Loans &
Learn more
Why Reliant
See the Difference
Learn more
Your Card
Verify Account
Reviews What Others Say
Newsroom View
Blog Visit
Business Network Learn More
Partner with us Learn more
Partner Channels Explore Opportunities
Partner Portal Login
Get to know
Reliant Funding
About Us
The Team
Connect Contact Us

Clearing the Air: An Inside Look at Common Misconceptions about Alternative Lending

Most business owners at some point need working capital to get over a slump, cover unforeseen costs or expand their business. When considering non-bank options, many prospects call us with preconceived notions of how the process works. Here are common misconceptions our funding team hears daily:

Misconception #1 – Terms and conditions are the same as banks

When clients consider alternative lending, they still think they are dealing with long term commitments.

Reality: Alternative lending is typically structured to get you all the way through the repayment process in a mere 6 to12 months.

Misconception #2 – Assets/collateral are needed

Callers think that when they apply for funds, its asset based. They dread having to pledge an asset to get the funds they need.

Reality: Very few alternative lenders collateralize with hard assets. This actually works to the benefit of the business owner because we don’t hold the asset hostage until you pay off the balance, unlike traditional banks.

Misconception #3 – It’s a long application process requiring tons of paperwork

Many potential clients believe we need just as much information as the banks do in order to apply for funds, and that it will take just as much time to approve and dispense the funds (typically weeks or months).

Reality: The application process is minimal in both time and paper work. We typically require 6 months of business bank statements, one year of a business tax return, and a one-page application. Funds can be distributed in a matter of hours. Plus, our clients experience an approval rate of roughly 70%. Banks approve less than 30% of business loan applications.

Misconception #4 – Subsequent funding

When clients borrow from a bank a second time, they may need to complete another lengthy loan process again.

Reality: Reliant’s clients not only have a short process for subsequent funding but those in good standing can usually access more funds over longer terms once they’re past the midway point of their original program.

Misconception #5 – Having bad credit won’t get you approved

Many make the assumption that their low credit standing will affect eligibility for approval.

Reality: Don’t be afraid to apply. 70 percent of the applications we look at are approved despite credit standing.
While banks place a strong emphasis on credit score, it’s only one of many factors considered by alternative lenders. Your company’s ability to repay funds, and general stability are also important.

(Visited 1 times, 1 visits today)
By clicking "Submit", you (a) consent to receiving calls and messages, including autodialed or pre-recorded calls, from Reliant Funding using the information you provided above, including via wireless telephone numbers that could result in charges to you, (b) acknowledge that no purchase of goods or services is contingent upon such consent, (c) acknowledge that telephone calls to and from Reliant Funding may be recorded, (d) consent to receive email correspondence including advertisements for business funding and other products or services, and (e) acknowledge that you have read Reliant Funding’s Privacy Policy and understand that you may opt-out of receiving communications of your choice from Reliant Funding as provided in the Privacy Policy.

Quickly learn your
funding options.

No cost to apply. No obligation to accept.


Your Reliant Funding application has been received.

You will be receiving a call shortly and we look forward to learning more about your business and funding needs.

By clicking the "Submit" button I agree to all terms and conditions.
We respect your privacy and will never sell or share your personal information.

Before you leave...

Please tell us about yourself.


Your Reliant Funding application has been received.

You will be receiving a call shortly and we look forward to learning more about your business and funding needs.

'Fast. Simple. Flexible. Request A Quote Today!'

'Congratulations, Your Application is Now 50% Complete!'

'Let us know who to contact once the funding details are available and we’ll be in touch immediately.'

[cms-block title="CTA Popup - disclaimer (english)"]
previous | refresh