Balboa Capital
check_circleverifiedFounded 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.
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The Good
- Industry Experience
- Fast Approval
- Unsecured Loans
- Business Resources
- Balboa Capital Reviews
Industry Experience
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
Fast Approval
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."
Unsecured Loans
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.
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.
The Bad
- Limited Website Information
- No Startup Funding
Limited Website Information
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.
No Startup Funding
Although Balboa Capital is a direct lender does not seem to provide financial solutions or funding to startup companies.
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.
Balboa Capital is a direct lender which allows customers to obtain quick funding, even same-day funding with equipment financing. Unfortunately, the company lacks some important website information including qualification requirements, customer service help, and personal guarantee. Interested customers may want to conduct their own in-depth research on alternative lender options before making a final decision.
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User Reviews
Star Rating
53 Reviews
Review Breakdown
Sentiment Criteria
Verified Customer
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.
Verified Customer
Excellent customer service very fast reliable
Verified Customer
Very satisfied service. Anthony was very courteous and explained details thoroughly. Information was at a quick response