Go Torro Funding For Small Business Loans Reviews
If you are in need of a business loan or merchant cash advance for your existing or startup business, then try Torro funding, one place with many business lending options.
GoTorro Lending consists multiple loan programs suitable for various businesses.
Torro Loan provided by direct business lenders with easy approval & get loan deposited in your account within 0 to 4 business days. Everyone running a business whether small, or big, requires funds to either expand it further or maintain its day to day working capital needs.
Note: Gotorro offer loan for startup businesses (min 600 personal credit score) & for existing/New business min 500 credit score.
About Torro small business loans:
Go Torro loans offer an option that helps business owners get the funding they need in a short amount of time, for all credit types. Here’s what you can expect from Go Torro Funding:
Checking your eligibility & loan rate won’t affect your credit score.
- Flexible Torro loan programs for startup businesses
- Loans to acquire an existing business
- Loans for businesses that are less than a year old
- Project development loans
- Loans for high-risk businesses
- Bad credit business loans
- Working capital for existing businesses
- Loans to start a new business
- Financing for new equipment
- Torro business financing without collateral
- Loans in less than 48 hours
How torro funding works:
- Apply & find your loan amount, rates & terms.
- No cost No obligation to check your eligibility.
Who can apply & get business funding at Torro LLC?
Some business loans have strict requirements, but Torro LLC offers secure, private, fast funding to nearly anyone who has or wants business working capital.
Many loans available through Torro Funding Group offer funding in 0 to four business days. Minimal paperwork and a fast approval process means business owners could get their lump sum in just a few days.
Business loans are normally given to small and medium size business owners. Under normal circumstances, the funding from $5,000 to $500,000, although more may be offered depending on the negotiations.
- No Tax Returns Needed
- Flexible repayment options.
- Funds deposited within 0 to 4 working days.
- Less paper works.
- Min 500 + Credit score
- Business loan and Merchant cash advance approval in just under 48 hours.
Along with business loan, gotorro offers merchant cash advance, a type of loan provided for small businesses against their future credit card or debit card sales. This business cash advance loans are much faster and quicker to get compare to traditional business funding.
- Find for which type of business loan your business can get eligible today.
Business Loan & Merchant Cash Advance from Go Torro Funding:
Go torro funding can help you to get the cash you need for your business. If you process at least $5,000 thousand dollars sales per month, you are well on your way to receiving the business capital.
Go torro funding process is simple they give business loan based on your business income per month or cash advance based on your monthly credit card processing volume. After you’ve received the advance your credit card processor will deduct a small fixed percentage of your daily credit card sales until the entire purchase amount is collected.
Use the cash any way you see it fit renovation, expansion inventory, marketing there are many benefits to a merchant cash advance such as no personal guarantee, no collateral, minimal requirements no interest rates unlike a traditional loan the advances automatically repaid through your credit card processing transactions.
This means that there is no fixed payment bearing down on you which is especially helpful during slower times. The total amount Go Torro collects will vary with your sales but will always be the same small percentage.
If it takes longer than expected there are no additional fees or added costs.
Gotorro verifies your bank statements, online business accounts like Quickbooks, credit card receipts to offer you with a business loan.
Merchant cash advance and business loan from go torro helps you with the cash you need. So don’t wait another minute to find out how much cash you could be approved for all.
GoTorro Lending online application requirements:
This company does not charge an application fee. Instead of looking through tax returns or requiring hours of paperwork, multiple credit references, and professional appraisals, GoTorro simply looks at bank statements and credit card receipts to determine the size of your business loan.
Using a secured fax line or email address provided by GoTorro, applicants fax or email a copy of their most recent merchant processing statement summary pages. After verifying that the merchant accepts credit cards, GoTorro’s underwriting department contacts the merchant.
In under 48 hours, you could be approved for a loan amount between $5,000 and $500,000 without having to provide collateral.
Go Torro Funding Requirements:
Go Torro funding need to fax or email copy of a recent 4 months merchant processing statement summary page. So they can verify that you accept credit cards. Torro funding values your privacy so use the secured fax number or email address provided by torro once approved.
You will be contacted by their underwriting department promptly after they receive your online loan application.
Why Go torro Funding:
Ask any business owners what the number one thing any business needs and 7 times out of ten they’ll tell you working capital. Gotorro funding realises this is the very basic necessity of any business which is why gotorro funding programs are so popular.
From startup working capital to merchant cash advance loans, Gotorro has the right lending to help your business gain the sustainable loans it needs to grow.
