Loan terms

  • How much financing can I get?

    Up to $500,000.

  • What is the rate & fee?

    Rates are always the same — 1.5% weekly.

    There is a $150 transaction fee for every funding transaction.

  • How long do I have to repay?

    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.

  • Can I pay back early? Will I save on interest if I repay early?

    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.

  • Does Payro cover other expenses other than payroll?

    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.


Am I Eligible?
  • What do I need to qualify?

    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.

  • Are all states eligible for Payro services?

    Yes. There may be some restrictions in certain states that make the program slightly different. Contact us to find out more.

  • Which documents should I prepare

    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!

  • How do I request financing?

    Apply in minutes through our portal here.

    After your initial approval, we’ll let you know how much you’re approved for, and you can request funds anytime through the portal or the Payro app. See how it works →

  • When is the deadline to request financing?

    For same day funding, request by 2PM EST Mon-Fri.

  • How long will it take to get approved?

    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).

    Learn more about how it works →

  • What is the underwriting process?

    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.

  • How quickly does the money come in?

    Once you’re approved, you’ll get funds by wire within 1 business day.

    • For requests before 2pm EST, funds will hit your account that same day.
    • For requests after 2pm EST, funds will hit your account the following day.

    When you requested

    Before 2 PM EST
    After 2 PM EST
    Requested on anon-business day(Saturday, Sunday or bank holiday)

    When funds hit your accounts

    Same-day funding
    1 business-day funding* *If tomorrow is Saturday, then your funding will come in on the next business day. 
    Next business-day funding

    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.

  • What if my payroll is more than the amount 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 →

  • I got my funds. How long must I wait before I can apply again?

    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.

  • Can I request new financing if I have an open balance?

    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).


  • I’m having trouble with the portal

    Give us a call at 1-833-271-4499, or reach out to us here we’re waiting to help!
    Our hours are Monday – Friday, 9am – 5pm EST.

  • Will applying to Payro impact my credit?

    No, applying won’t impact your credit scores.

Contact Us

Didn’t find the answer you were looking for? Contact us here, or give us a call at 1-833-271-4499. We’re happy to help!

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do it as a backup for your business

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