Torro is a business loan provider that is dedicated to helping others reach their personal business goals. Since being founded in 2012, Torro has grown to specialize in small business, new business, and even startup business funding, catering to the needs of individuals hoping to jumpstart and expand their businesses.

Torro prides itself on a simple loan process by granting fast approvals for all types of business loans (with funding approval given in as little as one hour) and its high-quality service. In addition to loans, Torro also offers consultations for small businesses and startups.

A customer that chooses Torro should remember that he or she must have a credit score of 600 or higher.

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The Good

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

Fast Approvals

Seeking out a business loan 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 loan service in all 50 states, making its offerings accessible to business owners in need of consultations and funds across the country to those.

Flexible Loan 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 loans, equipment financing, no-collateral loans, and loans for working capital. 

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

Repayment terms and other business funding details will depend on the loan type. Additionally, Torro offers merchant cash advance loans, which provides further flexibility for businesses to repay loans.

Flexible Terms

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

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

The Bad

  • Young Company
  • Little Information on Fees and Rates

Young Company

Torro has been in business since 2012, which is a relatively short amount of time when compared to other lenders in the industry. This does not necessarily mean that Torro's loan programs are lower quality than more established competitors, but some may prefer a financing option with a 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.

The Bottom Line

Torro is a business loan provider that offers valuable services for business owners in all 50 states that are in need of financial loans and consultations. The company offers expansion loans, equipment financing, no-collateral loans, and loans for working capital. 

The company may prove to be an exceptionally good option for those seeking loan services for startups and new businesses. Torro offers a variety of loan options, quality customer service, a simple application process, and quick approval and funding times. All financing options require a 600 credit score or higher. 

However, Torro is a relatively young business, and the company provides little information about its fees and rates on its website. If you want a lender with more experience and transparency, we recommend checking out other top-rated loan service providers. 

If you are interested in learning more about what customers think about the financing solution, you can find Torro reviews below.

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User Reviews

Star Rating

4.2
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61 Reviews

Review Breakdown

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Joseph Carillo
October 2nd, 2019 Port Jefferson Station, NY DETAILS
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Jay gave excellent customer service. Anytime I tried to contact him his response time was almost immediate. We didn't get funding for the extended term desired- however we did qualify to meet our shorter term funding needs. Jay obtained a competitive payback rate and helped us plan for qualifying for the term loan in the future.

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Sogol
August 13th, 2019 Reseda, CA DETAILS
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Best experience, fast and accurate Jay was great to deal with

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Joseph Murphy
July 30th, 2019 Deep Run, NC

I have long run my company without credit cards. A strong small business can do this since the owner is generally in charge of purchasing, yet this company tells me that I won’t get approved because I don’t use credit cards. What a joke. Perfect credit since I was 18. I thought I’d give them a try since they had decent reviews, but they use excuses like other online lenders. Much better off to go to traditional banks if you have good credit.

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Gayle W
July 1st, 2019 Tampa, FL

A bunch of organized folks. Too many people involved in the process and made us submit application 4 times. Daniel has got to be the worst sales person, hangs up on you and never returns a call . Wish Jay would have finished out our loan request.

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Derek McAdoo
June 12th, 2019

Jay was awesome and the process was super efficient! I look forward to doing business with Torro in the future!

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Brian carter
May 14th, 2019 Statesboro, GA

Jay F was awesome from the start. Everything was quick and on point. To be honest they waited on me more than I on them to get everything done!

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Michael
April 26th, 2019 Henderson, NV DETAILS
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What this company does is broker the loan. They send out an approval. You sign the contract. Before funding they need to find an underwriter. It’s a scam. Multiple credit reports will be pulled as they shop around the funding. They don’t actually fund anything.

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A. Lee
April 12th, 2019 Yorba Linda, CA

This company helped me to get the best way to get the amount that I need Really recommend Thank you Torro

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Matt
April 8th, 2019 Versailles, KY DETAILS
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Jay was easy to work with and the loan was process quick and with no trouble at all. Will definitely use again.

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Raul
November 28th, 2018 Dolton, IL DETAILS
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I went to torro a few months ago and spoke with Eric. He got me funded and then i needed more got approved the same day. Good company good people.

