Balboa Capital

Name: Balboa Capital
Rating: 3.6

3.6

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61 User Reviews

6.3

Overall Score

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3.6

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61 User Reviews

6.3

Overall Score

Compare

The Good

The Bad

Bottom Line

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Company Details

Maximum Loan Amount

$2 Million

Quickest Time to Funding

5 Days

Number of Reviews 61

info Source of Information

Author: Kaitlyn Short

LAST UPDATED: September 11th, 2023

Founded in 1988, Balboa Capital is one of the longest-standing independent online finance lenders. The company is named after its first office on Balboa Island in Newport Beach, CA.

The company initially made its reputation by providing equipment leasing and equipment financing services, but today, it offers a number of additional financing options to small business owners, franchise owners, and equipment vendors. In November 2020, Balboa Capital completed a $201 million securitization, which increased its lending capacity, so approval rates should be higher than ever.

Product highlights include the following:

Small business loans which provide 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
Business cash advance which is a flexible option to manage working capital needs

Keep reading our Balboa Capital review or jump straight to reviews from past and present customers.

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The Good

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.

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The Bad

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.

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The Bottom Line

Balboa Capital offers a number of attractive features for your working capital needs, including extensive industry experience, quick approval and funding times, and unsecured loans. The company also offers a variety of financing options including small business loans, equipment leasing, commercial financing, vendor financing, franchise financing, and business cash advances.

Notably, Balboa Capital is a direct lender which allows customers to obtain quick funding, even same-day funding with equipment financing. Plus, the company claims to not have any hidden fees or upfront costs. Keep in mind that your interest rate and loan terms are dependent upon approval decisions.

Unfortunately, the company’s credit requirements are ambiguous, so if you're a business owner with subpar credit, you’ll want to conduct your own research on credit-inclusive alternative lender options before choosing this company.

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User Reviews

Star Rating

3.6

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61 Reviews

Review Breakdown

5 grade

48%

4 grade

16%

3 grade

2 grade

1 grade

25%

Sentiment Criteria

Value

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Quality

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Service

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Verified Customer

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DAvidWells

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.

6 years ago

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Verified Customer

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Lonnie Waldrop Westerville, OH

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.

6 years ago

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Verified Customer

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Bertie Salyer Salyersville, KY

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.

6 years ago

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Verified Customer

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Giuseppe Filippelli Albion, NY

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.

6 years ago

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Verified Customer

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Tim Sublett Portsmouth, OH

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.

6 years ago

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Verified Customer

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Anonymous Warren, OH

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.

6 years ago

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Verified Customer

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Davida Nelums Caruthersville, MO

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.

6 years ago

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Verified Customer

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John Bilanko Santa Cruz, CA

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.

6 years ago

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Verified Customer

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Adelbe Los Banos, CA

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.

6 years ago

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Verified Customer

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Leon Gordon Edgefield, SC

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.

6 years ago

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Verified Customer

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David Laws Pennington Gap, VA

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.

6 years ago

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Verified Customer

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DaveSalzberg

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.

6 years ago

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Verified Customer

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Gregg Freidenberger Rocky Ford, CO

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.

6 years ago

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Verified Customer

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Troy King Junction City, OH

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.

6 years ago

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Verified Customer

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Anonymous

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.

6 years ago

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Verified Customer

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Brad Carmickle Versailles, KY

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.

6 years ago

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Verified Customer

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Victor San Antonio, TX

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.

6 years ago

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Verified Customer

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Marvin Alvarez Houston, TX

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.

6 years ago

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Verified Customer

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Ravinder Saini Utica, MI

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.

6 years ago

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Verified Customer

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William Meiser Jr Enumclaw, WA

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.

6 years ago

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Verified Customer

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Bill Horton Muncie, IN

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.

6 years ago

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Verified Customer

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Damian Garza Laredo, TX

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.

6 years ago

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Verified Customer

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Anonymous Grand Haven, MI

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.

6 years ago

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Verified Customer

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Troy Takach Sandy, UT

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.

6 years ago

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Verified Customer

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Steve Columbus, IN

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.

6 years ago

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Verified Customer

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Steven Crossen Laveen, AZ

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.

6 years ago

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Verified Customer

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Manuel Sousa Stockton, CA

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.

6 years ago

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Verified Customer

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Kenneth Boomer Saginaw, MI

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.

6 years ago

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Verified Customer

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Blake Howard

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

6 years ago

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Verified Customer

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Debbie Barr Pima, AZ

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.

6 years ago

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Verified Customer

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JamesGriffin

My experience with Balboa is very positive. Their pricing is competitive, they understand risk, they move quickly, their systems are very automated.

6 years ago

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Verified Customer

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KevinHackbart

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.

6 years ago

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Verified Customer

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Chong SPark

I worked with Brendan, and he patiently answered every question I asked. At the end, I had a reasonable interest rate for my loan, and I am happy with it.

