Balboa Capital Corporation Review and Market Analysis

Balboa Capital Corporation is a leading provider of equipment financing solutions, offering a range of options for businesses looking to acquire new equipment.

The company has been in operation since 1988, making it a well-established player in the industry.

Balboa Capital Corporation provides financing for equipment purchases, leases, and sales, catering to a variety of industries including manufacturing, construction, and healthcare.

Their equipment financing options can be tailored to meet the specific needs of each business, offering flexible payment terms and competitive pricing.

Balboa Capital Corporation was launched in 1988 by Patrick Byrne and Shawn Giffin, who were just 22 years old at the time. They started with a $4,000 investment and have since grown into one of the largest privately held finance companies in the U.S.

The company is based in California and has offices in several locations, including Costa Mesa, Scottsdale, Arizona, San Ramon, California, and Spokane, Washington. In 2014, Balboa Capital opened a fourth office in Jacksonville, Florida, to expand its East Coast business.

Balboa Capital specializes in small business equipment loans, with most of its lending products capped at $250,000 and loan terms ranging between three months and two years.

Balboa Capital Corporation was founded in 1988 by Patrick Byrne and Shawn Giffin, who were just 22 years old at the time. They had a bold vision for their company, which started with a mere $4,000 investment.

The company's name is inspired by its first office on Orange County's Balboa Island. This humble beginning has since grown into one of the largest privately held finance companies in the U.S.

As of 2014, Balboa Capital's loan volume was a significant $250 million annually. This impressive growth is a testament to the company's innovative approach to financial services.

Balboa Capital specializes in small business equipment loans, with most of its lending products capped at $250,000. Loan terms range from three months to two years, making it an attractive option for businesses looking for flexible financing solutions.

The company's loans are unsecured, meaning borrowers don't need to put up collateral to secure the loan. This makes it easier for businesses to access the funds they need to grow and succeed.

Here are some key statistics about Balboa Capital's growth:

In December 2021, Ameris Bank, a subsidiary of Ameris Bancorp, acquired Balboa Capital Corporation. This acquisition marked a significant milestone in the company's history, and it will be interesting to see how it impacts the company's future growth and development.

Balboa Capital Corporation is a leading provider of equipment financing and leasing solutions for businesses.

They specialize in providing financing for various types of equipment, including medical equipment, technology, and industrial machinery.

Balboa Capital Corporation is a member of the National Equipment Finance Association (NEFA), which indicates their commitment to industry standards and best practices.

Their equipment financing options are designed to help businesses acquire the equipment they need to operate efficiently and effectively.

Balboa Capital Corporation offers a range of financing options, including loans, leases, and lines of credit.

Their experienced team of account managers works closely with clients to understand their unique needs and develop customized financing solutions.

Balboa Capital Corporation has a strong reputation for delivering exceptional customer service and support.

Balboa Capital Corporation offers a range of services and products to support businesses.

They provide small business finance options, including commercial financing, franchise financing, and vendor financing.

Balboa's commercial financing offers capital for equipment purchases, technology upgrades, and company expansions, with transaction amounts up to $100 million and flexible term lengths starting at 24 months.

Their commercial financing features include capital equipment financing, operating leases, and lease lines of credit.

Balboa's commercial financing rates are not disclosed directly, but they can be estimated using a calculator tool.

Here are some examples of estimated payments for commercial financing:

Balboa also offers financing for franchises in industries such as restaurants, fast casual dining, hospitality, and fitness.

Their franchise financing can be used for purposes such as franchise remodeling, new equipment purchases, and property improvements, with financing plans up to $1 million and franchise loans up to $1 million.

Equipment leasing is another option offered by Balboa, with leasing amounts up to $250,000 and flexible term lengths starting at 24 months.

Equipment leases feature no collateral required, and rates can be estimated using a calculator tool.

Here are some examples of estimated payments for equipment leasing:

Balboa's equipment leasing rates are the same as their commercial financing rates, making it a convenient option for businesses looking for flexible financing solutions.

The loan process at Balboa Capital Corporation is designed to be straightforward and efficient. They offer a range of financing options for small businesses and entrepreneurs, including invoice financing and asset-based lending.

Balboa Capital Corporation has a team of experienced loan officers who work closely with clients to understand their unique financial needs. They use this information to create customized loan packages that meet the client's requirements.

The company offers loan amounts ranging from $2,000 to $250,000, making it a great option for small businesses and startups that need a relatively small loan.

In the loan process, understanding the compatibility requirements of a lender is crucial. Balboa Capital has specific requirements to ensure they lend to businesses that can repay the loan.

To qualify for a loan, Balboa Capital requires at least one year of business operations. This helps them assess the business's creditworthiness and ability to repay the loan.

The minimum credit score required is 620, making it accessible to businesses with good credit. However, bad credit doesn't necessarily disqualify a business from getting a loan.

Sole proprietors can also apply for a loan if they meet the minimum revenue requirements. This is a great option for solo entrepreneurs who need funding to grow their business.

Established businesses can take advantage of larger loan amounts and equipment financing. This is perfect for businesses with a proven track record of success and a solid financial foundation.

To qualify for these larger loan amounts, businesses must have a minimum annual revenue of $300,000. This ensures that the business has a steady income stream to repay the loan.

After you've submitted your loan application and met all the requirements, Balboa Capital will make a decision to approve or decline your business loan. You can expect a response within a business day in some cases.

The decision process is typically swift, allowing you to move forward with your business plans as soon as possible.

The lending experience with Balboa Capital is straightforward. You'll need to provide some basic information, including how much you need, your business contact information, how long you've been in business, and your annual revenue.

To start, you'll submit an application that will perform a "soft pull" on your credit to verify you meet their minimum requirements. This won't affect your credit score.