There is no collateral required. Business owners with bad personal credit can apply for business or merchant cash advance at gotorro. They must have at least minimum 500 credit score requirement.
At Gotorro funding, business owners get merchant cash advance upfront in as little as 0 to 4 business days. Merchant loan is based on the percentage of your business credit or debit card sales.
- Must be in business min 6 months
- Apply now and get funded instantly.
Torro Loans Review On Startup Business:
Before you can turn your dream into a reality, you’ll need to find a dependable, flexible, and affordable source of funding that doesn’t discriminate against aspiring entrepreneurs who don’t yet have an established credit rating.
Torro offers startups the flexible terms they need for almost any type of business. To date, Torro has helped over 3000 businesses get the funding they need to jump-start their new business.
To find out how Torro can help you get the capital you need, simply click on the “Select Loan Option” button on their website. Chose “Start a Business” from the drop-down menu, and choose an amount on the slider between $5,000 and $575,000. Torro will match you with a lending program that specialises in funding your type of project.
For example, they can fast-track your connection to trusted lenders like Peer-to-Peer lending, Online lenders for Small Business, and banks. You could get funding on the same day you apply, depending on your lender and your individual financial situation.
Torro Funding for existing business reviews:
When your business is growing, it can be hard to keep up with expenses. No matter what you need a loan for, Torro can help. Existing business owners can expect to get funding for anything from hiring new employees to purchasing new equipment to expanding into a second location. Torro has helped businesses receive funds exceeding $500 million to date.
You can choose from a business loan or merchant cash advance. When you work with TorroLoans, you’ll never suffer through an asset verification, a business appraisal or extra paperwork. Even if your situation is unique, Torro can find the perfect lending partner to help you take your business to the next level.
You’ll even have access to private investors and brokers that specialize in funding challenging situations. Here are just a few of the projects Torro has funded through merchant cash advances and business loans:
- $32,000 to Sanderson & Sons Farming for capital to allow fulfillment of a large order from a new vendor
- $10,000 to Alleans Southern Cuisine within 72 hours after application to replace a broken stove
- $40,000 to Hokkaido for expansion capital so they could accept a partnership with their competitor’s main accounts
- $150,000 to Archie Comics in less than a week so they could buy a second location with a 10-day window to close the deal
You can fill out the online application or call one of GoTorro’s customer service representatives during normal business hours. Either way, you’ll get a dedicated loan expert who will help you find the right loan with terms that work for your business. Your representative can often secure funds in less than one hour. You’ll have access to the funds in just a few days.
Torro Funding Reviews:
What’s special about Toro is they work with a network of lenders to fund unique business needs. Like launching a start-up, purchasing a new business or expanding an existing one.
Here’s how it works after approving your application Torro sends you a list of relevant lenders to choose from. It makes the loan process much simpler.
The great thing about GoTorro is their broad network of lenders allows even high risk businesses the chance of getting a loan. There are no minimum credits or no collateral is required for funding. Merchant cash advance approval comes in under an hour.
In most cases Torro offers loans up to $500,000 with terms varying from 6 months to 10 years. Like Kabbage and Lending Tree, Torro also has an A+ Better Business Bureau rating.
So it’s definitely a solid option for quick funds to start or expand a business
Why chose GoTorro business funding?
This company helps thousands of small and medium-sized business owners (as well as entrepreneurs involved in a startup) secure the money they need to reach their goals. Many people just can’t meet the criteria set forth by traditional banks. Without Torro lending, they face long delays and potentially lose ground.
GoTorro Funding Group is dedicated to helping startups and existing businesses successfully secure the money they need to move forward. Their finance and business consulting experience helps owners and entrepreneurs quickly move through the approval process. GoTorro is committed to advocating for American businesses. As a business owner or entrepreneur, you definitely want GoTorro on your side.
Advantages of Go Torro Small Business Loans:
Easy accessibility of Funds:
If you have ever applied for a business loan to start or expand your business, you must have discovered that the procedure is long and tedious. Worse still, it may even take a whole month before accessing the funds applied.
This is not the case with business advances, since under normal circumstances it will only take you a maximum of 7 working days to get the funds.
Fast approval and Instant Funding:
Gotorro funding can approve and fund a merchant advance application within 0 to 4 business days.
Get Fast access to cash than any other loans:
It is due to less paperwork and simple approval process than traditional loans. you can get lump sum amount in as little as few days.
