Torpago is a newer money management system similar to Brex and Divvy. The system integrates with accounting software to track spending, and they also offer corporate cards. They report payments on these cards, helping to build business credit.
Reviews
Given that the company likely to go public soon, their Board of Directors will be beholden to shareholder demands. This is as opposed to the requests of either borrowers or employees.
Furthermore, the company seems to shunt all small business loans off to OnDeck, anyway. It seems the best action for a small business owner to take is to bypass the middleman and go straight to OnDeck.
Growing business credit pays off. Excellent business credit scores help a company get loans. Your lending institution knows the company can pay its financial obligations. They recognize the company is bona fide. The small business’s EIN attaches to high scores, and creditors won’t feel the need to demand a personal guarantee.
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