There often come scams which are way bigger than one originally anticipated Reliant Funding is one such scam which has been going on for quite some time now and the barrage of complaints have been drowned out by the steady stream of paid and possibly deceitful reviews that are coaxing people successfully to invest in these financial products. This is where the sheer fallacy lies of the entire system and here is where one should focus more attention on. Reliant Funding falls in this category, enticing users to apply for working capital for businesses. Business loan funding is another sector which is getting a lot of attention in recent times and rightfully so since this is one problem area for many businesses and individuals that has to be addressed in the absence of substantial credit from regular banking channels.
There is a market gap that is successfully identified by these fly by night operators and then people are encouraged to apply all the while being enticed by access to easy cash. But nothing comes easy in life as you will soon understand after going through the deceitful actions of the company named Reliant Funding which have been detailed below for a better understanding.
Learning more about the company
The company claims that it’s about you or the customer and that is where the whole deception journey begins apparently. The company states that in case someone has a business which is established and requires some extra working capital to the tune of thresholds like $15,000 or even $45,000 or even $125,000 and more on a short-term basis, Reliant Funding is the best solution. This is being advertised as the best solution for its simple and hassle free documentation and fast approvals and funds are deposited in the business account in a matter of a few hours or even days.
The company claims to offer the much-needed funds for those seeking additional working capital and also top-notch customer service at all times. It claims that the company management has people who are stalwarts in the financial industry of the United States and come from successful companies themselves. The strategy of the company is intentional when it says that it wishes to offer multiple choices to customers with the aim of ensuring that every funding package is tailored and personalized to meet unique requirements of clients. The company also talks of customer service being purposeful and also of its core principles which pervade each and every department of operation which is customer first in a manner of speaking.
The company claims to have been founded in the year 2008 and talks a lot about its uncompromising commitment towards ensuring solid customer service and quick short-term financing for customers. It has also been talking a lot about providing much-needed funds for business owners in the United States and claims to have been recognized routinely for its stability, growth levels and innovative service offerings, even going so far as to claim a listing in Inc. 500 for 5 years at a stretch. The focus here is the customer with service and working capital alike. Business loans are given along with cards and even a dedicated portal for merchants. The company claims to cater to business sectors like bar and restaurant funding, construction financing and loans, franchise loans and funding, auto repair funding and loans, trucking and transportation funding and also retail business loans and funding among others.
Here one should get into the intricate details of how the company is not what it claims to be.
Why Reliant Funding may be a sham company
This is the site where you will find some insightful details about the company and its so-called transparent operations-
There have been several complaints and reviews posted about the company over the last few years. There are many people who have talked about how they have received account reminders in their emails asking them to activate their accounts and they have often been grateful about the same since forgetfulness is something we all have to deal with at some point in our lives. However, then comes the wake-up call- what account is being referred to in this case?
The first time people heard of any such Reliant Business Cash Card was with these account reminders that came into their emails. They were asked to immediately activate the account to access a princely sum of $41,739 on the card. This was the very first time and the envelopes that came in by post did not have any sender names and there was just an address in San Diego which made tracking things even more difficult by all means. This is where the whole crux of the problem lies and makes you feel that you are on the verge of uncovering something more to it. Well, there is more. Some people at TINA did manage to do some groundwork and tracked the letter to this company named Reliant Funding which offers short-term business loans and the marketing method employed by them was direct mailers. The letter was a common occurrence across many mailboxes.
There was a complaint that was filed with BBB sometime earlier by an individual which clearly states that he was deemed eligible and qualified in advance for a sum of $41,739 which is the same being mentioned in the letters sent to other unsuspecting people. Additionally, there was an account number on this card although the person had not asked for any account and had never been in touch with this company ever before. This was a direct mail scam to accidentally activate accounts online or get people to contact Reliant Funding. Reliant Funding has always claimed that it has the coveted A-Plus rating with BBB for its organizational procedures although this is a blatant lie. BBB currently has the No Rating status for this company and innumerable people have already complained here about the company’s unethical practices of doing business and also for marketing their products to people.
