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  1. #1
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    Reliant Shutdown??

    Anyone hear they closed?

  2. #2
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    On LinkedIn I do see a lot of their employees are #lookingforwork

    Either a massive layoff or shutdown, I have no confirmation of either
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
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  3. #3
    Got a decline email from them today...it was an auto repair business 3 years in biz. They declined it for "wholesaling", also my rep is not answering his phone on 2 renewals & a payoff letter. Not sure what is going on over there.

  4. #4
    Got Confirmation of being closed yesterday

  5. #5
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    I wonder what happened. They just recently had a great article written about them about their over 100% yoy growth.

  6. #6
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    Quote Originally Posted by Oxforddan View Post
    I wonder what happened. They just recently had a great article written about them about their over 100% yoy growth.
    Now im convinced they are closed lol. Quarterspot was also "growing so fast" and look what happened to them.

    Simon Wein
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  7. #7
    nvm
    Last edited by nvarner; 02-17-2023 at 05:49 PM.

  8. #8
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    well BB was acquired by Enova. them closing down would be closer to 1 bottling water company buying another and then phasing out that label.
    Marcus Clapman
    Capybara Capital
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  9. #9
    Reliant Funding closed down is an oxymoron

  10. #10
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    Still waiting to see something actually verifiable on this

  11. #11
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    Enova got a huge Win with that acquisition of ODC. TBB was a very small footprint in business lending for them. It makes sense they are rolling it all under one brand, ODC, that had a much larger footprint.

    As for Reliant, time will tell what's really happening there and if they can't fund anymore, another prospect for someone to acquire their assets. Can Capital in the past had some pause in funding's but is still funding today so sometimes its a covenant issue and new sources of capital have to be found.

    Will 2023 see more M & A?

  12. #12
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    I think a few large ISO's may be sooner then later gobbled up by the big boys.
    Marcus Clapman
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  13. #13
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    Quote Originally Posted by fundingsmbs View Post
    Enova got a huge Win with that acquisition of ODC. TBB was a very small footprint in business lending for them. It makes sense they are rolling it all under one brand, ODC, that had a much larger footprint.

    As for Reliant, time will tell what's really happening there and if they can't fund anymore, another prospect for someone to acquire their assets. Can Capital in the past had some pause in funding's but is still funding today so sometimes its a covenant issue and new sources of capital have to be found.

    Will 2023 see more M & A?
    Yes but Reliant is a little different as the key employees are no longer there ... which is common in business for the execs to leave and things go downhill from there...
    Marcus Clapman
    Capybara Capital
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  14. #14
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    Still seems weird to me to have such success and then just fold up shop. There has to be more to the story. Why would anyone that is experiencing that growth ever stop?

  15. #15
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    Quote Originally Posted by Oxforddan View Post
    Still seems weird to me to have such success and then just fold up shop. There has to be more to the story. Why would anyone that is experiencing that growth ever stop?
    They shut down. Email went out to the employees. Who said or how you know they had 'such success'?

  16. #16
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    https://www.monitordaily.com/news-po...olume-in-2022/

    I mean they may have just paid for this article to be written. So who knows.

  17. #17
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    Quote Originally Posted by Oxforddan View Post
    https://www.monitordaily.com/news-po...olume-in-2022/

    I mean they may have just paid for this article to be written. So who knows.
    Thats not Reliant funding. Thats a completely different company

  18. #18
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    If you still need a home for that file or your renewals I can take a look at them.

    Sott Platto
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  19. #19
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    Quote Originally Posted by PullFee View Post
    Got a decline email from them today...it was an auto repair business 3 years in biz. They declined it for "wholesaling", also my rep is not answering his phone on 2 renewals & a payoff letter. Not sure what is going on over there.
    If you still need a home for that file or your renewals I can take a look at them.

    Sott Platto
    Scott@tmrnow.com
    tmrnow.com
    212-220-9872.

  20. #20
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    Quote Originally Posted by TheUnderwriter View Post
    Thats not Reliant funding. Thats a completely different company
    wow I am an idiot. My bad.

  21. #21
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    credibility (not the same co as credibly) lost their credit facility and temp shut down. debanked better get their reporters on the scenes. the tsunami has begun.

  22. #22
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    Ive been telling evreyone to sign-up with Capybara Capital ASAP....floodgates of new ISO's requesting to board has been non-stop! marcus@capybarausa.com
    Last edited by MCA-VET; 02-02-2023 at 01:12 PM.
    Marcus Clapman
    Capybara Capital
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  23. #23
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    I've been told its not uncommon for funders to be paying MCA Rates for Capital.....I don't see how that model lasts....
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  24. #24
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    https://debanked.com/2023/02/reliant...-shifts-gears/

    Pretty funny. Poor decision making
    Last edited by TheUnderwriter; 02-03-2023 at 08:08 PM.

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