4.0
4.0
Author: Kaitlyn Short
Torro is a business funding 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 lending process by granting fast approvals for all types of business funds (with funding approval given in as little as one hour) and its high-quality service. In addition to its lending services, 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.
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.
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.
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.
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.
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.
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.
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.
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.
Torro is a business lending provider that offers valuable services for business owners in all 50 states that are in need of financial funding and consultations. The company offers equipment financing, expansion, no-collateral, and business capital funding.
The company may prove to be an exceptionally good option for those seeking lending services for startups and new businesses. Torro offers a variety of lending 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.
Filter by:
Sort by:
Featured Review
Verified Customer
Review Source
Alejandra Cordova Laredo, TX
3 years ago
Reply from Torro
Nov. 8th, 2021
Verified Customer
Review Source
Matthew "Kyle" Smith
6 years ago
Verified Customer
Review Source
Tammi
3 years ago Edited January 10, 2024
Reply from Torro
Nov. 18th, 2021
Verified Customer
Review Source
Loren Grootegoed Jensen Beach, FL
6 years ago
Erica Bame
5 months ago
Reply from Torro
Jun. 14th, 2024
Verified Customer
Review Source
Robert thomas Hoosick Falls, NY
2 years ago
Reply from Torro
Jan. 5th, 2022
Verified Customer
Review Source
Erick Gomez Montgomery, IL
6 years ago
Jeff Gouveia Makawao, HI
9 months ago
Gujuan Smith Prosper, TX
1 year ago
Reply from Torro
May. 8th, 2023
Max McDaniel Fort Worth, TX
2 years ago
Reply from Torro
Mar. 8th, 2022
Marcus Edmond Newark, DE
2 years ago
Reply from Torro
Feb. 22nd, 2022
Eric J. Nightingale San Diego, CA
2 years ago
Reply from Torro
Dec. 20th, 2021
greg hernandez
3 years ago
Reply from Torro
Dec. 2nd, 2021
Kassie Garland Glen Carbon, IL
4 years ago
Abduljalil Alauddin Paterson, NJ
6 years ago
Steven paredes San Jose, CA
6 years ago
Jeff Louisville, KY
6 years ago
Verified Customer
Review Source
amanda marko Amsterdam, NY
2 years ago
Reply from Torro
Jan. 5th, 2022
Verified Customer
Review Source
Roderick Stephens Dublin, GA
3 years ago
Reply from Torro
Nov. 23rd, 2021
Verified Customer
Review Source
Leslie Lauersdorf Racine, WI
6 years ago
Paul Cox Colton, CA
10 months ago Edited February 2, 2024
Sabrina King Clementon, NJ
1 year ago
Review Source
Karen Nielsen
2 years ago
Review Source
Easycare Clinton, MS
2 years ago
Ken Johnson Arlington, TX
2 years ago
Reply from Torro
Aug. 5th, 2022
MR.D Chandler, AZ
2 years ago
Reply from Torro
Apr. 21st, 2022
Review Source
clayton scott Kingwood, TX
2 years ago
Reply from Torro
Apr. 7th, 2022
The iLIVE Project Baltimore
2 years ago
Reply from Torro
Apr. 4th, 2022
Travs Watertown, TN
2 years ago
Reply from Torro
Mar. 28th, 2022
Lou Madison, AL
2 years ago
Reply from Torro
Mar. 16th, 2022
Rochelle McFadden Barberton, OH
2 years ago
Reply from Torro
Feb. 28th, 2022
Review Source
Your Majesty Trucking Las Vegas, NV
2 years ago
Reply from Torro
Feb. 22nd, 2022
Review Source
Sonja Phoenix Waterloo, IA
2 years ago
Reply from Torro
Dec. 10th, 2021
Carlos Easton, PA
6 years ago
HENRY A DANEAULT Lowell, MA
6 years ago
Marion Berthoud, CO
6 years ago
N. Alexander Charlotte, NC
6 years ago
Connie Luebbert Longmont, CO
6 years ago Edited September 14, 2021
D Ortman Colorado Springs, CO
6 years ago
D Ortmann Colorado Springs, CO
6 years ago
Verified Customer
Review Source
Wayne A Krieg Shickshinny, PA
3 years ago
Reply from Torro
Nov. 8th, 2021
Verified Customer
Review Source
Khizar Khan (Demand)
6 years ago
Verified Customer
Review Source
William Morgan
6 years ago
Verified Customer
Review Source
Carl Bowers Dallas, TX
6 years ago
Verified Customer
Review Source
Barbara Sullivan Hagerstown, IN
6 years ago
Shaina Swartz Crawfordville, FL
10 months ago Edited January 30, 2024
Review Source
Stephanie Houston, TX
10 months ago
Quent Russell Denver, CO
1 year ago
luis antonio sicay Los Angeles, CA
1 year ago
Lonnie Ellis Brooklyn, NY
2 years ago
We're on a mission to empower consumers to make the best decisions and connect confidently with companies that deserve their business.
© 2024 BestCompany.com LLC - All rights reserved Privacy Policy | Terms | Do Not Sell My Personal Information