6 years ago

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Verified Customer

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ChristianJackson

HANDLED MY NEEDS VERY FAST AND THEY ARE A REPUTABLE COMPANY. I HAVE DONE BUSINESS WITH THEM MORE THAN ONCE AND WOULD RECOMMEND THEM TO ANYONE.

6 years ago

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Verified Customer

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Anthony Silva Plymouth, IN

Very satisfied service. Anthony was very courteous and explained details thoroughly. Information was at a quick response

6 years ago

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Verified Customer

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Richard Borchers Fallston, MD

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.

6 years ago

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Verified Customer

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Abraham Montalvo Norfolk, NE

Somebody offered it to me. Getting the loan was pretty quick and customer support always answers me when I call.

6 years ago

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Verified Customer

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JasonNakagawa

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!!!

6 years ago

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Verified Customer

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F.V. Los Angeles, CA

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.

6 years ago

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Verified Customer

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Robert Fager Limon, CO

I'm glad I went with them. Their customer service is very friendly, though they don't return all your phone calls and emails.

6 years ago

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Verified Customer

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GaryHarter

their response time was very slow! took almost a year for my loan to get funded i was mislead on condition of my loan. David W. was rude and and very pushy wouldn't recommend to my worst enemy

6 years ago

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cathy carron LA

Bottom Feeders. Used them to finance a cosmetic machine. All was well until pandemic hit and I couldn't make full payment as my office in NYC was closed for 5 months. Offered to pay them 50% (which I did) and they sued me. Refused to negotiate in spite of the fact that I had never missed a payment and the circumstances were extenuating, to say the least. Did they care that the physicians in NYC were "all hands on deck" with closed offices and no income and volunteering at the hospitals NOPE. I continued to pay them 50% until January of 2023. And would have done it until it was paid off. But all these people care about is money and I now have a HUGE judgement against me. I hope they have to go through what we medical professionals went through in NYC in 2020. They might be a bit more understanding. Cathy Carron MD

1 year ago Edited September 12, 2023

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Julie L

BEWARE!!! 1. Balboa charged me 400% higher interest than originally promised 2. Balboa demands a deposit which they promise will be returned at the end. TOTAL LIE YOU WILL NEVER SEE THAT MONEY APPLIED! 3. Balboa charged $500 a month in addition to my regular payment citing additional insurance. 4. Balboa charged $500 a month in addition to my regular payment citing it was for Sales Tax - WHICH THEY NEVER PAID. 5. None of their management will return phone calls to any concerns. 6. Look at Balboa's legal history. Hundreds of lawsuits including a prominent Retail Chain. YOU WOULD BE CRAZY TO WORK WITH THIS COMPANY. WE TRIED TO GET OUT IN THE BEGINNING AND COULD NOT. WE WOULD LIKE TO SAVE YOU!

2 years ago

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Josh Woody Warrensburg, MO

DO NOT GET TIED IN....... Being a business owner we were lured in with a company called Unified Global Solutions(Do not get tied in with them either). We were told what we were signing was to prevent taxes to make our phone and Internet plan cheaper. It was a scam.What we signed was a 5 year contract for over 8000.00 and had a single piece of small equipment installed. Immediately I got in contact with Balboa and explained we were misled and everything we were told was a lie. We asked repeatedly for help getting out from the beginning. and told them to review the website of the people they were backing because their employees and customers said the same as us. UGS is a scam. It fell on deaf ears. Now we have had to switch back to our previous company because our fax machine didn't work from day 1. Our Internet glitched all day long and our phones didn't ring in half the time. Customers were always calling complaining because they couldn't get through. We're done using them both. DO NOT DO NOT USE BALBOA...

2 years ago

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Subway Franchisee Moorpark, CA

STAY AWAY!! I found Balboa Capital after soliciting calls over the years I had a remodeling job coming up, so I contacted them. The sales staff was great. They stayed in touch throughout the whole process. Then the payments begin. All was good till my additionally insured certificate lapsed, GRANTED I HAD INSURANCE AND THEY WERE LISTED AS ADDITIONALLY INSURED. I am a SUBWAY Franchisee, you don't not have insurance. Balboa sent an email letting me know this but after searching I found it went to JUNK Folder. They NEVER CALLED, NEVER sent a letter Just charged me a ridiculously high amount. EVEN after I proved they were insured the whole time they would not credit back the charges. I feel their service AFTER they get you to sign is VERY POOR and would not recommend doing business with them. I requested a supervisor to give me a call and to date, 3-4 weeks ago I have not received a call just standard emails that take 7-14 days to get replies to. I am a Subway Franchisee and would not do business with this company ever again.

2 years ago

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Robert Holdeman Avera, GA

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.

5 years ago

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Karen Giroir Alexandria, LA

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????

5 years ago

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Verified Customer

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Cristlina Ardon Fort Lauderdale, FL

Customer service is very friendly and very nice. They are also fast.

6 years ago

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Verified Customer

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Jose Maldonado Berclair, TX

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.

6 years ago

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Verified Customer

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SergioEspinoza

Best on customer services they answered all my questions with no problems

6 years ago