Dawn H.
Avoid Reliant Capital
Avoid Reliant Capital – They are Complicit in Deceptive Practices with Pawnee Leasing I had the unfortunate experience of working with Reliant Capital as a broker for financing an $18,000 ultrasound device for my new small business. They were supposed to be a trusted partner, looking out for my best interests. Instead, they led me to believe I was entering into a loan agreement with no early payoff penalties and the ability to eventually own the equipment once it was paid off. What I ended up with was a 60-month lease, no option for early payoff, and the reality that I would pay a staggering $54,000 for equipment that cost only $18,000. It kills me becauase I had teh money to pay the device but I wanted to keep a little extra capital for my brand new business in case I ran into issues (like Hurricane Helene) Reliant Capital was fully aware of the deceitful practices of their financing partner, Pawnee Leasing, and they still chose to use them. This tells me that Reliant Capital is either complicit in the scam or is benefiting from the kickbacks they receive by locking customers into these predatory lease agreements. What’s worse is that the sales team at Reliant Capital never disclosed the true nature of the agreement. They assured me that I was getting a loan with no hidden fees or penalties. However, once I signed the papers, I discovered I was trapped in a lease that I could not pay off early without incurring huge penalties. I was also told that I would own the equipment once I finished paying off the total amount, but this is not the case. Instead, after paying $54,000 over five years, I still won't own the equipment. It’s clear that Reliant Capital knows exactly how scammy and dishonest Pawnee Leasing is, and they chose to work with them anyway. They’ve put my business at risk by pushing me into this terrible financial situation. After hearing about many similar experiences from other business owners, it’s obvious this is a pattern of behavior designed to trap customers and drain them financially. If you're a business owner looking for financing, avoid Reliant Capital and Pawnee Leasing at all costs. Their deceptive practices are harmful, and I wouldn't wish this experience on anyone. RUN the other way if you are considering working with either of these companies.