Reliant Funding CEO, Adam Stettner talks Growing the Business and Business Finance with Eversprint’s Malcolm Lui
Have you ever wondered what the difference is between banks and short-term financing companies? Well we can only speak for Reliant Funding but during the interview with eversprint.com, Adam and Malcolm discussed business differences, the future and to answer the questions you have about small business financing.
At Reliant Funding, we are all about the story behind the business. Not everyone knows how Reliant Funding started, struggled and came out at over $60 million in revenue in 2018.
- 80% of Small Businesses that are seeking capital or are in need of capital are not being approved by traditional funding sources.
- According to this Small Business Lending Index, the small business loan application approval rate is 27.6%.
- Reliant Funding serves the under banked and cares about knowing the business and maintaining the relationship.
- Underwriting at Reliant Funding is in-house and the process is about balancing existing financials with advancing money against future sales.
- Reliant Funding’s repeat business rate is north of 50%.
- The take rate on an offer for a renewal is over 88%.
- Transparency and real conversations are a priority in order to provide people better funding with service they deserve.
- Training at Reliant Funding happens daily, weekly and bi-monthly in addition to monthly all-team meetings that include the entire staff.
- The Reliant Difference
- Why the Business Story Matters
- The Traditional Banking Business Model
- Our Model and How Factoring Works
- Costing Differences for the Customer
- The Reliant Funding Process and Concept
- Our Relationships
- Leadership Thoughts & Growth
- Goals for 2019
- Customers that we currently serve best