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Do you agree with TORRO's 4-star rating? Check out what 17,876 people have written so far, and share your own experience.
Do you agree with torro.com's 4-star rating? Check out what 824 people have written so far, and share your own experience.
- Torro Loan Features
- Torro Interest Rates and Fees
- Torro Loan Requirements
- Torro Loan Application Process
- Torro Customer Support
- Torro Perks and Bonuses
- Final Thoughts
Torro’s two main small business loan options are business funding for existing businesses and startup capital for new businesses. Not many lenders offer financing for new businesses, but with Torro funding you can get the capital you need to get your business off the ground.This can come in handy if you’re looking to fund startup costs or purchase ...
The fees are not always clear, because Torro matches you to other lenders. They do state APRs will not exceed 36%. Once you apply, you’ll have a better idea of the rates and fees your lender charges. Always make sure you factor this into your budget and read your loan agreement thoroughly before you sign.
Torro partners with lenders who all have varying loan requirements, so it’s tough to say what the “minimum” qualifications are. In general, the better your credit score, the better your rate will be. Torro has funded loans with credit scores as low as 400, though, so it’s best to apply before ruling yourself out. When applying for a Torro business ...
You can fill out an application online or contact Torro by phone. The initial online application takes just a few minutes to complete and contains information such as your business name, industry type, monthly income, and credit score. Torro does a soft pull on your creditwhen you apply, which does not affect your credit score. Once you decide to m...
You can contact Torro online via the website’s chat feature or give them a call Monday through Friday. Torro customers report they are mostly happy with the support they’ve received. Here are what customers are saying online about Torro’s level of service:
Flexibility
Torro offers a variety of business loans with fast approvals and the potential for same business loans. However, the company does not offer a payment deferral program for hardships, nor do they offer a rewards program. If you’re looking for flexible funding, Torro does offer open-ending funding via their revolving loan. You receive a maximum loan amount and are able to make draws up to that amount.
Transparency
The Torro website is informative and helpful, and the company seems to go out of their way to offer as much information on their loans as possible. Customers who have questions can call Torro to inquire or chat with an agent on the Torro website. Torro also boasts an A+ rating with the Better Business Bureau (BBB),where the company is accredited. On the BBB website, Torro has received 7 complaints in the last three years, all of which have been resolved and closed.
Technology
While Torro does not offer its own mobile app, the Torro website is functional on mobile. The company also boasts its own online dashboard for customers, allowing users to check the status of their funding, communicate with a funding specialist, and send or receive documents regarding their loan. Payments on your Torro business loan can be deducted automatically from your business bank account.
Torro offers two types of funding: working capital for your existing business and start-up capital for new businesses. Torro's start-up capital loan can help fund a new business idea and provide resources to purchase equipment and materials. Torro business loans can help leverage existing sales and invoices to fund everyday expenses including expan...
What I can say is that there have only been 7 complaints with the BBB in the past 12 months – It’s not uncommon to see 50+ for a financial offer. I found one thing particularly odd – the company seems to have two websites that are exactly the same – one is at torro.com and the other at gotorro.com.
Do you agree with Torro Offroad's TrustScore? Voice your opinion today and hear what 55 customers have already said.
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Jun 11, 2024 · 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.
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Torro has an overall rating of 4.0 out of 5, based on over 52 reviews left anonymously by employees. 71% of employees would recommend working at Torro to a friend and 69% have a positive outlook for the business. This rating has decreased by -1% over the last 12 months.
