Small Business Loans and Other Products
Reliant Funding is a provider of small business loans and other lending services such as Merchant Advance, Equipment Lease and other Premium Programs. While business loans are the more common solution for funding needs, the other services that they provide can also be a big help to a small business. Here is a quick look at the different products this company has to offer.
Small Business Loan: Fixed terms and payment schedules depending on the amount and term. The amount can be anywhere from $10,000 to $500,000 for 3 to 24 months based on a borrower’s qualification.
Merchant Cash Advance: This is similar to the business loan, however the repayment is tied to the success of the business. Meaning the amount that you would pay monthly depends on your business’ monthly sales. If you make a lot for the month, your payment would be a lot as well; likewise, a slow month would mean a lower monthly payment.
Equipment Lease: This would be more dependent on the credit history so those with lower scores may not be able to avail of this. Terms tend to vary from 18 to 60 months with fixed monthly payments.
Premium Programs: Here you can get extended terms and reduced cost of capital from Reliant Funding but would vary from business to business so it is better to get in touch with the company directly.
Reliant Funding Customer Support
Reliant Funding provides a very basic form of customer support with email, free telephone and a simple FAQ section. The FAQ section can answer the basic concerns one might have with their service while more complicated ones should be addressed to the support representatives.
How You Qualify
People think that if their credit scores or credit history is bad then they can no longer be eligible for a bank loan. This is not how it is with Reliant Funding as they also greatly consider the current performance of a business or their gross sales.
A business owner could have some bad debt in their history but at the same time working on a successful start-up that could help get his finances in order. A small business loan could help him with the expansion, renovation or additional equipment that he needs but because of his credit score, banks would not grant him a loan.
Because Reliant Funding looks at both the current performance as well as the history or a business and its owner, they are able to assess whether or not a business is capable of paying for a loan or not with the income they generate now. This gives more opportunities for businesses to qualify for a loan which can also help them improve their credit score.
What's the Verdict on Reliant Funding?
Reliant Funding Review 2020 – Conclusion
Reliant Funding is a good option for small businesses to turn to should they need a small business loan. Their quick and easy application can let you know if you qualify for a loan within 24hours and have the money sent to you in as little as 3 days — which is much faster than a bank would. Though their payments may be a little confusing since they charge on a daily or weekly basis, the different options they have for borrowing cash for businesses more than makes up for that. So check out their services today!