Tongo is a commission-backed line of credit that offers Douglas Elliman agents access to the capital they need to grow their businesses. Plus, it’s private and costs as low as 3% per 30 days.
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.
Use your approved advance 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 and you only pay for what you use. Come back to your advance as many times as needed before a deal closes.
STEP THREE
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 only the amount of the line of credit used. If you don’t use any of your credit line, there’s nothing to pay.
