Reliant Funding
Reliant Funding
Reliant Funding is an alternative business funder based out of San Diego, which offers merchant cash advances (MCAs) and short-term loans. The company serves customers from industries like construction, auto repair, healthcare, transportation, restaurants and bars, and franchise. They also offer equipment financing and lines of credit for businesses and claim that they provide assistance to at least 70% of applicants. For MCAs, they require you to be in the business for at least 6 months, and for STLs, you have to have been in the industry for 1 year. Note that they do not consider applicants who are in open bankruptcy, or have a negative reference from their landlord.
The revenue requirement comes to $10,000 per month. Under their equipment lease, they finance used or new equipment such as fixtures, office furniture, computers, software, work vehicles, and POS. You can get amounts from $5K – $500K from the company. The term length is between 6 and 18 months, and they charge an origination fee. They have a system in which they do not reveal rates in advance; instead, you have to submit your details, and they would give you the initial quote. They do not charge traditional interest, but a flat fee depending on the amount you want to borrow.
