Founded in 1988 and based out of Irvine, California, Balboa Capital is one of the oldest independent finance lenders that can be found on the internet. The company initially made its reputation by providing equipment leasing and equipment financing services, but today, Balboa Capital offers a number of financing options.
Balboa Capital financing options include small business loans which provides fast cash without collateral, commercial financing which includes middle market programs of up to $100 million, vendor financing which increases sales and profits, franchise financing which provides financing for FF&E, PIPs, and re-imaging, equipment leasing which offers same-day funding of up to $250,000, and business cash advances which is a flexible option to manage working capital needs. Consumers that choose Balboa should remember that they must have a credit score of 550 or higher and funding is not available to startups.
Balboa Capital has several good qualities that make it an appealing lender for businesses looking to borrow money. For starters, Balboa 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. Balboa Capital has provided services to small businesses, equipment vendor organizations, franchise owners, and middle market executives nationwide
Balboa Capital is a direct lender, which means the company can provide its customers with cash in less than two days with no middleman markups or broker fees. Banks can take weeks or even months to disburse loans after they have been approved, so the ability to receive funds this quickly is noteworthy. Balboa Capital has a simple online application process and claims on its website that it has "one of the fastest funding processes in the industry."
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.
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 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.
Balboa Capital's website provides very little information about loan qualification requirements. There's no online indication of what a potential customer's credit score must be in order to borrow from the company. Balboa Capital also doesn't have much information regarding customer service and personal guarantee on its website in comparison to other finance lenders.
Although Balboa Capital is a direct lender does not seem to provide financial solutions or funding to startup companies.
Their lending is what I would consider predatory. Our loan agreement is as explained by the person loaning us the money was poor at best and a flat out lie. You will pay all of the interest on you loan even if you win the lottery and can pay it off the next business day. They intentionally do not put numbers on the loan agreement like total as it is disguised so as to hide what you are actually paying. Do not Use these Jokers.
SCAM ARTISTS / SCUUMBAAGS ! KEEP CHARGING ME $316.31 EXTRA PER MONTH, FOR NOT HAVING INSURANCE WHEN I HAVE INSURANCE AND EMAILED IT TO THEM SEVERAL TIMES !!! WARNING DO NOT DO BUSINESS WITH THEM. I HOPE THE OWNER GOES TO JAIL JUST LIKE SCOTT T (PAYDAY LOAN SCAM) DID AND GETS EVERYTHING TAKEN AWAY FROM HIM AS HE SHOULD !
Balboa Capital's review score is 22.4% lower than the average review score of the top recommended Business Loans Company
i CAN'T GET PROPER DOCUMENTS I CAN'T GET A RESPONSE NO ONE ANSWERS THE PHONE NO ONE RETURNS EMAIL. TERRIBLE
BEWARE - I was a few days late (4 days) on my payment so they sent out someone to threaten litigation on me and then charged me an additional 95.00 for that person to come to my office. Additionally 2 days later they took money out of one of my accounts without my permission. I'm disputing with bank - Beware of this bad company - they are breaking the law with their collection practices.
Do not use this company. They will not work with you at all in removing the non-insurance fee. We have had our own insurance from the beginning and given them proof of it repeatedly. There was a slight address discrepency that I have done my best to resolve. At last telephone conversation I had with them I was told to simply send them the correct address and they would change it on the contract so the two match. Now this morning they sent me an email requiring me to completely start over with submitting the insurance proofs. It is stupid because I have sent them recently. Nothing has changed with them. The equipment has never moved. The insurance policies reflect the proper address. They have to change the address on the contract and they refuse. I believe they are stringing me along to continue to receive the unearned fee of about $165 per month. DO NOT USE THIS COMPANY. I WOULD GIVE THEM A MINUS RATING IF AVAILABLE. Bob Holdeman Covenant Millwork Inc.
Rally that was nice service. There good behave
There were hidden fees and no cooperation to remove them when, for instance, they were charging me a"penalty" for no insurance coverage. Whenever I proved this insurance coverage, they continued to charge the fees for over a year. I finally had to report them to lending governing associations to get them to attempt to refund my "penalties". Once again, I proved insurance coverage from day one. Who would NOT provide insurance coverage on building, contents, and slip and fall these days????
