Balboa Capital
Balboa Capital is a technology-driven independent financing company that provides fast, hassle-free financing solutions to small and medium sized businesses throughout the United States. Our company developed an intuitive online platform that saves time and simplifies the entire process. Small business loan and equipment financing applications can be completed and submitted online in a matter of minutes, and our proprietary credit scoring technology provides rapid decisions. No lengthy paperwork or collateral are needed, and all credit scores are considered. Since opening our doors, we have provided close to $5 billion in funding to businesses nationwide, and we have earned a reputation for outstanding customer service. Whether it’s a small business loan or equipment financing, you can count on us to structure and deliver the best solution for your company’s needs, and to provide you with the responsiveness and dedication that have earned us an A+ rating with the Better Business Bureau (BBB).
100%
Worked with Matthew he was great. Always answered your questions and calls.
By: Roger
I have two lease agreements with Balboa Capital, both done by Matthew Bramlett. He is an outstanding person with exceptional product and subject knowledge along with fantastic customer service. I would not look for another financing source as long as Mr. Bramlett is servicing my account.
By: Devang
From start to finish, Steve Babor is not only courteous and professional, but makes the entire process fast and easy. I would absolutely recommend Balboa Capital to anyone looking to either expand or needing emergency funds for their business.
By: Josh
I use to work with a number of lenders until I came across Balboa Capital. They are the only one I allow my reps to use now because of the relationship we have with Steve Babor. He drops everything to see that our needs are taken care of.
By: Lance
By far the easiest purchase I have ever done. I would highly recommend them to anyone in need of there services
By: Daniel
A streamlined online application process, quick approvals and delivery of funds, and a host of loan products have made Costa Mesa, Calif.-based Balboa Capital Corp. a popular choice for small and mid-market businesses. It has funded more than $5 billion since it was founded in 1988. A direct lender, Balboa Capital’s 200-plus staff includes financing and accounting experts, allowing it to manage the entire process —application through approval — in house. It also is an alternative lender, offering funding opportunities for businesses with weak credit, cash flow problems or lack of collateral, which are hurdles in securing traditional bank funding. It has been a Better Business Bureau accredited lender since 1999, and it has an A- grade.
Balboa Capital offers six types of funding, giving businesses – and in one instance their customers – different avenues for meeting their funding needs. The application process for most is simple: Fill out the online form and receive a decision in minutes. While Balboa Capital provides funds for businesses in many industries nationwide, nearly all need to have been in business at least a year and $300,000 in annual revenue. Those might be tough hills to climb for newer businesses. Balboa has invested in the latest bank-level encryption technology to protect sensitive customer information. And because it’s a direct lender, all that data is kept in house.
Balboa Capital offers a variety of loan products for businesses. They include:
Balboa Capital offers business cash advances from $5,000 to $250,000. These aren’t loans but the sale of future receivables. They work exactly like merchant cash advances. Unlike traditional bank loans, advances have no set payments or term. Lenders take a predetermined percentage from daily or weekly sales, usually those made with credit and debit cards, as repayment. So, amounts change with sales. With strong sales, for example, it’s possible to repay the advance faster than if sales are slow. Approval requirements are often lower than for loans, so advances cost more because lenders use higher rates to cover their risk. Advances don’t require a guarantee, but borrowers might have to sign a performance guarantee, promising they’ll operate the business in a way that ensures repayment. But even then, there’s no legal requirement to repay the advance.
| Loan product | Loan amount | Loan term | APR range/ factor rate | Fees | Time to funding |
| Small business loan | Up to $250,000 | 3 – 24 months | Varies from 6.25% – 35% | Up to 2% of principal | 1-3 days |
| Equipment leasing | Up to $250,000 | 24 – 72 months | Varies from 6.25% – 35% | Up to 2% of principal | 1-3 days |
| Commercial financing | Up to $100 million | Flexible term lengths | Varies from 6.25% – 35% | Up to 2% of principal | 1-3 days |
| Franchise financing | Financing plans up to $1 million, working capital loans up to $1 million and credit lines up to $500,000 | 24 – 84 months | Varies from 6.25% – 35% | Up to 2% of principal | 1-3 days |
| Business cash advance | $5,000 – $250,000 | 3 – 18 months | Varies from 6.25% – 35% | Up to 2% of principal | 1-3 days |
Rates current as of 6/27/2018
Balboa Capital doesn’t offer 60 or fewer day financing for equipment but can provide more than $250,000 for it in some instances. It also offers vendor financing, which can help a business’s customers purchase needed equipment. Application is through Balboa Capital’s website, and no collateral is required. Applicants, who need to be in business for at least a year and have annual sales of at least $300,000, receive same-day decisions, and businesses have access to digital marketing and sales tools.
| Loan product | Annual revenue | Min. business credit score or personal credit score | Time in business |
| Small business loan | $300,000 minimum | 560 | At least one year |
| Equipment financing | $300,000 minimum | 560 | At least one year |
| Commercial financing | $10 million minimum | 560 | At least one year |
| Franchise financing | $300,000 minimum | 560 | At least one year |
| Business cash advance | At least $10,000 in monthly credit and debit card deposits | 560 | At least one year |
Business applying for leases must provide quotes or invoices for the equipment. Those applying for working capital must share their past bank statements.
Balboa Capital doesn’t specifically list any types of businesses or industries that are ineligible for its funding.
Applications start at Balboa Capital’s website. Borrowers answer a few questions about their businesses, and decisions are almost instant. Balboa looks at most credit scores, so businesses may be approved even if traditional banks or credit unions have said no. Once approved, applicants receive a call from their assigned representative, who will handle collating any need documents and escorting the applicant through the final steps of the funding process. And if there is a question or issue during the course of the loan, the representative is only a phone call or email away.
| Pros | Cons |
| Easy application | Tougher eligibility requirements |
| Variety of loan products | No local representative to answer questions |
| Higher approval rate, considers all credit scores | High interest rates on some loan products |
U.S.-based small, mid-market and Fortune 5000 businesses are Balboa Capital’s bread and butter. Its commercial financing, for example, have helped companies in the construction, food processing, manufacturing, mining, oil and gas, pharmaceutical, private equity, technology, and trucking industries. It serves customers from its main office and satellite offices in San Ramon, Calif., Scottsdale, Ariz., and Spokane, Wash.
Balboa Capital handles payments through Automated Clearing House withdrawals from the borrower’s business banking account. Those can be made daily, weekly, monthly or quarterly.
Balboa Capital has a loan product for just about any small business funding need. Combine that with a simple to use and secure online application process, and it can be a good choice for funding, especially for businesses with shaky credit scores. Some of its eligibilities are more stringent than other direct lenders, so it may not be the best choice for new businesses.
