There is not enough information for us to recommend working with Balboa Capital. Browse the lenders below to find the best loan for you:

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.

Rank Chart
Interest Rates
Revenue Requirement
Review

#1

1.5-12%
$50k/year

#2

15-35%
$54k/year

#3

5.99-36%
$100k/year

#60
balboa_capital

Undisclosed
$150k/year

The Good

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. Benefits of the service include:

Fast Approval

Balboa Capital offers is a 5-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 5 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.

No Hidden Fees

Although they do not offer any specifics, Balboa Capital claims that they do not have any hidden fees. We cannot understand exactly what this means because they do not have any fees listed on their website. So either they will let the borrower know of the fees once they are approved for a loan, or they really do not have any fees at all. If this is the case, this would be a major advantage for Balboa Capital, but without the full information, we do not know exactly what this means.

Features

In summary, these are the benefits of Balboa Capital:

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

The Bad

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
  • Credit score requirements
  • Time in business requirements
  • Minimum monthly/annual revenue requirements
  • Details about prepayment penalties or other fees
  • A working loan calculator

Interest Rates

When we say “clear information about the interest rates,” here’s what we mean: on the first page of the website, there is what looks like a loan calculator. However, this loan calculator also says that it is only for equipment leasing. It will give some estimate of how much interest rates are for equipment leasing, but this is the only place on the entire site that interest rates are suggested. Even here, they are not written clearly.

Broken Loan Calculations

The loan calculator that is under the tab Small Business Loans, on the other hand, doesn’t even 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.

Loan Amounts

When Balboa Capital does get specific, like when they tell us that $150,000 is the maximum amount of money that can be borrowed in a small business loan, it’s also less than preferable. This amount is on the low-end of funds offered by online lenders, and prospective borrowers should pay attention to these numbers when they are looking at potential lenders.

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, there is simply too little information on their website for us to make a definitive decision about Balboa Capital. The information that we are left not knowing seems much greater than the information that we do know, and therefore, our conclusion is incomplete. With what we do know, we believe that there are better independent lenders that you can find on the Internet.

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.

*Star Rating is determined by evaluating APR range, minimum credit score requirement, revenue requirement, length in business requirement, and other related approval data.

More Information

While the website looks full and does have plenty of pages, there is a substantial amount of information that is missing from it. While we have tried to gather as much information as possible for this review, there are some areas of information that cannot be evaluated entirely for lack of information.

Types of Loans Offered
Rates Offered

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Term Lengths

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