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Balboa Capital Reviews


ConsumersAdvocate.org Rating: 3.9 / 5 (Very good)
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Balboa Capital is a technology-driven independent financing company from California that was established in 1988.

They provide small business loans, equipment, and commercial financing, franchise financing, and equipment vendor financing across all 50 states.

Balboa has a 4-star TrustPilot rating, and an A+ letter grade with the BBB.

Their application process is simple, and funding can be available in as little as a few days.
 
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How is Balboa Capital rated?

Breakdown

4.0/5
Loan Options
4.3/5
Application Requirements
3.5/5
Average Rates & Fees

Overall Rating: 3.9 / 5 (Very good)

Balboa Capital offers small business loans, merchant cash advances, and equipment financing.

The company is not up front when it comes to their loan APRs and associated fees.

Additionally, there are a disproportionate number of negative reviews, mainly centered around miscommunication regarding equipment loans, excessive surcharges, and poor communication with staff.

Loan Options

Available Loan Types

SBA Loans
Revenue-based Financing
Equipment Funding
Working Capital Loans
Term Loans
Lines of Credit
Invoice Financing
Merchant Cash Advances
Equipment Loans

Term Loans

Min Loan Amount
$1,000
Max Loan Amount
$250,000
Min Term Length
3 months
Max Term Length
12 months
Repayment Terms
Fixed daily payments

Merchant Cash Advance

Repayment Terms
The amount of funding is determined by an individual company's credit card revenue. A percentage of each credit card sale is taken until the loan is paid back.

Equipment Loans

Min Loan Amount
$1,000
Max Loan Amount
$250,000
Min Term Length
12 months
Max Term Length
60 months
Repayment Terms
Fixed monthly payments.

Loan Options - 4 / 5

Balboa Capital is a small business lender based in California that offers a wide variety of loan products including term loans, merchant cash advances, and equipment loans.

The company provides up to $250,000 with minimal information and no collateral, but with full financials can fund up to $2 million.

However, small business term loan repayment length is a little on the restrictive side, at 3 months to a year.

Balboa Capital Rates & Fees

Average Rates & Fees - 3.5 / 5

Balboa Capital does not provide any information as to the APR range of their loan products, or loan-related fees for that matter.

The company does claim that they don't have hidden fees of any kind.

Application & Qualifications

Online Application
Funding Time
Cash provided in just days.
Min. Years In Business
1 year(s)
Min. Annual Revenue
$300,000

Application Requirements - 4.3 / 5

Balboa provides a free instant quote on its website.

The company then makes a rapid decision and borrowers can be funded in a matter of days.

Balboa has no minimum credit score requirement and your business only needs to have been in operation for 1 year to apply.

However, the $300,000 yearly income requirement is a little on the high side.

Balboa Capital Reputation

Customer Feedback

Trustpilot Score
7.7 out of 5
BBB Rating
A+
BBB Positive Reviews
1
BBB Neutral Reviews
1
BBB Negative Reviews
17
Date Collected
2017-08-23

Consumer Education - 3.8 / 5

Balboa's Trustpilot score is lower than average among the companies we evaluated.

They have an A+ BBB rating, but the majority of their reviews are negative.

Most complaints center around the terms of their equipment loans, with customers unaware that, in effect, they'll have been simply renting the equipment and must, therefore, pay for it at the termination of the loan.

Contact & Additional Information

Homepage URL
https://www.balboacapital.com/
Company Phone
(888) 225-2621
Headquarters Address
575 Anton Boulevard, 12th Floor, Costa Mesa, CA, 92626
Mailing Address
575 Anton Boulevard, 12th Floor, Costa Mesa, CA, 92626

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Customer Comments & Reviews

Loading Reviews ...
K
Kimberly N
2/24/2017
This company has shady business practices. I am now being charged a property tax which equates to 28% of the equipment. They never send you info on what this Tax is, or to what state this Tax goes (obviously not my state as it is only 1.5%). They don't tell you how much extra a month this is, you just get an invoice that says they are taking out of your account, without any full description on this "FEE". I am also very nervous as I have another lease (which never had this "TAX") taken out, and it is coming to term, and there are so many bad reviews on what happens when the lease terms. Scary company, doing business with this company is way more expensive than other more honest and... Read More

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Applying won’t affect credit score

  • Loan Amounts: $5,000 to $250,000
  • Average Yearly Revenue requirements: $100,000
  • Minimum Credit Score: 625 FICO
  • Minimum Time in Business to apply: 1 year
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