Best Merchant Cash Advance Loan for bad credit:
Irrespective of your credit score you can get business or merchant cash advance. It is because merchant loans are provided based on your business income from credit or debit card sales. If you project your future sales and prove you will pay back the loan with the agreed factor rate then you have better chance of getting a merchant loan.
Flexible repayment term:
Daily or monthly repayments It depends on your business sales. You can customize your merchant loan repayment term with the lender. Unlike traditional loan, where repayment is fixed, for the entire term. Here you can pay back based on your sales.
Most of the seasonal business owners don’t have regular cash flow. In MCA, repayment can be made with a fixed percentage on your regular sales. If you have good sales on a particular day or month then repay more and less during slower sales periods.
No collateral required:
The fact that gotorro funding offering merchant cash advances do not ask for security, is always a huge relief to many business owners. The same cannot be said for traditional loan.
With the later, most financial institutions require the business owner to offer a valuable asset e.g. home, owned commercial building as collateral.
This could be very risky for the business owner because in the event of failure to honor the loan agreements, the financial institution could sell their collateral.
The procedure of approving a merchant cash advance loan is quite quick. Gotorro funding offering business cash advance, if qualified approves within 24 hours.
This is unlike a small business loan where approval of documents required could take forever. This could be highly frustrating to the business owner, since the funds could be urgently required.
Over 90% approval rates at GoTorro Funding:
Once you prove that you have good cash flow from past 6 months, then you are almost guaranteed of merchant cash advance loan. However, for a business loan, you have a 50-50 chance of securing the funds despite the fact that your business may be doing very well. This high approval rate has led to many business owners opting to go for business advances as an alternative business funding solution.
Fixed monthly payment not a must:
When you take up a business loan, you are required to pay fixed amount every month. And this is irrespective of whether the business is doing well or not.
This can be highly stressing for a business owner particularly in periods when the business is down, and not doing very well.
For a merchant cash advance loan, the business owner is at great liberty to make repayments. Depending on how well the business is doing daily, weekly, or monthly.
This means that in situations where the business is not doing particularly well, the business owner may pay up lesser amounts.
No personal guarantees:
Unlike with bank business loans, there is no collateral required with merchant cash advance loans. And this is a huge advantage that makes many business owners fall in love with business cash advances.
Merchant cash advance loans have been of great benefit to smalls business owners. Who hardly get cash, when it comes to business loans.
Merchant Cash Advance Loan Factor Rates:
Merchant cash advance is the factoring of the future credit card sales at discount. Average of 1.41 factor (29% discount rate). Better rates are available at gotorro funding.
The loan amount is calculated based on the percentage of your business credit or debit card sales. Even using daily cash balances of credit card receipts or bank statements to offer you with a cash advance.
Business owner’s pays back the merchant advance loan with percentage or discount factor from the portion of your credit or debit card sales. Repayment will be weekly or daily, as agreed till the entire loan amount is paid back.
What will be your factor rate for merchant cash advance?
A factor rate from 1.2 to 1.5 varies for each business. It depends on the length of your time in business, type of business, and your average monthly sales.
For example: If you borrow $50,000 merchant cash advance at 1.2 factor rate, you need to repay a total of $60,000. Now, let’s see how much daily or monthly repayment comes up to you.
$50,000 X 1.2 = $60,000 loan
Suppose, the loan $50,000 is for 12 months term.
Divide $60,000 by 12(months), gives you $5000 per month. You will pay back $5,000 per month up to 12 months.
Some lenders don’t include weekends or holidays. So they consider only 21 days in a month for borrowers to make repayments. Now, you divide $5,000 by 21 days (per month) = $238 per day. So, you will need to pay back $238 per day up to 12 months. Total of 252 daily deductions (automatic withdrawals) of $238 until the amount of $60,000 is paid back.
Advantage of MCA loan at Go torro Funding:
- No collateral required
- Flexible repayment terms
- No prepayment penalties
- Multiple lenders available at gotorro marketplace, can get quick accesses to cash.
- Bad personal credit score OK.
- Easy to get qualified at torro.
- Fast & easy approval process.
Disadvantage of MCA Loans:
- Higher rates
- Reduces cash flow with daily ACH from merchant account.
- The cash advance repayments is not reported to any credit rating agencies
Use Merchant Cash Advance loan for any business purpose.
- Pay off bills
- Purchase inventory
- Upgrade equipment
- Pay taxes
- Emergency expenses