Balboa Capital

• Industry Experience
• Fast Approval
• Loan Options
• Business Resources
• Balboa Capital Reviews

Industry Experience

BBalboa Capital has been around for a long time-much longer than many of its competitors. This level of experience, success, and stability is an important quality in a lender. 

Fast Approval

Lending with Balboa Capital is faster and easier than lending with a bank. 

Balboa Capital has a simple online application process and utilizes automated decision technology to review and process your application. Credit decisions are instant and there is minimal paperwork involved. Balboa Capital is a direct lender, which means the company can provide customers within one business day in some cases, with no middleman markup or broker fee. 

By contrast, banks can take weeks or even months to disburse loans after they have been approved.

Another difference between Balboa Capital loans and bank loans is eligibility. Balboa’s eligibility requirements are easier to meet than a bank’s criteria. All credit is considered above a “decent” FICO score, provided the business has been operating for at least a year and has $300,000 in annual revenue. 

Loan Options

Balboa Capital is a technology-driven lender with nationwide coverage of the following loan types: 

• Equipment financing
• Small business loans
• Business line of credit
• Commercial financing
• Franchise financing
• Vendor financing

Loans range from $5,000 to $250,000 and term lengths vary between 3 to 18 months. You can repay your loan daily or weekly through an ACH transfer from your bank account. This repayment schedule allows you to make frequent and smaller payments instead of larger monthly payments. 

Balboa Capital offers unsecured loans, which are a good option for small business owners who do not want to put up personal or business collateral when receiving funding. Plus, the application process for unsecured loans requires far less paperwork than for secured loans. 

You can use funds for nearly any business need, including the following expenses: 

• Pay suppliers
• Business expansion
• Payroll
• Marketing
• Inventory
• Business taxes 

Business Resources

The company offers several business resources on its website including a small business loan calculator, equipment lease calculator, section 179 calculator, small business blog, small business whitepapers, and small business infographics.  

Balboa Capital Reviews

Balboa Capital reviews are mostly positive, highlighting competitive rates and loan amounts, affordable monthly payments, excellent customer service, and a quick application and funding process. Positive reviews can give businesses interested in Balboa Capital peace of mind knowing previous borrowers found the company to be a quality lending option. 

• Unclear Credit Requirements 
• No Startup Funding

Unclear Credit Requirements 

There's no clear indication of what a potential customer's credit score must be in order to borrow from Balboa Capital. The corporate website says all credit is considered, yet in a list of requirements it lists “decent” credit as essential. This ambiguity has the potential to raise hopes for prospective borrowers with fair or poor credit, even if approval is unlikely. 

No Startup Funding

Although Balboa Capital is a direct lender, it does not provide funding or other financial solutions to startup companies.