Reliant Funding Business Loans Review

Reliant Funding Business Loans is a business financing offering by Reliant Funding, based in Melville, NY. Founded in 2007, Reliant Funding offers access to small business loans in 50 states (and Washington, DC).

What are Reliant Funding Business Loans’s rates?

Reliant Funding Business Loans offers a fixed APR business financing product that ranges from 20% APR up to 150% APR.

Does Reliant Funding Business Loans charge an origination fee?

Yes, Reliant Funding Business Loans charges a loan origination fee.

What limitations does Reliant Funding Business Loans set on the purpose of the business loan?

Reliant Funding Business Loans considers business loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• New Location
• Payroll
• Product or Service Expansion
• Technology Investment
• Working capital

What types of small business loans does Reliant Funding Business Loans offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Reliant Funding Business Loans provides access to the following business loan types:

• Unsecured Term Business Loans
• Merchant Cash Advances

Does Reliant Funding Business Loans charge prepayment fees?

Yes, Reliant Funding Business Loans charges additional fees to borrowers who pay off their small business 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 business loan early.

How much can you borrow from Reliant Funding Business Loans?

Business loan amounts start at $5,000 and go up to $500,000.

What is the maximum business loan term you can get with Reliant Funding Business Loans?

Reliant Funding Business Loans offers small 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 Reliant Funding Business Loans?

Reliant Funding Business Loans requires companies to be in business for at least 7 months. Businesses must have a minimum annual revenue of $10,000 to be considered.

Applicants with a credit score of at least 500 and up to 850 may be eligible for Reliant Funding Business Loans.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Reliant Funding Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Reliant Funding Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity

What is the estimated funding time for a business loan via Reliant Funding Business Loans?

Reliant Funding Business Loans can approve (or deny) a business loan application within 1 hour and fund small business loans within 1 business day of approval.