Up to $500,000.
Rates are always the same — 1.5% weekly.
There is a $150 transaction fee for every funding transaction.
You can choose — you have between 1-4 weeks to repay. 4 weeks (28 days) is the max period you can withdraw the funds for.
There are no early payment penalties.
Yes, you can pay back early — there are no early payment penalties. Rates are 1.5% weekly, so if you pay a week earlier, you’ll avoid that week’s interest.
No, Payro is a unique loan just to help businesses cover payroll. (Payro isn’t available for payments to freelancers or outside contractors who aren’t paid through payroll).
This keeps the process fast and easy compared to other loan & lines of credit alternatives.
A minimum of 5 employees, two years in business and at least 25k in monthly revenue. Click here to see more about eligibility.
Note: Payroll must be processed via an accounting software or payroll company to be covered.
Yes. There may be some restrictions in certain states that make the program slightly different. Contact us to find out more.
A payroll report so we can verify payroll amounts, and your business bank statements for the last 6 months (or you can link your bank account when you enroll). That’s all!
For same day funding, request by 2PM EST Mon-Fri.
Following your application, a Payro underwriter will reach out to you within 1 business day to gather documents and process your application.
You will usually hear back with the final decision within 1-2 days (during which our underwriters review your documents).
The underwriting process is simple: You apply online here, and connect your bank account or upload bank statements + payroll report when prompted. No other documentation is needed.
Our underwriters will analyze your bank statements, and reach back to verify your identity and specific needs.
Once you’re approved, you’ll get funds by wire within 1 business day.
If you haven’t yet been approved for funding — apply here (it takes just a few minutes). It typically takes just 2 days to get approved.
You can get funded up to your maximum approval, and can always apply for an increase.
Our underwriters will review your financials, re-evaluate, and let you know if you’re eligible for more funding.
See more about how it works →
No need to apply again! Once you are approved and your repayment has cleared (2 business days), you can request the second round of funding immediately.
Payro is like an emergency account that refills every time you repay, so your credit limit is always available.
Yes, if payments are up to date, you can request up to your maximum approval.
Request funds directly on the Payro portal, Payro app, or call us at 1-833-271-4499 (M-F, 9am – 5pm EST).