High-speed, low cost payroll funding

Everything you need to know about PAYRO’s payroll financing program

Terms

✓ Rates as low as 1.5%
✓ Financing up to $500,000
✓ Same-day funding

Prequalifications

✓ 2 years in business
✓ At least 5 employees
NOTE: This loan can only be used for payroll.

How it works

Approval

Following your application, a PAYRO underwriter will reach out within 1 business day to gather some documents and process your application.

PAYRO will review and analyze your documents and will have a decision within 1-2 business days.

Documents you’ll need:

6 months of bank statements (financials are not required).

Funding

Once your business is approved, financing will be fully integrated within your payroll service.

You can also request funding through the PAYRO app.

Timeline:

PAYRO will process your request and wire the funds directly into your account same-day to ensure your payroll is covered on time.

Repayment

You have up to 4 weeks (28 days) to repay the funds you’ve borrowed.

Simply tell PAYRO the date you want to pay back your loan within those 4 weeks and we’ll draw the entire amount plus relevant fees on the date you requested.

Early Payments:

There’s no ‘early payment’ penalty.You can choose to repay the loan at any time throughout the 4 week period.