SMALL BUSINESS LOANS REVIEWS
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Reliant Funding Small Business Loans: 2024 Review

Written by
Sarah George
Edited by
Robert Thorpe

Updated Dec 08, 2023

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At a glance

3.7
Bankrate Score
Caret Down
Accessibility
Affordability
Customer experience
Transparency
Flexibility

Overview

Founded in 2004, Reliant Funding offered merchant cash advances for small businesses. It’s currently not accepting applications.

Lender Details

  • Moneybag

    Loan amount

    $5,000-$250,000

  • Rates

    Interest rate

    Not stated

  • Clock Wait

    Term lengths

    Not stated

  • Dollar

    Min. annual revenue

    $60,000

  • Business

    Min. time in business

    6 months

Who Reliant Funding is best for

According to a customer representative, Reliant Funding isn’t accepting new applications for the foreseeable future. You can check out the best small business loans to find lenders open to new applications.  

If Reliant Funding does start accepting applications, this company may be an option for those needing a merchant cash advance. While its website shows other loans offered, a representative told Bankrate that it only provides funding through merchant cash advances. 

Who Reliant Funding may not be best for

The mixed information given by Reliant Funding’s website and its representatives could lead to confusion for small business owners, especially if you’re looking for a specific type of loan. 

While Reliant Funding receives thousands of mostly positive Trustpilot reviews, potential customers have filed complaints with the Better Business Bureau. Some of these state that the company has called customers excessively, even after requests to stop calling or place them on a Do Not Call list.

Reliant Funding: in the details

Loan amount
$5,000-$250,000
Interest rate
Not stated
Term lengths
Not stated
Fastest funding
24 hours
Min. annual revenue
$60,000
Min. time in business
6 months
Personal credit score
525

Reliant Funding pros and cons

Pros

  • Checkmark

    Accepts startups and bad credit

  • Checkmark

    Low revenue required

  • Checkmark

    Funds as quickly as 24 hours

Cons

  • Not offering new loans

  • Conflicting info given by reps

Business loan types offered

Getting loan information from Reliant Funding can be confusing. Its website lists seven small business loans offered, while customer representatives tell a different story. One rep stated that Reliant Funding only provides merchant cash advances, while another stated that it offers all loans mentioned on the site. 

Verify options available with a representative once Reliant Funding is open for applications.

Loan quick facts

  • Amounts: $5,000 to $250,000
  • Terms: Not stated
  • Rate: Not stated

Reliant Funding merchant cash advance overview

Merchant cash advances offer funding based on your business’s sales history and future sales expected. You may repay the loan in fixed amounts or by giving a percentage of sales. Reliant Funding gives you the choice to make payments either daily or weekly.

To qualify, you’ll need a minimum personal credit score of 550, according to a spokesperson. But Reliant Funding’s website mentions a minimum credit score of 525. You also need a minimum annual revenue of $60,000. While a representative stated that the funding amounts stop at $250,000, the website says it goes up to $400,000. So you’ll want to confirm how much funding you can get if you need higher than $250,000, which is a low maximum compared to other online lenders. 

The lender charges a $495 origination fee for funding the loan and a $50 insufficient funds fee if your payment bounces. You can also qualify for new funding after repaying at least 50 percent of your original MCA. But you want to do so only if you’re sure you can repay the advance to avoid getting stuck in a cycle of debt. 

Loan quick facts

  • Amounts: Up to $500,000
  • Terms: Not stated
  • Rate: Not stated

Reliant Funding business line of credit overview

A line of credit allows you to borrow funds and replenish the amount you can borrow as you repay. These give you flexibility to cover small expenses as needs come up and only pay interest and fees on the amounts you borrow. 

A representative stated that your business needs an annual revenue of $100,000 and minimum personal credit score of 600 to get this type of loan.

Loan quick facts

  • Amounts: Up to $1 million
  • Terms: Not stated
  • Rate: Not stated

Reliant Funding bridge loan overview

A bridge loan offers fast funding to cover expenses while you’re waiting for a more permanent solution, such as an SBA loan. According to a Reliant Funding rep, you can get approved for this loan if your business has $200,000 in annual revenue and a personal credit score of 600. It also caters to startups with at least six months in business. 

Loan quick facts

  • Amounts: Up to $1 million
  • Terms: Not stated
  • Rate: Not stated

Reliant Funding equipment leasing overview

If you’re not sold on buying your own equipment, you could get an equipment lease as long as it’s currently offered by Reliant Funding. An equipment lease lets you rent business equipment for a fixed time period. Some leases include perks like maintenance and repairs, and others give you the option to buy the equipment at the end of the lease. 

To qualify, a representative stated that your business needs at least $200,000 in annual revenue and a personal credit score of 600.

Loan quick facts

  • Amounts: Up to $100,000
  • Terms: Not stated
  • Rate: Not stated

Reliant Funding e-commerce funding overview

This unique funding option provides working capital to e-commerce businesses. With a revenue requirement of only $50,000, Reliant Funding keeps this funding accessible to the smallest of businesses. But you’ll have to check that this option is currently available. 

