Torro

• Fast Approvals
• Availability
• Flexible Lending Options
• Flexible Terms
• Funding For Startups
• Torro Reviews

Fast Approvals

Seeking out business funding can be stressful, especially when the financial need is urgent. However, Torro boasts a simple online or over-the-phone application process and a quick approval time, with funding approval given in as little as one hour. After receiving approval, borrowers can receive their funds in as little as one day.

Availability

Torro offers its funding service in all 50 states, making its offerings accessible to business owners in need of consultations and funds across the country.

Flexible Lending Options

Torro recognizes that each customer and its business has unique situations, goals, and financial needs. For companies that have been in business for more than a year, Torro offers expansion funding, equipment financing, no-collateral lending, and business capital. 

For startup companies, Torro offers startup funding for project development, business buyout, and minority business funding. Torro also offers several funding programs that other loan companies and banks do not, such as asset lending, bad credit business lending, and funding for high-risk businesses.

Repayment terms and other business funding details will depend on the funding type. Additionally, Torro offers merchant cash advance funding, which provides further flexibility for businesses to pay back what they borrowed. 

Flexible Terms

Torro funds can be fixed-term or open-ended, giving borrowers multiple payment solutions. For fixed-term funding, Torro funding can be up to $575,000. Fixed terms range from 3–24 months and rates will not fluctuate for the entire length of the funding period. 

Repayment terms are also flexible, so you don’t have to worry about being charged a penalty if you pay off your funding early. 

Open funding has more flexible payment options and features than fixed funding. Open funding ensures you are approved for the maximum amount offered, and if you meet the requirements, you can borrow up to $125,000. 

Once you apply for funding and are approved, you can withdraw the funds you need immediately to help your business’s cash flow and continue to withdraw more as you need additional funds. Your monthly payment will be based on the amount you currently have borrowed. As you pay off the funding or withdraw more money, your monthly payment will fluctuate.

Funding For Startups 

Torro knows that getting capital for a startup can be difficult. In order to expedite this process and increase your cash flow with ease, Torro provides its customers with an account specialist that can find quick funding solutions for their startup. 

Startups can receive startup capital that ranges from $25,000–$125,000. The amount of money you are approved for is dependent on the business owner’s, partner’s, and investor’s personal credit.

Torro Reviews

The majority of Torro reviews are positive, highlighting the lending company's extremely helpful customer service, the quick lending application process, and a variety of financing options. This can provide peace of mind to customers that the company is a trustworthy lender with satisfactory business funding. 

• Young Company
• Little Information on Fees and Rates

Young Company

Torro has been in business since 2015, which is a relatively short amount of time when compared to other lenders in the industry. This does not necessarily mean that Torro's programs are lower quality than more established competitors, but some may prefer a financing option with a more lengthy track record.

Little Information on Fees and Rates

While Torro claims to offer low rates, it provides very little information on its website about those rates. The lack of openness does not necessarily mean that Torro’s rates are not competitively low and fair, but it does show a lack of company transparency. 

To ensure you do not encounter any unexpected rates or fees, ask a Torro representative to explain the specifics of the contract before making any formal agreements.