APRIL 29, 2021 – Torro, an innovative finance firm, is at the forefront of offering alternative business loans to help “fund dreams”. Recognizing the immense obstacles that prevent small businesses from obtaining traditional bank loans, Torro has been working to find solutions to this through alternative financing since 2015.
With a rapidly growing platform and rock solid team, Torro has purchased future receivables from thousands of companies, amassing more than $32 million, and maintains strategic partnerships with business owners and investors across the United States.
With Torro’s alternative business loans, start ups and existing companies are eligible to receive capital for critical purchases, material and technological investment, along with a range of other key business costs. Securing capital is typically the largest hurdle a small business has to overcome, and alternative financing gives these emerging players a fighting chance.
Business owners are able to utilize Torro’s alternative financing options for immediate needs such as securing office space, payroll or emergencies. But Torro sets themselves apart with their flexible structure, designed to suit a variety of scenarios. They give companies options for long term solutions, like down payments and acquisitions, franchise investments and even partnership buy-in capital.
This model was devised to help launch more great ideas and keep existing businesses from going under, even when the market is at its most unforgiving.
Alternative financing for business has become increasingly popular as SMEs struggle to overcome the obstacle of securing capital. Now more than ever, start ups and small businesses have been unable to receive or even qualify for funds to ensure their venture stays afloat.
This urgent need has been recognized by online lenders like Torro, who have less stringent requirements than banks and can distribute capital quickly. Many other platforms have also turned to online lending, like ecommerce powerhouse Shopify, who doles out sizable sums in MCAs to help get the “little guys” off the ground. With this unconventional model, more and more start ups and businesses are able to thrive.
Alternative financing for business isn’t a new concept and has been utilized since the early 2000s. Today, there’s more backing for this financing strategy than ever from big name venture capitalists, as well investors across the world.
More information about Torro’s alternative business funding solutions can be found here: https://www.torro.com