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Anonymous
September 20th, 2018 Cleburne, TX DETAILS
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He was informative but he did not follow through with a credit back to my debit card

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John Taylor
September 20th, 2018 Hendersonville, NC DETAILS
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They never contacted me. My request is still pending weeks later

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Leo
August 31st, 2018 Bowie, MD DETAILS
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It is a bunch of crap! SAVE TIME AND APPLY FOR CREDIT CARDS YOURSELF! Don't do it! There is NO funding! They will use your social for credit card application. You can do it yourself!! TORRO FUNDING= crooked business!

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Abduljalil Alauddin
August 21st, 2018 Paterson, NJ

Peace, I am a small business owner : I.O. Quick Clean Out 220 17th Ave Paterson , NJ 07504 I recently seeked funding for my company. Mr . Andrew B of Torro helped me reached that goal. He was very honest, straight forward and determined to get my company the capital it needed to grow to the next level. I am very grateful and happy with his service and the company. Thank you for making it possible to excel as an entrepreneur. Sincerely, Abduljalil Alauddin

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Carlos
July 13th, 2018 Easton, PA DETAILS
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It was such a great pleasure working with Andrew B! He was very professional, courteous, and to the point. What I appreciate the most is his sincerity. I would recommend working with him and I definitely would work with him again , if the need arises. Thank you, Andrew!

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HENRY A DANEAULT
June 11th, 2018 Lowell, MA

ANDY B. WAS DETERMINESD AS I WAS TO SEE MY FUNDING THROUGH EVERY STEP OF THE WAY . HE PROVED HIMSELF TO BE AN UP-FRONT PERSON,TELLING IT LIKE IT IS!!!MY WHOLE EXPERIENCE WAS GREAT. THE PROCESS TOOK LESS TIME THAT I ANTICIPATED. I AM RECOMMENDING TORRO ,LLC,ANDY B. TO MY COLLEAGUES AND CLIENTS.

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Jonathan Pakravan
May 29th, 2018 Beverly Hills, CA DETAILS
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I had a great experience with Torro. Andrew B. was responsive, knowledgeable, and came through when I need funds on a short time frame. I would recommend Andrew B. at Torro to all colleagues.

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TSE
May 25th, 2018 Boerne, TX DETAILS
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They were easy to work with and very quick to respond to my questions.

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Dan
May 25th, 2018 Fountain Inn, SC DETAILS
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They went out of their way to help me get the funds i needed

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Leslie Lauersdorf
May 25th, 2018 Racine, WI DETAILS
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They were helpful in directing me in what I needed to do to improve my credit score and were very good explaining what would happen.

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Verva Gerse
May 25th, 2018 Redlands, CA DETAILS
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Very clear on arrangements, Time of process was great.

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Matt
May 25th, 2018 Huntington Station, NY DETAILS
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Work hard to get you funded and very trustworthy

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Anonymous
May 25th, 2018 Morris, MN DETAILS
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They have been really nice to talk to.they understand they at least try to help

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Money when u need it
May 21st, 2018 Bradenton, FL DETAILS
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Expensive $$$ /short term fix / must be able to pay off

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Kent wa
May 21st, 2018 Kent, WA DETAILS
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Ok service but very expensive. They provided me Multiple credit cards for my Business.

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huebler
May 21st, 2018 Santa Rosa, CA DETAILS
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Very responsive and met my needs quickly as promised

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Denise
May 21st, 2018 Denver, CO DETAILS
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This rating was based upon knowledge of their product and timliness of response.

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C. Wilson
May 21st, 2018 Savannah, GA DETAILS
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They made the loan process smooth and easy to understand.

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A.H
May 21st, 2018 Bristol, TN DETAILS
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I chose Torro because they are convenient. The customer support is also very efficient.

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Winnifred Rios
May 21st, 2018 Queen Creek, AZ DETAILS
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They were recommended and I'm mixed about whether I'm glad or not. There are too many costs.

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Khizar Khan (Demand)
May 21st, 2018 DETAILS
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I'm very upset with them. They were supposed to give me a loan for $50,000, and they only gave me $30,000, which wasn't enough for my business. I had to pay the company back for doing the job, but it wasn't any good for me.

