Reliant Funding Merchant Cash Advance

Reliant Funding Merchant Cash Advance Review

Reliant Funding Merchant Cash Advance is offered by Reliant Funding, a marketplace lending platform founded in 2007 and based in San Diego, CA. Reliant Funding Merchant Cash Advance is available in 47 states (and Washington, DC).

Reliant Funding Merchant Cash Advance FAQ

What APRs does Reliant Funding Merchant Cash Advance offer?

The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Reliant Funding offers merchant cash advance with a factor rate starting from 1.159 to 1.159. The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.5 will have a total repayment of $30,000, which includes $10,000 in fees.

, but they do not disclose their rates.

Does Reliant Funding Merchant Cash Advance charge a late fee?

No, Reliant Funding Merchant Cash Advance will not charge you a late fee. However, it does charge a $0 fee if a payment is returned due to non-sufficient funds.

Does Reliant Funding Merchant Cash Advance charge prepayment fees?

No, Reliant Funding Merchant Cash Advance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the Reliant Funding Merchant Cash Advance off early.

How much cash can you advance from Reliant Funding Merchant Cash Advance?

Cash advance amounts start at $5,000 and go up to $400,000.

How often does Reliant Funding Merchant Cash Advance process payments?

Reliant Funding Merchant Cash Advance processes payments monthly based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to Reliant Funding Merchant Cash Advance as payment for your cash advance until the full amount is paid.

Does Reliant Funding Merchant Cash Advance charge an origination fee?

Yes, Reliant Funding Merchant Cash Advance charges a origination fee. Reliant Funding also charges a one-time administration fee of $0.

What is the minimum repayment amount required by Reliant Funding Merchant Cash Advance?

There is no minimum repayment ammount.

What is the estimated funding time for a merchant cash advance via Reliant Funding Merchant Cash Advance?

Reliant Funding Merchant Cash Advance can approve (or deny) a merchant cash advance application within 1 hour and fund your merchant cash advance within 1 business day of approval.

What are the business financing requirements for Reliant Funding Merchant Cash Advance?

To apply for Reliant Funding Merchant Cash Advance, you need to provide the following business documentation:

• Business license
• Business bank account

What do you need to qualify for Reliant Funding Merchant Cash Advance?

Applicants with a credit score of at least 500 and up to 850 may be eligible for Reliant Funding Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Reliant Funding Merchant Cash Advance does not have or does not disclose a minimum annual income eligibility requirement.

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 Merchant Cash Advance. 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 Merchant Cash Advance. Permanent resident / green card holders are also eligible to apply.

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

• Proof of income
• Recent bank statements
• Business formation documents
• Driver's license
• Proof of identity
• U.S. tax identification number

What limitations does Reliant Funding Merchant Cash Advance set on the purpose of the merchant cash advance?

Reliant Funding Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:

• Business debt refinance
• Emergency repairs
• Equipment purchase
• Hiring
• Inventory
• Lease improvement
• Marketing
• New location
• Payroll
• Product or service expansion
• Technology investment
• Working capital