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Our Verdict

Reliant Funding’s quick funding and lenient eligibility requirements make it ideal for startups or businesses needing emergency cash, but it only offers merchant cash advances, which tend to have higher fees than traditional financing.

Pros	Cons
Relatively lenient eligibility requirements  24-hour funding available  Available in all 50 states  Prepayment discounts available	Only offers merchant cash advances (MCAs)  Misleading website content makes it look like multiple loans are available  May require daily or weekly payments  Doesn’t list upper range of rates and fees

Reliant Funding small business loans review

Reliant Funding is an alternative lender specializing in quick merchant cash advances (MCAs) with flexible eligibility requirements and large loan amounts, helping businesses of all sizes tackle various business expenses. Although its website lists a range of small business products, a representative confirmed they only offer MCAs at this stage.

While MCAs can be a great choice for those needing same-day business financing, be prepared to pay more than you would a traditional bank business loan. That said, Reliant Funding offers up to a 10% discount when you repay your debt early, which can help reduce the total cost of borrowing.

As far as customer service, borrowers have left positive reviews stating that Reliant Funding went above and beyond with its speedy turnarounds, with a 4.5 star rating on TrustPilot and an A+ rating on Better Business Bureau. However, some business owners complained that the high rates and daily repayments were a strain on their budget.

Who is Reliant Funding for?

• Business owners willing to pay extra for emergency funding. Although Reliant only offers merchant cash advances (MCAs), which usually have higher fees than other types of business financing, the extra cost could be worth it if you need quick access to emergency business financing.
• New businesses with relatively low annual revenue. While producing $60,000 in annual revenue could be a challenge for those needing startup financing, this amount is significantly lower than some leading merchant cash advance lenders.
• Small business owners who can’t provide collateral. With Reliant Funding, you don’t need to provide collateral or a personal guarantee to secure your financing.

Reliant Funding small business financing at a glance

Product	Loan amounts	Repayment term	Starting factor rate	Fees
Merchant cash advance	$2,000 to $2,000,000	2 to 24 months	1.20	Origination fee varies by customer and loan size

Merchant cash advance

A merchant cash advance (MCA) is a type of small business financing that allows you to borrow against your future credit and debit card sales. While getting an MCA with Reliant Funding could help your small business access up to $2,000,000 in capital as quickly within 24 hours, the daily or weekly payments could be tough to manage.

Note that MCAs are generally more expensive than traditional business and SBA loans. While many conventional lenders offer standard business loan interest rates, often measured as an annual percentage rate (APR), merchant cash advances tend to use factor rates. To calculate the total cost of borrowing with Reliant Funding, multiply the balance by the factor rate.

Let’s say you qualify for the lowest factor rate of 1.20 and borrow $10,000. Your repayment would look like this:

$10,000 (loan amount) x 1.20 (factor rate) = $12,000 (total loan amount)

Borrowers will likely have to pay additional origination fees, although Reliant Funding does not disclose details about these potential costs. If you repay your merchant cash advance ahead of schedule, you may be eligible to receive a discount up to 10%.

Reliant Funding borrower requirements

Minimum annual revenue	$60,000
Minimum time in business	3 months
Minimum credit score	500

You need at least $60,000 in annual revenue with a minimum three-month business history to qualify for a merchant cash advance from Reliant Funding. Low-credit borrowers could be eligible with scores as low as 500, but boosting your credit score before applying could improve your chances of securing a competitive factor rate with more flexible repayment terms.

Reliant Funding’s merchant cash advances are a type of unsecured business loan, meaning you don’t need to provide collateral and you may not have to sign a personal guarantee. Businesses in all 50 states are welcome to apply for an MCA with Reliant Funding.

Required documents

Reliant Funding doesn’t list the specific documents you will need when applying for business financing. However, you can be prepared by gathering the following common business loan requirements in advance:

• Recent bank statements
• Personal and business tax returns
• Accounts receivable aging reports
• Current profit and loss statement

Alternatives to Reliant Funding

	Reliant Funding	Elevation Capital	Fora Financial
Minimum credit score	500	Merchant cash advance: 500Term loans: 600Lines of credit: 550Equipment leasing: 600	570
Loan products offered	Merchant cash advances	Merchant cash advancesTerm loansLines of creditEquipment leasing	Merchant cash advancesTerm loans
Time to funding	As little as 24 hours	Merchant cash advance, term loans and lines of credit: in as little as 24 hoursEquipment financing: one to two weeks or longer	24 to 72 hours
Starting rate	1.20	Merchant cash advance: 1.08 factor rateTerm loans and lines of credit: 1.12 factor rateEquipment financing: 8.00% APR	1.13
Maximum loan size	$2,000,000	$3,000,000	$1,500,000
Minimum annual revenue	$60,000	Merchant cash advance: $120,000Lines of credit and equipment financing: $150,000Term loans: $250,000	$240,000
Minimum time in business	3 months	6 months	6 months

Reliant Funding vs. Elevation Capital

While Reliant Funding and Elevation Capital have similar starting factor rates, you could borrow up to $1 million more with Elevation Capital.

For borrowers looking for a business loan with bad credit, both lenders accept scores as low as 500 — although you need double the annual revenue to qualify with Elevation Capital. If you want access to a broader range of small business products, such as lines of credit, term loans and equipment financing, then Elevation Capital could be a better fit for your company.

That said, early-stage startups might want to go with Reliant Funding since you only need a three-month business history instead of six months with Elevation Capital.

Given that both lenders advertise the same starting factor rate of 1.08, it could be worth submitting an application with each to see which lender offers the better deal.

Reliant Funding vs. Fora Financial

Reliant Funding and Fora Financial are both solid choices for getting a merchant cash advance.

Fora Financial has a slightly higher minimum credit score requirement but offers a more traditional short-term business loan — potentially with more competitive rates and flexible repayment terms. Note that your company must generate at least $240,000 in annual revenue to qualify for either of Fora Financial’s products, while you only need $60,000 to qualify with Reliant Funding.

Both Fora Financial and Reliant Funding can fund as quickly as 24 hours, so speed isn’t going to affect which one is a better choice. Keep in mind that that’s the fastest time – it doesn’t mean that your business is guaranteed funding in that timeframe.

Fora Financial’s starting factor rate for MCAs is 1.13, compared to Reliant Funding’s 1.20.That said, you won’t know your actual rate until you submit an application with each lender.