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Balboa Capital is one of the older independent lenders that you can find on the internet today. Founded in 1988 and based out of Irvine, California, Balboa Capital initially made its reputation primarily on providing equipment leases. Today, Balboa Capital offers many more funding options including small business loans, corporate financing, vendor financing and franchise financing.

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The Good

  • Industry experience
  • Fast approval
  • Perfect credit not required

Industry Experience

Balboa Capital has several good qualities that make it an appealing lender to businesses looking to borrow money. For starters, Balboa Capital has been around for a long time-much longer than other lenders. Their time in the business (since 1988), gives us the impression that they are a stable and trustworthy lender. This level of success and stability is obviously an important quality in a lender.

Fast Approval

Balboa Capital offers is a five day loan disbursement on approved loans, which is fast when compared to other lenders. Banks can take weeks or even months to disburse loans after they have been approved, so receiving these funds that quickly is noteworthy. (We will say, however, that five days is not the quickest we have seen, so if this is your main draw to Balboa Capital, then you should definitely keep shopping.)

Perfect Credit Not Required

One thing that Balboa Capital offers prospective businesses who want to borrow is the ability to borrow funds without having perfect credit. Although we wish the Balboa Capital website would define exactly what they mean by this, these statements suggest, at the very least, that they are more accommodating than many other lenders such as big banks.

Unsecured Loans

In addition to offering loans to businesses without perfect credit, Balboa Capital offers unsecured loans. Unsecured loans can be better for many businesses who do not want to put up personal or business collateral when receiving funding.


In summary, these are the benefits of Balboa Capital:

  • Long history in the business
  • Five day loan disbursement
  • Perfect credit not required
  • Unsecured loans
  • No hidden fees

The Bad

  • Lacking information
  • Broken loan calculator
  • Limited requirement info

Lacking Information

Like many online lenders, Balboa Capital's website lacks some vital information that we would need in order to make an accurate assessment. The illusion of the Balboa Capital website is that it looks robust, but often does not provide concrete details. Information that is missing from the Balboa Capital website include:

  • Clear information about the interest rates
  • Time in business requirements
  • Details about prepayment penalties or other fees

Broken Loan Calculations

The loan calculator doesn't work properly. No matter what annual revenue is entered, it will always respond by saying that qualifying borrowers must make over $150,000 in annual revenue. This calculator also requires an email and phone number, making it seem that it is actually more of a marketing tool than a legitimately helpful tool for prospective borrowers. We can assume through this calculator that it is a requirement to have $150,000 in annual revenue, but we cannot say for certain since the calculator seems dysfunctional in responding to the credentials entered.

Limited Requirement Info

Likewise, the Balboa Capital site talks very little about what is actually required to qualify for a loan. The only detail we get about who can qualify is when they say "Perfect credit isn't required." No specific scores are ever mentioned.

The Bottom Line

All in all, the bottom line about Balboa Capital is that they may be a better option for equipment leasing. From their website, it appears that their business success has been based on equipment-specific lending, and that may be where they really succeed. Their business began as an equipment lender, and so it makes sense that that is their most developed area of funding. When it comes to small business loans, Balboa Capital does seem to be just as, if not more transparent than other companies in the industry; though, it still has work to do. If a prospective borrower were interested in pursuing Balboa Capital more they would need to contact them and dig deeper to find out the necessary information to make an informed decision. As it is, we do not have enough information from Balboa Captial to make an honest recommendation. 

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