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Loren Grootegoed
May 21st, 2018 Jensen Beach, FL DETAILS
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We were a small business start-up and it was hard to find people who would lend to us, but they were willing to work with us. They didn't really provide us a loan but helped us get some credit cards to finance our start-up costs, with 0% interest on the card. They answered all our questions or would call us back in a timely manner.

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Matthew "Kyle" Smith
May 21st, 2018 DETAILS
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Before Torro, we didn't have the capital to take on all the little jobs we had, but with their help we were able to grab those extra jobs and I've gained a lot more capital in doing so. It was very easy for us, everybody was very understanding. Anytime I had issues I would give them a call and it was always taken care of. A little more pricy than other stuff, but a great experience overall.

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William Morgan
May 21st, 2018 DETAILS
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They're very responsive, they're also the most high-tech and made the process very convenient for me.

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Erick Gomez
May 21st, 2018 Montgomery, IL DETAILS
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I didn't like the way they helped me, instead of one loan I'm stuck with several payments and not just one. However, I was able to open my business, and they do what they say they will do to help you. Also, every time I had a question, I called, and they always had the answer.

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Ralph Caponong
May 21st, 2018 San Bernardino, CA DETAILS
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I was very happy with the outcome, and I was very satisfied with their support and process speed.

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Kimberly Warner
May 21st, 2018 Pueblo, CO DETAILS
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We thought we were getting a loan but ended up with a whole bunch of credit cards. They mislead you into thinking you're getting a loan but you're not.

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Carl Bowers
May 21st, 2018 Dallas, TX DETAILS
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I don't get any support from them. I probably could have done it all myself just individually working with the card companies. But it was probably my own ignorance making me end up paying for 10% which amounted to over $5,000. It was just a mistake on my part.

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Barbara Sullivan
May 21st, 2018 Hagerstown, IN DETAILS
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The representative was really friendly and helpful in explaining things, which is a big plus these days.

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Don Beum
May 21st, 2018 Pearlington, MS DETAILS
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Really easy to talk to the people, they made everything very easy to understand.

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Douglas Bryson
May 21st, 2018 Sedro-Woolley, WA DETAILS
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I'd seen some ratings on a website and decided to go with them. The experience was fine, everything worked out.

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Marion
May 2nd, 2018 Berthoud, CO

Toro is a very thorough company they help you with any questions you may have on your loan. Toro representatives get back to with an hour of leaving a message for them. Toro lets you know up front what is needed for your loans and how it is processed. I really like the way they do business.

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Clarence
April 23rd, 2018 Detroit, MI

Matt was very helpfull. Helping me get a loan. Definitely worked with me

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Greg Fuqua
April 23rd, 2018 Georgetown, TX

Applied for a small business startup loan. Had a few hickups along the way but was able to work out most of the details.

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Vickie
April 20th, 2018 Newton Falls, OH DETAILS
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Rick M. was great. Walked me through everything and all questions were answered. Great guy to work with.

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Steven paredes
April 19th, 2018 San Jose, CA

My experience with Toro was great really great customer service as soon as I make a call they answer the phone right away explains the me details of the business loan that I am applying for And also tries to help you out on getting a business loan for small businesses Matt really help me out in explaining what process I need to do to be able to get approved by tomorrow To start getting funded really great company I really recommend them for small business owners thank you torro and thank you Matt

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Rebecca Jones
April 19th, 2018 Charlotte, NC

I am very pleased with the awesome service I received from Joshua M. My partner and I received sound information, expedited services, and great results within 24 hours on a Holiday weekend!

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Joy Ortiz
April 19th, 2018 Little Ferry, NJ

Matt is fantasic!! He is working with me to get the loan approved!! He is very helpful and patient. He expains everything and helps me with the tools i need to get the loan approved.

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N. Alexander
April 11th, 2018 Charlotte, NC

Great experience. The reps explained everything well. Was timely with call backs. Very helpful in getting the resources needed to start my business. Big Shout out to Joshua M! Joshua was very patient and answered the many calls and questions without hesitation and pleasantly.

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Josh D Levine
April 5th, 2018 Paradise Valley, AZ DETAILS
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Andrew was a pleasure to work with. Very simple process and his communication thru everything was spot on. I was quite impressed.