to confirm the credentials from your application.

Reliant Funding will request bank statements and a credit check authorization to verify your business credentials. If everything checks out, then they will fund the quote—or a similar deal—quickly. They’re often able to fund applications the next day.

However, the equipment financing process takes a bit longer. Underwriting can take up to one month once you’ve submitted an application and then three to five days to get the actual funds following approval.

Once you have paid down 50% of your original debt to Reliant Funding, you can typically renew your funding with them. However, this renewal threshold isn’t set in stone and is only applicable to borrowers who are in good standing.

The short-term working capital loan and the merchant cash advance from Reliant Funding will come with daily repayment plans. For merchant cash advance daily repayment, Reliant Funding allows you to choose between ACH debits from your checking account or a fixed percentage of your credit card revenue. Although a short-term loan from Reliant Funding will have a predetermined repayment term, a merchant cash advance relies on shifting daily payments and, as a result, won’t have a set term length.

For the equipment financing, there is no penalty for paying back the lease early and the equipment can be new or used.

Reliant Funding customer service is available by phone and email.

You can call customer support representatives at (866) 923-7309. You also email their support team through the contact form here or send a message directly to clientservices@reliantfunding.com.

Online reviews for Reliant Funding are generally mixed, but lean toward the positive side. Positive reviewers highlighted the excellent customer service, simple application, and quick funding process. 

Negative reviews tended to focus on the cost and repayment frequency. Most of these reviewers usually had taken out a merchant cash advance, which can be expensive for most businesses. Additionally, because merchant cash advances require daily or weekly payment, it is not ideal for businesses that do not generate a high volume of sales. 

In general, however, Reliant Funding is decently reviewed across the web. They have an A+ Better Business Bureau rating and 4.7 stars on Trustpilot, but their Yelp reviews tend not to be the most stellar.

Reliant Funding is in Fundera’s Lender Network. The Fundera team has carefully vetted Reliant Funding and determined that its offering is one of the best in its product category. When working with Reliant Funding, you can be sure you’re getting transparent, fair pricing on a best-in-class product.