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Torro

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64 User Reviews

7.6

Overall Score

Torro is a business loan provider that is dedicated to helping others reach their personal business goals. Since being founded in 2015, 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 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 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. 

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The Bad

  • 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 loan 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.

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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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Star Rating

4.1

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64 Reviews

Review Breakdown

5 grade

66%

4 grade

11%

3 grade

6%

2 grade

2%

1 grade

16%

Sentiment Criteria

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Verified Customer

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Matthew "Kyle" Smith

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.

3 years ago

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Kassie Garland Glen Carbon, IL

Derrick at Torro was in contact immediately after my request for information. Although I was close to eligible, my credit had a couple of snags. Derrick walked me through the entire process and explained what was needed and gave me options on how to get what I needed. His information was invaluable and I greatly appreciate the help. Most lenders will not even consider a start-up and until I spoke with Derrick, I had nearly given up my dream!

6 months ago

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Mike Orange, CA

Touro is not an above board lending agency. They send out your application for 10 or 20 different companies for a quote and they all pull your deep credit reports and screw up your credit and then they’re not really able to lend you any money.It’s like a modern day loan shark payments twice a week? Really? I’ve been in business for 41 years with excellent credit. No loan.

2 months ago

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Verified Customer

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Loren Grootegoed Jensen Beach, FL

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.

3 years ago

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Erick Gomez Montgomery, IL

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.

3 years ago

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Abduljalil Alauddin 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

2 years ago

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Steven paredes 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

3 years ago

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Jeff Louisville, KY

A first time user of business financing of any kind. Without doubt, Torro provided that resources needed to expand. With the guidance of Hayden, a Torro account executive, our business received funds far faster than expected. The deal rates and terms were very acceptable. More over, the cash infusion allowed for the following month to be a record revenue growth month in our 11 year history. We now have a partner and a credit facility that will enable us to grow and continue to add new customers in the foreseeable future.

3 years ago

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Corey Gongora , IL

I decide to give Torro a try cause they said it was the best option for me regarding a loan they filled my head up claiming how will 0 percent interest for 12-24 months which sounds very good but all they do is apply for a bunch of credit cards for you and charge you a percentage of how many accept you and you probably won’t even get the amount you was seeking just 5 credit cards or so, I’ll recommend if you looking for an actual loan go to someone else or if you want credit cards just apply for them yourself and save your money

4 months ago

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Verified Customer

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Leslie Lauersdorf Racine, WI

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.

3 years ago

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Carlos Easton, PA

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!

2 years ago

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HENRY A DANEAULT 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.

3 years ago

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Marion 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.

3 years ago

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N. Alexander 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.

3 years ago

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Connie Luebbert Longmont, CO

Joshua Morales was the BEST to work with. If I had any questions during the process, he was always readily available to answer them. He worked quickly and efficiently. I highly recommend working with Joshua and Torro if you need funding for your business!

3 years ago

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D Ortman Colorado Springs, CO

They are one of the best for meeting clients needs within the structure of current business operations. Andrew B., the account rep was excellent at finding solutions and thought outside the box in a very professional manner. The accounting dept followed through ahead of time in getting the funding out.

3 years ago

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D Ortmann Colorado Springs, CO

The are one of the best for meeting clients needs within the structure of current business operations. Andrew B. the account rep was excellent at finding solutions and thought outside the box in a very professional manner. The accounting dept followed through ahead of time getting the funding out.

3 years ago

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Verified Customer

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William Morgan

They're very responsive, they're also the most high-tech and made the process very convenient for me.

3 years ago

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Verified Customer

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Khizar Khan (Demand)

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.

3 years ago

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Verified Customer

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Carl Bowers Dallas, TX

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.

3 years ago

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Verified Customer

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Barbara Sullivan Hagerstown, IN

The representative was really friendly and helpful in explaining things, which is a big plus these days.

3 years ago

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Joseph Carillo Port Jefferson Station, NY

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.

1 year ago

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Jonathan Pakravan Beverly Hills, CA

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.

3 years ago

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Joy Ortiz 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.

3 years ago

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Rebecca Jones 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!

3 years ago

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Donna Riely Miami, FL

Torro gave an accurate estimate of how much credit they could get for me. The process was easy and I was guided through so all I had to do was follow their directions. I was well taken care of.

3 years ago

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Daryn worz Cleveland, OH

Matt Slagowski was extremely helpful! I highly recommend using this agent to help you with your business funding! He was informative, concise, and displayed great customer service.

3 years ago

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Verified Customer

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Douglas Bryson Sedro-Woolley, WA

I'd seen some ratings on a website and decided to go with them. The experience was fine, everything worked out.

3 years ago

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Verified Customer

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Ralph Caponong San Bernardino, CA

I was very happy with the outcome, and I was very satisfied with their support and process speed.

3 years ago

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Don Beum Pearlington, MS

Really easy to talk to the people, they made everything very easy to understand.

3 years ago

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TSE Boerne, TX

They were easy to work with and very quick to respond to my questions.

3 years ago

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Dan Fountain Inn, SC

They went out of their way to help me get the funds i needed

3 years ago

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Anonymous Morris, MN

They have been really nice to talk to.they understand they at least try to help

3 years ago

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Denise Denver, CO

This rating was based upon knowledge of their product and timliness of response.

3 years ago

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Verified Customer

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A.H Bristol, TN

I chose Torro because they are convenient. The customer support is also very efficient.

3 years ago

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Kimberly Warner Pueblo, CO

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.

3 years ago

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Joseph Murphy 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.

1 year ago

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Brian carter 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!

2 years ago

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Raul Dolton, IL

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.

2 years ago

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Josh D Levine Paradise Valley, AZ

Andrew was a pleasure to work with. Very simple process and his communication thru everything was spot on. I was quite impressed.

3 years ago

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Michael M Rahway, NJ

Very, very fast turnaround time - and Hayden, my rep, was incredibly responsive. Very impressive for a finance company.

3 years ago

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Verified Customer

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Matt Huntington Station, NY

Work hard to get you funded and very trustworthy

3 years ago

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Verified Customer

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huebler Santa Rosa, CA

Very responsive and met my needs quickly as promised

3 years ago

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C. Wilson Savannah, GA

They made the loan process smooth and easy to understand.

3 years ago

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Winnifred Rios Queen Creek, AZ

They were recommended and I'm mixed about whether I'm glad or not. There are too many costs.

3 years ago

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Gayle W 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.

1 year ago

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Derek McAdoo

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

2 years ago

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Michael Henderson, NV

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.

2 years ago

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A. Lee Yorba Linda, CA

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

2 years ago

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Matt Versailles, KY

Jay was easy to work with and the loan was process quick and with no trouble at all. Will definitely use again.

2 years ago

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