So far things have been good. Their customer service is very good, they have awesome people who respond quickly. Everything was very easy and quick.
They called me and convinced me to get a loan. I'm not satisfied at the moment because they are charging me and that was not in the initial agreement.
I'm glad I got their loan, they made it very easy. I have no issues with them. They were just very good to work with.
They were recommended by our franchiser. Getting the loan was a fairly easy process. Everyone involved was just really nice, kind, and very helpful. They were very concerned about making sure all the information was accurate.
I'm glad I went with them. There was almost no work involved when processing the loan, I just contacted them and things were taken care of very easily and it didn't take too long. The person that I dealt with was super friendly, customer focused, and just very professional. It's easy to get in touch with them through email or phone, and they have been there for me during every part of the process.
I have mixed feelings on them. I had dealt with them before but this time I went through a John Deere dealership and they offered me the loan. The interest rate was a little high, but I thought that would be alright since the processing seemed to be simple. I didn't think getting the loan would be that much trouble, but doing all the paperwork was a bit of a chore. That took too long. Other than that, I don't have any problem with them.
Our company picked it as one of the financing systems for our equipment. Their communication was great, I would get callbacks in 72 hours or less. The person that helped me actually followed up with me every day to make sure that I had everything I needed. He was immediately available for anything.
The process to get the loan just seemed to be harder and take longer than it should've. I mean, the guy that I'm personally working with is fine. He has answered my calls and has gotten back to me right away with the answers that I needed. The problem came with the paperwork, all of that turned into a fiasco. They just seemed to add more and more paperwork for me to sign. It got kind of annoying.
We didn't really choose them. They were offered to us by the vendor, but we're glad we got the loan. The reps are pretty good, they helped us throughout the process and handled everything professionally and quickly. Whenever we had questions they would get back to us right away with the answers.
It was easy to get a loan with them and their rates are good too. The gentleman that I dealt with was very polite and professional.
I'm glad I chose them. It was easy to get a loan and they answered all my questions immediately. If any problems came up, they also took care of that. It's a pretty good company.
Somebody offered it to me. Getting the loan was pretty quick and customer support always answers me when I call.
My experience just wasn't any good at all. At first I had agreed to a payment of $4400 a month but the very first charge that came through was of $6700. It's fine that they want to charge for everything they do, but they need to tell you that upfront. That was what made me upset. Right now I'm trying to get back $3280 from a different loan that didn't go through. I ended up paying for that in cash, so now I'm fighting to get that. I haven't heard anything from them yet, I'm very disappointed
They actually called me and I talked to a representative about it all. I'm glad I used it. It doesn't take too long to get your loans finalized and everything is a good deal price-wise. The agent that I dealt with did everything the way he was supposed to and it went well.
I had used them before, that's why I went with them again. Getting the loan was easy. It wasn't long an arduous, we just went along with it. It went pretty quickly from start to finish. Customer service has gotten back to me immediately with the few questions that I've asked.
My son was the one that selected the company. He works as a salesman and Balboa was recommended to him by 2 or 3 different people in different agencies. I'm glad we went with them. The process was very easy and we were through with it very quickly. They were also very accommodating through it all. If we have future needs we will check back in with them.
Customer service is very friendly and very nice. They are also fast.
They offered me three different loan rates and I was able to pick the one that fit me best. Their sales reps are very helpful and are always there when I call. It's a very good company.
I went with them because I had used them before. Since they already had my information it was very simple to update that and get a loan.
The service was offered to me and I got it since the rates were interesting. They were just lower than the other services I looked at, so I went with it. I haven't really had to interact much with them though.
They were the best partner for me. They just provided great service at a reasonable rate. Besides, they made the process very simple. I had a great rep. Thanks to him I didn't have to chase them down all over the place just to get answers to my questions.
They offered us a good deal so we took the loan. The process was easy and their customer service was great. They always got back to me when I contacted them.
