Where does Reliant Funding do business?
Reliant Funding is a marketplace lender based in Melville, NY. It was founded in 2007 and offers access to business loans in state across the USA..
Does Reliant Funding charge an origination fee?
Yes, Reliant Funding charges a loan origination fee.
What limitations does Reliant Funding set on the purpose of the loan?
Some lenders only provide business loans for certain purposes. Reliant Funding offers considers loan applications for the following reasons:
- Equipment purchase
- New location
- Product or service expansion
- Working capital
- Business debt refinance
What types of business loans does Reliant Funding offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Reliant Funding provides access to the following business loan types:
- Unsecured term loans
- Secured term loans
- Merchant cash advances
Does Reliant Funding charge a late fee?
No, Reliant Funding will not charge you a late fee. Yes, Reliant Funding charges borrowers with a late payment fee.
Does Reliant Funding charge prepayment fees?
Yes, Reliant Funding charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.
How much can you borrow from Reliant Funding?
Loan amounts start at $5,000 and go up to $500,000.
What is the maximum loan term you can get with Reliant Funding?
Reliant Funding offers business loans with terms ranging from 6 to 18 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Reliant Funding?
Applicants with a credit score of at least 300 can apply for a loan via Reliant Funding.
Reliant Funding requires businesses to be in business for at least 6 months in business. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Reliant Funding. Its rates and terms fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
What is the estimated funding time for a business loan via Reliant Funding?
Reliant Funding can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.
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525 Broadhollow Road
Melville, NY 11747 USA
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- Active Duty Military
- Military Dependent
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- Proof of Residence