The website mentions that you can get funding up to $250,000, while a representative stated that funding tops out at $100,000. You’ll also need a personal credit score of at least 550 to qualify.

Do you qualify? 

Reliant Funding welcomes business owners with bad credit and little time in business to apply. While a representative stated that the minimum personal credit score is 550, its website goes as low as 525.

Its minimum requirements include:

  • Minimum personal credit score of 525
  • At least 6 months in business
  • At least $60,000 in annual revenue

Its requirements are on par with other merchant cash advance providers, but lenient compared to most business lenders. Standard business loan requirements stand at $100,000 or more in annual revenue and two years in business. Minimum personal credit scores can range from 600 to 670, depending on the type of lender.

What we like and what we don’t like

Reliant Funding is inconsistent with the loan information, requirements and loan features that it provides. There are conflicting details provided by the website and different representatives. The website also doesn’t state that it’s not accepting new applications, though the online application tool doesn’t work. 

But Reliant Funding could be a fast funding source for a merchant cash advance if it opens back up in the future. 

What we like

  • Accepts startups and bad credit. Reliant Funding’s lending requirements start at a minimum personal credit score of 525, and it accepts businesses with as little as six months in business. 
  • Low revenue required. Your business needs a minimal amount of revenue in order to apply — as low as $60,000.
  • Fast funding. Reliant Funding approves most applications within hours and sends funds to your account in as little as 24 hours. 

What we don’t like

  • Not offering new loans. Reliant Funding isn’t open to new applicants, so you’ll have to look elsewhere if you need business funding right away.
  • Conflicting info given by reps. When we contacted this lender, we received different information about loan types, loan sizes and application requirements.  

How Reliant Funding compares to other lenders

Reliant Funding primarily offers merchant cash advances, and its customer service provides mixed information about the other loans it offers. It also isn’t as transparent as other online lenders about interest rates. Here’s how Reliant Funding compares to similar lenders.

3.7

Bankrate Score

  • Loan amount

    $5,000-$250,000

  • Interest rate

    Not stated

  • Term lengths

    Not stated

  • Min. time in business

    6 months

  • Min. business annual revenue

    $60,000

4.1

Bankrate Score

  • Loan amount

    $10,000-$10 million

  • Interest rate

    N/A

  • Term lengths

    6-24 months

  • Min. time in business

    6 months

  • Min. business annual revenue

    $600,000

Read our review Arrow Right

on Bankrate

4.6

Bankrate Score

  • Loan amount

    $1,000-$10 million

  • Interest rate

    4.63%-60.00%

  • Term lengths

    3 months-25 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $50,000

Read our review

on Bankrate

Reliant Funding vs. Uncapped 

Uncapped offers three short-term loans that work similar to merchant cash advances, funded based on your sales history. Reliant Funding also offers merchant cash advances, though customer reps give mixed details on whether it offers other loans. Its website lists lines of credit, equipment leases, bridge loans, startup and e-commerce funding.

Uncapped is straightforward about its lending requirements, though its $100,000 monthly revenue requirement is steep compared to most lenders. Uncapped does lower its revenue requirement to $10,000 monthly for Amazon sellers. 

Uncapped relies more on your business sales history rather than credit score to approve funding. Reliant Funding is much more accessible, requiring just $60,0000 in annual revenue and a personal credit score of 525. Both lenders accept startup businesses with six months in business.

Reliant Funding vs. Lendio

Lendio is an extensive business loan marketplace that compares over 75 lenders. You can apply for a variety of business loans, including a business line of credit, merchant cash advance, business term loan, equipment financing and SBA loans. Reliant Funding offers at least merchant cash advances. But customer reps give different information about whether it offers other business loans mentioned on its website.

Business owners with a minimum personal credit score of 600 can apply with Lendio. The requirement is higher than Reliant Funding, which goes as low as a credit score of 525. Reliant Funding accepts businesses with their doors open for as little as six months. 

But when you’re applying with Lendio, the time in business depends on the type of loan. For example, you can apply for a merchant cash advance with just three months in business, but SBA loans require at least two years.

How to apply for a loan with Reliant Funding 

Reliant Funding has an online application on its website. You’d normally be matched with an account manager to answer your questions and personalize your loan. 

Your funding request would then be approved within a few hours, and funds deposited to your business bank account within 24 hours. However, Reliant Funding is currently not accepting new applications.

Reliant Funding frequently asked questions

How Bankrate rates Reliant Funding

Overall Score 3.7
Accessibility 5.0 When Reliant Funding accepted applications, it kept its lending criteria lenient to keep funding available for many small business owners.
Affordability 3.0 The lender isn’t upfront about the interest rates it offers.
Transparency 2.9 Reliant Funding gives conflicting information about the loans and loan features it offers.
Customer experience 4.5 Reliant Funding offered a quick application process when it accepted applications.
Flexibility 2.9 Limited and conflicting information made it difficult to determine the lender's repayment terms and unique options.

Methodology

Clock Wait
47
years in business
Credit Card Search
30+
lenders reviewed
Loan
22
loan features weighed
Rates
770+
data points collected

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

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