Balboa Capital Review: Pricing, Terms, Pros & Cons - NerdWallet (2023)

Balboa Capital is an online lender that offerssmall business loansand equipment financing. As with alternative lenders, you can apply for financing online and receive the funds within days. In return, you can expect high interest rates and a frequent repayment schedule.

Overview: Pros and cons of Balboa Capital


  • Easy access to financing with low eligibility requirements.

  • Rapid financing process.

  • The device financing product offers an enterprise-only warranty option.


  • Factor rates may increase financing costs.

  • Lack of pricing transparency, including Balboa Capital interest rates, on their website.

  • With equipment financing, you only own the equipment after you have paid off your loan.

  • Hard credit deductions can affect your personal credit score.

Business loans from Balboa Capital

With three financing products – short-term loan,equipment financingAndline of credit– Balboa Capital gives you access to the financing you need based on your business needs. Below we examine each product and the Balboa Capital interest rates you can expect.

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Short Term Loan from Balboa Capital

Short Term Loansare ideal when you need financing quickly - especially if you have slow sales periods or need to make a large purchase in the near future.

Balboa Capital Term Loan details

Maximum loan amount:$5.000 - $250.000.

Duration:3 - 18 Fun.

Zinsrate:Factor 1.1 bis 1.2.

Balboa Capital Term Loan Requirements

Annual sales:300.000 $.

Personal creditworthiness:No minimum.

Time in store:1 year.

Balboa Capital equipment financing

Balboa Capital Corporation offers attractive terms on their equipment financing product if you are looking to finance equipment to grow your business. In addition, Balboa Capital's equipment financing offers a corporate-only warranty option. This means that only your company - and not you personally - is liable for the financing you undertake through Balboa Capital's equipment financing.

Equipment financing details from Balboa Capital

Maximum loan amount:Up to $250,000.

Duration:25 years.


Balboa Capital equipment finance qualifications

Annual sales:100.000 $.

Personal creditworthiness:No minimum.

Time in store:1 year.

Business Credit Line from Balboa Capital

A business loan is ideal if you are looking for short-term financing for various expenses, including bills, inventory, marketing, and even filling out payroll.

Balboa Capital Business Credit Line details

Maximum loan amount:$5.000 - $250.000.

Duration:6 - 18 Fun.

Zinsrate:Factor 1.1 bis 1.2.

Balboa Capital Business Line of Credit Qualifications

Annual sales:300.000 $.

Personal creditworthiness:No minimum.

Time in store:1 year.

Borrower Eligibility at Balboa Capital

Eligibility depends on which Balboa Capital financing product you choose. In general, you must meet the following eligibility criteria:

Restricted Industries

You do not qualify for any of the Balboa Capital products mentioned in this review if your business operates in the following industries:

  • oil or gas production.

  • Long-lasting medical companies.

  • entertainment for adults.

  • gambling.

  • Lotteries.

  • Casinos.

  • Aviation.

  • boats.

financial history

  • Balboa Capital cannot fund a company that has a tax lien in excess of $75,000.

  • Balboa Capital requires that 20% interest be represented in a funding proposal.

  • Balboa Capital does not finance companies with more than five NSF transactions or five overdrafts per month.

  • Balboa Capital cannot take a second position to any other debt.

  • Balboa Capital requires companies to have at least three open trade lines to qualify for equipment financing and at least two open trade lines to be eligible for a working capital loan.

  • Balboa Capital takes your personal and business credit scores into account during underwriting, but no minimum score is required.

  • Balboa Capital requires credit and debit card deposits from credit and debit cards to be a minimum of $10,000 per month for merchant cash advance applicants.

  • Fifty percent of a Balboa Capital working capital loan can be used to refinance existing debt.

Short-term loan

Balboa Capital does not offer working capital loans to companies:

  • It went bankrupt last year.

  • With fewer than five monthly bank account deposits.

  • With average bank balances under $1,000.

equipment financing

Like short-term loans, equipment financing is not available to small business owners who have gone bankrupt in the past seven years.

What you need to apply

  • clearance certificate.

  • Invalid business check.

  • Copy of your driver's license.

  • Two-year balance sheet (for deals over $250,000).

  • Biennial income statement (for transactions over $250,000).

  • Two years of corporate tax returns (for deals over $250,000).

  • Business bank statements of three months (for working capital loans).

How to get a loan with Balboa Capital

If one of Balboa Capital's products feels right for your business, the following sections describe the application, refinancing, and repayment process.

Application and subscription process

First, you must complete an online application on Balboa Capital's website. At this stage, Balboa Capital will perform a gentle pull on your personal balance to verify that you meet the minimum requirements. If you are applying for more than $250,000 you will need to call Balboa Capital as you may have additional requirements to meet.

After you have submitted your application, the next step is to ensure that you submit all required documentation to Balboa Capital as soon as possible. Once they have received your complete application package with all the documents, they can provide you with an offer within an hour.

Post Funding Process

After you accept this offer and sign the loan agreement, Balboa Capital will take a heavy toll on your personal balance before transferring the money to your bank account. In addition, Balboa Capital charges an incorporation fee of up to 2% and files a UCC lien on your company. You may be able to get funding the same day you apply for the funds.

(If Balboa Capital rejects your application, you may reapply for funding, but you must wait 30 days after your initial rejection.)

repayment process

Once you have deposited with Balboa Capital, the timing of your first payment will depend on the frequency of your repayment schedule. With Balboa Capital equipment financing, borrowers repay their debt with either monthly or quarterly payments. Meanwhile, borrowers who take out a working capital loan from Balboa Capital pay off their debt with daily or weekly payments. So you only need to make your first payment right away if you have a daily repayment schedule for a working capital loan.

As you repay your Balboa Capital loan, you can review your progress through an online dashboard and contact your account manager or customer service.

Balboa Capital has a concurrent funding policy that allows you to accept an additional amount of credit within 90 days. And if you want to renew your Balboa Capital loan altogether, you can do so once you've paid off 50% of your loan.

Balboa Capital Customer Service

Balboa Capital customer support can be reached by phone or email.

You can call Balboa Capital's corporate office at (888) 225-2621 or (949) 756-0800. You can also reach the Pacific Northwest office at (888) 225-2621 or (949) 756-0800.

You can also contact support via email using the online contact form.

Reviews on Balboa Capital

Let's find out what online reviewers are saying about Balboa Capital.

positive reviews

Many positive reviews from Balboa Capital praised the helpful customer service representatives. Customers received answers to their questions professionally and promptly. Even some franchise companies recommend Balboa Capital to their franchisees.

In addition, a fast application process was a recurring theme in several Balboa Capital reviews. Applying for a loan and the subsequent funding process was easy with few hassles. Completing many of the steps online has also increased convenience and saved valuable time for many business owners.

Negative reviews

The Balboa Capital Better Business Bureau (BBB) ​​profile contains some complaints about billing issues and confusion with some of Balboa Capital's financing products. Some reviews also criticized Balboa Capital for not being transparent about the buyout sum clients end up being faced with. Poor customer service only added to the miscommunication and frustration.

We recommend having a legal professional read the fine print of your loan agreement or lease with Balboa Capital before signing up. You can spot any issues and make sure you know exactly what you're signing up for.

This article originally appeared on Fundera, a subsidiary of NerdWallet.

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