Vitally, the terms and conditions of business loans offered by Reliant Funding cannot be found easily. They are literally invisible and this is suspicious in itself. The letters received by people did not have any details on the rates of interest, loan terms or even the fees for repayment. The only thing that was stated was that the program is not restricted by the same aspects like small business loans applied to from regular banks. It was also mentioned that zero collateral or equity would be required along with zero up-front charges or direct expenditure. The website is also the same which means really distracting and does not provide any information on the actual loan terms offered by Reliant Funding. Those who log on to the site only get pop-ups which ask for more details about their companies or businesses. The only way to get more information as it seemed was to actually apply for a business loan. This points to a bigger scam underneath. The website is also promising instant approval for business loans as can be seen and this is something of a warning since there is nothing mentioned about the costs of getting this money fast.
One user has already posted on Yelp that he did borrow a low sum of $7,500 from Reliant Funding for his business but the repayment was almost twice this sum after including all fees and charges. While he did say that the funds were granted swiftly, the huge cost of funds actually damaged his business overall. Perhaps this is the plan of the company to scam people into applying for fast cash and then getting them into the net of costly repayment and high profits due to the absence of clearly laid out terms and conditions beforehand.
Reliant Funding is coaxing customers in unethical ways
Other people have also posted about the unethical business practices employed by Reliant Funding. There was a similar account reminder sent to this one individual from the company and his non-profit had never worked with the company ever before. The reminder talked of how the account status remained pending and also that a pre-qualified Reliant Business Cash Card was issued for him along with the activation request. This amount was $41,739 and could be activated easily online or by the phone itself. The company was a local non-profit with an annual budget that was really small. In case the wrong people had received this mail and activated the funding, the consequences could have been drastic. This complainant clearly states that the business methods are highly unethical when it comes to Reliant Funding and they should be shut down immediately by the authorities if this is how they convince and lure people and later charge them double for the cost of funds.
Similar complaints were posted by another user who talked of the same Reliant Business Cash Card and the activation request that was sent to his address. The same amount was mentioned in this letter. The mail may have been stolen very easily as well and in case that happened, the liability would have been this person’s alone in case the card was not used at all by him. Another person got the same activation request for his business although he did not remember ever applying for any such funding and refused to do any further business with this fraudulent company as a result.
Another person also got a letter stating that the Reliant Business Cash Card was given to a company near his home. The home address was previously in the name of the company mentioned. The cash card had the same amount. This person was infuriated and wished to know why the company thought of the home as a business and also wanted them to delete everything they had regarding this address. This was a pure scam according to this complainant and he/she was terrified with the prospect of any person getting the loan with his/her address. The letter did not have his/her name anywhere mentioned on it.
Another complainant got a similar account activation reminder for this cash card and the amount as you guessed, was the same. The business owned by this person was dissolved around 3 years earlier and a loan was never sought from any company. He was anxious about the identity theft or fraud that the company is engaging in since he never asked for any credit line from Reliant Funding or held any discussions with the company at any time.
Another person also talked about getting this account reminder by letter from Reliant Funding. He clarified that he did not have any account with this company and had not even heard of them previously. These guys had his full name and address and gave him the account number which is totally fake and also a pre-qualified sum of $41,739 again. The letter seemed official and the envelope resembled the typical private pay slips or refund checks. The letter may have gone to anyone and that person could have easily contacted the company or got the sum activated online itself. This person was traumatized since was already a victim of theft of identity and wished to bypass any such situation happening all over again. He has already complained across several channels, asking to be fully removed from Reliant Funding’s database and all other channels which they may have sold to other third parties.
As can be clearly seen, it is a scam of the highest order without any ethical business practices whatsoever. Anybody can be fooled into signing up and activating and then the company earns a neat profit from double charges and fees and also if it falls into the wrong hands, virtually any impersonator can activate online in someone else’s name and this may be something that the company is doing on purpose as well. Who knows! All in all, this company deserves to be barred from doing business in such an unethical manner.