If you prequalify, Balboa will request additional information and supporting documentation before making you an offer that matches your revenue and credit score. If you continue, they'll perform a "hard pull" on your credit to finalize the process.

Here are the key pieces of information you'll need to provide:

If everything checks out, Balboa will authorize the deposit of funds to your bank account. The entire process from application to funding can take as little as 3 days.

After your loan gets funded, you'll need to start making repayments on a monthly or quarterly basis if you have an equipment loan. This schedule can vary depending on the type of loan you have.

You'll need to make daily or weekly payments if you have a short-term loan or business line of credit. This means you'll need to start paying back your loan immediately.

You can check your loan status and payment history through Balboa Capital's online dashboard or by calling customer service. This is a convenient way to stay on top of your loan payments.

It's possible to get additional funding before paying off your loan. Balboa Capital's concurrent funding policy allows borrowers to take out another loan after 90 days from their original loan.

Balboa Capital Corporation has its share of advantages and disadvantages. One of the main benefits is its simple and streamlined application process, which makes it easy for businesses to get started.

Fast funding on loans is another plus, allowing companies to access the capital they need quickly. This can be a huge advantage for businesses that need to cover unexpected expenses or take advantage of new opportunities.

The rates at Balboa Capital are also reasonable compared to other online alternative lenders. However, it's worth noting that the factor rate can increase the cost of the loan.

The website doesn't publish pricing transparency, which can make it difficult for businesses to understand the true cost of the loan.

Here's a summary of the pros and cons:

However, the factor rate can increase the cost of the loan, and the website doesn't publish pricing transparency.

Balboa Capital Client Reviews are overwhelmingly positive, with 82% of 298 reviews on TrustPilot rating them 'excellent' or 'great'.

Their customer feedback is mixed, with some clients praising their ability to provide fast funding and flexible financing options. For instance, one client received funding in just a week to expand their automotive shop.

However, some clients have expressed dissatisfaction with their experience, citing high interest rates and penalties for early payoff. One client had to pay multiple emails and wait three years to be able to payoff their lease at a decent price.

Client reviews are a crucial aspect of any business, and it's essential to pay attention to them.

Balboa Capital's TrustPilot reviews showcase a strong reputation, with a staggering 298 reviews.

The majority of these reviews are excellent, with 82% of clients giving the company a perfect score.

Only 7% of reviewers found their experience to be great, but not quite perfect.

Balboa Capital's client reviews on TrustPilot are overwhelmingly positive, with 82% of reviewers giving them an "excellent" rating.

Some clients have reported receiving funding quickly, which was crucial for their business needs. For example, one client received funding to expand their automotive shop and was up and running with their vendor paid on time within a week.

However, not all clients have been equally satisfied. A few reviewers have expressed frustration with Balboa Capital's willingness to work with them on issues, with one client reporting that it took multiple emails and three years to resolve their concerns.

Balboa Capital's fast response time is a major advantage for some businesses, but others have been disappointed by the lack of flexibility in their loan terms. One client mentioned that they couldn't pay off their loan early without incurring penalties.

Balboa Capital's flexibility and speed have made it a leader in the equipment financing and small business loan market. They use a simple online application and a fast approval process, often providing same-day approval for qualified applicants.

With over 30 years of experience, Balboa Capital has funded over $7 billion to more than 300,000 businesses nationwide. Their ability to fund loans within 24-48 hours has made them a go-to option for small business owners who need fast capital.

Balboa Capital quickly became a leader in the equipment financing and small business loan market due to its flexibility and speed.

The company's simple online application and fast approval process, often providing same-day approval for qualified applicants, played a significant role in its rapid growth.

With over 30 years of experience, Balboa Capital has funded over $7 billion to more than 300,000 businesses nationwide.

Their ability to fund loans within 24-48 hours has made them a go-to option for small business owners who need fast capital.

Ameris Bank has acquired Balboa Capital Corporation, a premier online provider of business lending solutions to small and mid-sized businesses nationwide.

The acquisition accelerates Ameris Bank's small business and C&I lending initiatives and increases its presence in the fast-growing point-of-sale financing market.

Balboa Capital has helped tens of thousands of businesses access growth capital with instant credit decisions and same day funding.

The company was founded in 1988 and will remain headquartered in Costa Mesa, California, where it uses proprietary technology to deliver innovative financing solutions to a diverse group of business customers nationwide.

Balboa Capital's originations are expected to exceed $415 million during 2021.

The acquisition brings a new digital lending option to more of Ameris Bank's business customers, and the company expects significant earnings accretion from the core operating strategy of Balboa Capital.

Ameris Bank's financial strength and culture complement Balboa Capital's dynamic solution and high-performing team, enhancing the ability to help businesses gain financial peace of mind as they grow.

The addition of Balboa Capital diversifies Ameris Bank's already robust portfolio of nationwide lending platforms, which includes its premium finance, mortgage banking, and warehouse lending businesses.

The all-cash transaction results in manageable tangible book value dilution with a four-year earn-back period and enhances Ameris's efficiency ratio profile.

To apply for a small business loan with Balboa Capital, you'll need a good credit score and to own at least 1/5th of the enterprise.

You'll also need to have been in business for at least 12 months. Annual revenue requirements vary depending on the type of loan you're applying for, with $300,000 needed for Lines of Credit and Short Term loans, and $100,000 for equipment financing.

You'll need to provide documentation of your banking history, which can include three months of business bank statements, a copy of your driver's license, and a certificate of good standing.

Additionally, you may be asked to provide a voided business check, a two-year balance sheet, a profit and loss statement, and business tax returns.

It's worth noting that Balboa Capital doesn't accept loan applications from applicants with unpaid tax liens over $75,000.

Here's a quick rundown of the requirements:

Larger financing requests may require additional documentation, such as financial statements and tax returns.