The first commission line of credit, built for real estate professionals
Get the capital you need for financial continuity and business growth. Draw up to 75% of a pending commission up to 60 days early for as little as 3% for 30 days.
Tongo is a line of credit built for real estate agents.
Better Access to Capital
-Draw up to 75% of a pending commission up to 60 days
-Almost instant access to funds
Reasonably Priced
-Industry leading rates as low as 3% per 30 days
-Reduce reliance on high interest credit cards
Fast & Flexible
-Minimal documentation
-No broker approval for qualified agents
How it Works
Stabilize, invest, and grow in 3 easy steps.
Join
Sign up takes less than a minute. Then simply tell us about your pending deals to build an available limit. Limits are based on pending commissions, production, and payment history. Upload multiple deals to build a higher limit.
Draw
Use your approved line of credit by instantly transferring funds to your checking account or by making purchases with the Tongo card. Either way fees are as low as 3% per 30 days. Come back to your line of credit as many times as needed before a deal closes.
Repay
Tongo gets paid when you get paid. When your deal closes and you receive your commission, your Tongo balance for that deal is due in full. Fees are charged on the amount of the line of credit used. If you don’t use any of your credit line, there’s nothing to pay.
Tongo Reviews
Here's what Tongo members have to say:
Using Tongo has been a breeze, truly a convenient choice for handling my commissions. It’s a refreshingly straightforward approach, compared to the cumbersome processes I faced with traditional commission handling methods.
Nancy Nelson, Better Homes and Gardens Real Estate
I use Tongo to pay certain business expenses that are scattered throughout the year, particularly when funds aren't immediately available. With Tongo, I always have access to my commission, regardless of any delays I might be facing on my side.
Ryan Siciliano, Douglas Elliman
Tongo has been a game-changer for me in the real estate business. What I adore most is their top-notch customer service—super prompt and always ready to help. Plus, the fees are incredibly competitive! I've already sung Tongo's praises to other agents. It's transformed the way I handle commissions.
Kimberly Vetter, RE/MAX
FAQs
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Your Tongo balance is due in full when your deal is closed. If a deal closing is delayed, the due date adjusts accordingly. If a deal falls through, your next deal will be your replacement deal, and the Tongo balance is paid in full when your replacement deal closes.
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Residential sales transactions that are scheduled to close within 60 days are eligible for a Tongo commission-backed line of credit. Residential leases are also eligible for a Tongo commission-backed line of credit.
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When you apply for Tongo, we may perform a soft credit inquiry which has no impact on your credit score.
Unlike hard credit inquiries, soft credit inquiries, also known as soft credit pulls or soft credit checks, are reviews of your credit report that do not affect your credit score.
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For qualified agents, Tongo does not require broker approval.
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The Tongo card lets you conveniently make purchases with your approved line of credit limit anywhere Visa is accepted. You’re not required to use it and can always simply transfer funds instantly to a linked bank account.
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Tongo is not a loan or a credit product. A commission-backed line of credit is Tongo purchasing a future commission with the promise of repayment for a reasonable fee. Factoring can help businesses improve their short-term cash needs by selling their receivables in return for an injection of cash from the factoring company.