Results 1 to 6 of 6
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04-19-2018, 11:47 AM #1
Reputation points: 10
- Join Date
- Sep 2015
- Posts
- 6
Start up/Low Revenue funding. Let Torro monetize your leads
We at Torro (www.GoTorro.com) have been in the cash advance/ACH industry now for several years. We all spend thousands of dollars a year on leads that we end up throwing away due to not having the revenue or credit to get funded. That is why 4 years ago we came up with the SLOC program. It is a lines of credit/credit card program where we can get your merchants anywhere between 25-100k at 0% APR for 12-18 months. There is no minimum revenue required. Merchant could be pre revenue. We do a soft pull to get an offer. Merchants will usually have funding within 7-10 days if there are no stips. If there are stips, we are looking at more like 14-21 days. The big difference with what we do and your merchant just getting a business credit card is that they can convert into cash at that 0% APR rate. So if your merchant is looking to buy a business, equipment, piece of property, needs to make payroll, etc. they can do a transfer online to make that happen. Doing this they don't have to worry about the high cash advance fees or interest rates that traditional credit cards charge. There are no upfront fees for the merchant, they use the funding they get to pay our service fee which is where our ISOs make their money. We offer a custom built funding CRM to our ISOs so they can track their merchants throughout the process.
Merchant Requirements:
700+ FICO
No BKs in last 4 years
Less than 4 hard inquiries on each reach last 6 months
If merchant does not meet these requirements they can attach a cosigner. They do not need to have any ownership in the business, just need to meet the above requirements.
Give me a call so we can get you registered and help you monetize the leads you have.
Rick Mele
ISO Relationship Manager
801-441-7943
rick.mele@gotorro.com
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04-19-2018, 12:07 PM #2
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
How is this different than Seek Capital?
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04-19-2018, 12:48 PM #3
Reputation points: 10
- Join Date
- Sep 2015
- Posts
- 6
Seek and us are in the same space, we offer a similar program, we offer a slightly higher pay out structure.
Last edited by Rick@GoTorro; 04-19-2018 at 01:14 PM.
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04-19-2018, 12:59 PM #4
Reputation points: 12878
- Join Date
- Jan 2016
- Posts
- 435
We have been working with Torro for some time now. They are quite easy to work with and they do offer a portal to track all submissions and where the merchant is in the process. Commissions are paid promptly and Torro has been great at keeping in communication with us if any issues arise. They are almost identical to Seek but if you are not signed up with either Torro is a good option in my opinion.
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08-17-2018, 08:50 PM #5
Reputation points: 10
- Join Date
- Jan 2017
- Posts
- 2
We appreciate your review!! Let us know if there is anything we can do to help. We have a lot of great things going on right now!
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08-20-2018, 12:43 PM #6
Reputation points: 28
- Join Date
- Nov 2015
- Location
- Long Beach, CA
- Posts
- 54
Interested in signing up. Send me an email when possible newdeals@thinkon3.com
Al
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