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Balboa Capital Review

Published By Janet Gershen-Siegel at February 21st, 2018

A Look at Balboa Capital

Balboa Capital is one of several lending companies in the online space. We look at their specifics and drill down into the details of their business funding options.

Background

Balboa Capital is located online here: https://www.balboacapital.com/. Balboa Capital is headquartered in Costa Mesa, California with satellite offices in San Ramon, California; Scottsdale, Arizona; and Spokane, Washington.

We could not locate a physical address for Balboa Capital. Balboa Capital’s contact page is here: https://www.balboacapital.com/contact/. We were unable to determine how long Balboa Capital has been in business.

Offerings

Balboa Capital serves as a direct lender. They offer small business loans, equipment leasing, commercial financing, vendor financing, franchise financing, and business cash advances.

Small Business Loans

Balboa Capital will loan up to $250,000. Your company can get 3 – 24 month terms. There is no collateral needed, and the cash is provided in days. There is a time in business requirement of at least one year. Another requirement is $300,000 or more in annual revenue. Furthermore, they will ask for your personal credit score.

swatch - Balboa Capital Review

Equipment Leasing

Balboa Capital will loan up to $250,000. Your company can get 24 – 72 month terms. There is no collateral needed. There is a time in business requirement of at least one year. Another requirement is $300,000 or more in annual revenue.

Commercial Financing

Balboa handles transactions of up to $100 million. They will ask about your time in business. One requirement is $10 million or more in annual revenue.

Vendor Financing

Balboa also provides financing to customers for your equipment (this is for equipment vendors). There is a time in business requirement of at least one year. Another requirement is $300,000 or more in annual revenue.

Franchise Financing

Balboa Capital will loan up to $250,000. Your company can get 24 – 84 month terms. There is no collateral needed. There is a time in business requirement of at least one year. Another requirement is $300,000 or more in annual revenue.

Business Cash Advance

Balboa Capital will advance anywhere from $5,000 to $250,000. Your company can also get 3 – 18 month terms. Also, collateral is not necessary. There is a time in business requirement of at least one year. Another requirement is $10,000 or more in monthly credit card and debit card deposits.

Fees

There is no listing for their fees on the Balboa Capital website. Reviews online (on Yelp) report that there are termination fees and substantial late fees.

Furthermore, there are several negative ratings on Balboa’s Better Business Bureau page. See: https://www.bbb.org/sdoc/business-reviews/small-business-loans/balboa-capital-corporation-in-costa-mesa-ca-13126386

Advantages

One advantage is the size of the business cash advances. Also, an advantage is how you will not need collateral in order to get such an advance.

Disadvantages

A very big disadvantage is that there is no listing of their fees on their website. Only you can decide whether if apparent lack of transparency is an issue for you. The Better Business Bureau complaints are also troubling.

Balboa Capital, on Balance

An apparent lack of transparency should be of concern. However, if your company cannot come up with collateral and needs to get a cash advance, then Balboa Capital funding could be your solution. The variety of offerings is encouraging.

So no matter what, be sure to read the complaints on the BBB website. However, if they do not apply to your unique situation, then they should not carry as much weight as complaints which do.

And finally, as with every other lending program, read the fine print and do the math. Go over the details carefully, and decide if working with Balboa Capital will be good for you and your company. In addition, consider alternative financing options that go beyond lending, including building business credit, in order to best decide how to get the money you need to help your business grow. Share this if you agree with our review of Balboa Capital.

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