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Torro Reviews


bestfor-icon Fast loan approval and quick access to funds

Written by Andrew Omalley

About Torro | Read More


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  • 1-866-858-2404
  • Headquarters: 5965 S. 900 E. Suite 300 SLC, Utah 84121
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Torro Business Loans Review

Torro Loans is a marketplace that pairs you up with some of the best lenders of business loans in the US market. It caters to people in every state and you can get funding if you are a startup or an existing business.

While Torro does not offer the largest loan amounts, they will be sufficient for a lot of business needs. The time to funding can be quite quick and flexible repayment terms are often available.

Torro Business Loans Highlight


Loan Amount

3-24 months

Repayment terms


Soft Credit Pull


Lender Type


Other Fees


Origination Fee


Prepayment Fee

24 Hours

Funding Time

6+ Months

Time in Business

Pros & Cons

  • con-icon Startups and existing businesses can get funding
  • con-icon Simple online process
  • con-icon Fast approval time and funding period
  • con-icon No collateral necessary
  • con-icon Not too many loan requirements
  • con-icon Not much customer support at the weekend

Business Loan Types

  • Working Capital Loans

Torro Business Loans Terms & Requirements

Torro Loan Requirements: There are two main types of loan options available through Torro business funding. One of them is for more established businesses that have been operating for at least six months. You can get access to the likes of business capital, equipment financing, and expansion funding. The most significant loan of this kind you can get from Torro is $575,000. Monthly revenue of at least $10,000 is necessary, with typical term lengths being 3 to 24 months.

Startup companies can also get access to up to $125,000 in funding. These companies need to have been in business for no more than 6 months and their max revenue is $5,000 a month. Usually, Torro business loans like dealing with startup business owners whose credit score is at least 600. The typical term length is between 12 and 48 months.

For both types of business loans, there will usually be an origination fee of about 5% charged. Prepayment fees usually aren’t in place, but the other types of fees will depend on what lender you ultimately go with.

Qualification Requirements

  • Existing businesses need to be in operation for at least 6 months
  • Credit score of at least 600 preferred
  • Monthly revenue of at least $10,000
  • Available in every state 

Required Information

  • Tax ID info
  • Social Security Number
  • Tax returns
  • Three months’ worth of bank statements
  • Loan amount required

Application Steps & Time Frames

The entire application process can be done online through the Torro business funding website. You also have the option to do it over the phone if you prefer. In just a few minutes you’ll have finished the application, providing info like your business income, credit score, and industry type. A soft credit pull occurs at this point in time.

Once submitted, you will be presented with loan options. If you like one of the offerings, you can submit an official application to that given lender. It will require a bit more detail and you’ll have to supply certain documents usually to verify the info you provided.

A hard credit check takes place at this point in the process. Approval can often be within an hour or so of submitting this application. Time to funding varies, but many lenders will provide you with the money in about 24 hours.

State Availability

- Available in all states

Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.



How quickly can a business get access to funds through a Torro loan?

Once your application gets approved by Torro, you can often have access to your funds in just 24 hours.

How much money can a startup borrow through Torro?

If you are looking for startup capital, Torro can provide you with unsecured working capital of between $25,000 and $125,000.

Does Torro require businesses to provide collateral for loans?

Businesses are not asked to provide any sort of collateral in order to get a Torro loan.

Customer Support

There is a chat option available through the Torro website that can be used to communicate quickly with the support team. The lines appear to be open during the week. Telephone support is also available from Monday to Friday, but the Torro website does not disclose the exact opening hours for this service.

Finally, email support is an option, and you can usually expect to get a reply within 24 hours. The Torro does not have a considerable amount of information, but there is enough to answer the basic questions you might have.

Privacy & Security

Torro Funding has developed a good reputation since it started operating in the business loans space in 2015. It has an A+ score from the Better Business Bureau, with highly positive customer reviews.

The entire process takes place online through a secure portal. When you submit the necessary information and documents relating to your business, they will be fully encrypted during the transmission. It makes sure that there are no weak links throughout the entire process.

In Conclusion

Torro certainly is going to be a viable option for a lot of startups and small businesses. If you’re looking for seven-figure loans, you will need to look elsewhere. The entire application process is very straightforward, and approval for your loan application can come in about an hour. Torro does not require any collateral to be put up, and there is a low barrier to entry.

Brand Disclaimer

All funding are subject to credit approval and normal underwriting standards. Minimum and maximum funding amounts, rates, fees, terms and collateral requirements are subject to specific guidelines and may change without notice. All funding are made under Torro Funding LLC of Utah or its affiliate investors. Available cash amounts may vary and collateral requirements apply.