They were great. It was easy to work with them.
We had a previous relationship with them since they helped us financing something some 5 or 6 years ago. When we needed it again, we just called them, though right now we're not particularly happy with them. The process to get a loan took us months when it should've taken just a few days. We literally worked with him for almost 2 months. They were just not very responsive this time around.
I got it since, upfront, their statement sounded reasonable in price. They have poor communication though. They didn't respond to my emails or answer the phone when I called.
They had contacted me a number of times over the years. When the time came when I needed the loan I called them. I'm happy I went with them. The process was quick and easy, it didn't require a lot of documentation. Customer support is good, though sometimes it's a little bit difficult to get information from their website. They could improve that a bit.
They are very prompt and informative.
The salesman convinced me of going with them. We had a hard time getting the loans approved. There was really no reason for it, they just kept asking for more and more information before we could get our $7500 loan. Their agent was good though.
I got the loan since the payment schedule looked good. The guy I talked to was great. We ran into a couple of issues with the payment schedule and set up. The first payment came in too early and I talked a lot with him about it all. He kept a watch on everything and kept on communicating with me. I'm satisfied. I think it's great for small businesses. There's always someone there trying to help you and you don't feel like you're just talking to a machine.
They have to make their online platform better. Sometimes we have a hard time making payments or loading up our accounts. It can be confusing to try and figure out what you're doing in there. Still, it's easy to get in touch with customer service, either through phone or email. The service is good.
I'm glad I went with them. Their customer service is very friendly, though they don't return all your phone calls and emails.
The individual that I dealt with was very professional and driven. He made the whole process very easy for me. He was always on top of his game and always followed up with me.
I found them on the internet and thought getting a loan with them would be good. They are easy to work with and they answered all the questions that I had. I'm glad I did it, it was easy.
I chose them after seeing their advertisements. The loan was great, but they are lacking in communication. They don't really return my calls. They need to be more upfront about things from the beginning.
They are very easy to deal with.
I'm glad we got it. Initially we got a loan from them almost through a dealer of sorts but since then they've helped us finance other things for our business. They're easy to get along with and, whenever we need capital for anything, they're quick to get back to us. We've just built great relationships with them.
William Meiser Jr
A lot of questions kept coming up the more I talked to them. They would just ask for more and more requirements. The salesman that I dealt with was good though. I got good feedback from them and they would get back to me on a timely manner. They could be a bit more communicative and let us know what's going on though.
Everything was done electronically, so it was a very simple process from my initial inquiry to funding of the loan. Quarterly payments are withdrawn automatically from my account. My account rep reaches out to me once a quarter to check on how things are going: I really like not being forgotten.
My experience with Balboa is very positive. Their pricing is competitive, they understand risk, they move quickly, their systems are very automated.
Had an expectation upon signing contract that included a specific dollar amount of payment. After signing the contract, I proceeded to get charged exorbitant fees for insurance and property tax that were above and beyond what the agreed amount was. I will never use this company again and I will steer everyone I know in business away from this company.
They are flexible and keep their promises
THIS IS THE WORST COMPANY EVER!!! THEY LIE TO YOU ON THE RATES SND CHARGE YOU FOR INTERIM RENTS!!! THE BBB HAS BEEN NOTIFIED AND I WOULD NOT BELIEVE THE “HIRED” 5-STAR REVIEWS !!! I WOULD WISH TO PLACE “0” STARS, BUT THE SYSTEM WOULD NOT ALLOW IT!!!
First my name is Doyle Wells.. I am Commercial Retail sales Mgr here at AirCo. With a new division to our company I am using the Balboa Lease purchase on every single Quote with commercial equipment. I have seen a cpl times where I mention it when I go to look at job and it automatically singles me out as the preferred contractor. This allows me to price the job correctly and get rid of the lowest cost bidding war. It is my #1 tool to help distinguish me out of the pack. I bid the job, present quote and from that point on the customer deals with Balboa. The feedback I have received from my customers is that the process is seamless and quite easy for them. So far every one that I have sent to them has been ok'd and resulted in another sale for me.