Balboa Capital Reviews | Business Loan Terms & Pricing in 2022

Balboa Capital is a tech-driven short-term business loans company that lends directly to its clients. They offer quick application processes, multiple funding options, as well as excellent customer service. Without providing any collateral, small business owners can apply online with a smart automated technology system reviewing your application and giving you an instant answer.

Established in 1988, Balboa Capital is based in California and has proved itself to be a competitor in the industry. Online Balboa Capital reviews testify of its excellent customer service and prompt funding times. With over $5 billion funded and an A+ BBB rating, this company is definitely worth looking into for entrepreneurs with small to medium-sized businesses.

Balboa Capital reviews in the USA, can be found on numerous accredited websites including CNN Money, Yahoo Finance, Business.com, and Bloomberg Magazine.

In this review, we will give a more in-depth by considering the following factors:

• Features of the loan provider
• Loan application procedure and terms
• Plans, pricing, and repayment
• Pros and cons
• FAQ

Balboa Capital Plans

Balboa Capital lends directly to its clients. It provides:

• equipment financing
• franchise financing
• lines of credit
• merchant cash advances
• short-term business loans to owners

Let’s take a closer look at their different plans.

Short-Term Business Loans

This product is perfect for small business owners who want a quick cash injection. Funding amounts range between $5,000-$250,000 and have a loan term ranging between 3-18 months.

Requirements that have to be met to be eligible for this loan:

• $300,000 in annual revenue
• At least 1 year in business
• No bankruptcies in the last year
• All credit scores are considered
• A bank balance of over $1,000
• More than five monthly bank account deposits

Once the application has been approved, you’ll receive funds within 24 hours. Numerous online Balboa Capital loan reviews from clients can attest to the company’s quick funding process.

Equipment Financing

Equipment financing is available for business owners who want to buy machinery, office equipment, or software. This is great to increase liquidity and grow your business rapidly. Funding amounts range between $3,000 – $250,000 and have loan terms of 2-5 years.

Requirements that have to be met to be eligible for this loan:

• $300,000 in annual revenue
• At least 1 year in business
• No bankruptcies in the last seven years
• All credit scores are considered

This loan might prove to be tax-deductible.

Vendor Financing

This plan is great for same-day funding. It assists in private label marketing and an online sales management system. It’s a single point-of-contract that will help you in closing more deals faster.

Requirements that have to be met to be eligible for this plan:

• $1 million in annual revenue
• At least 3 years in business
• A decent business credit score

Commercial Financing

Perfect for entrepreneurs with middle-market businesses. The custom-tailored commercial financing solution can assist in financing expansions, tech programs, and capital equipment.

Requirements that have to be met to be eligible for this loan:

• $100,000 in annual revenue
• At least 1 year in business
• A decent FICO score

Franchise Financing

Clients can get up to $250,000 in franchise financing on the same day as they applied, with payment terms between 24-84 months. This plan is an all-inclusive franchise financing solution that can have maximum loans of up to $1 million. With this plan, you are eligible for a credit loan of up to $500,000 and soft cost financing.

Business Line of Credit

Between $5,000-$250,000 revolving credit lines are available to approved clients. Repayment terms are between 6-18 months and can be done daily, weekly, or monthly. Borrowers will only have to repay the amount withdrawn as well as the interest on that amount.

Requirements that have to be met to be eligible for this loan:

• $300,000 in annual revenue
• At least 1 year in business

All credit scores are considered.

Pricing & Repayment

Even though Balboa Capital doesn’t require any collateral, it might request a personal guarantee. According to many Balboa Capital small business loan reviews, online applications only take a few moments and once it has been approved the funds are almost immediately obtainable.

Upon funding, Balboa Capital charges a 2% origination fee and competitive interest rates that will be given to the applicant before confirming. Verified Balboa Capital reviews reported that interest factor rates fall between 12%-14% for 22 payments per month. A UCC lien will be filed on your business upon funding and a hard credit pull will also be performed.

Repayment terms are straightforward and can be made daily, weekly, or monthly. Cash advances tend to be more expensive in rates when paid back than loans. Regardless, they are much easier approved to those with low credit scores.

Upon approval, a consultant will make sure that you are aware of all the terms, rates, fees, and conditions. Small business loan funds have no restrictions and 50% of it can be used to repay current debt.

Balboa Capital Reviews

Balboa Capital achieves an A+ BBB rating and has been accredited with the Better Business Bureau since 1999. Customer reviews on the BBB platform aren’t as positive as we would’ve hoped, but most complaints are resolved and deal with the COVID-19 outbreak in 2020.

Other online Balboa Capital customer reviews are quite positive

• Glassdoor gives it a 4.3-star rating out of 219 votes
• According to 64 reviews on Reddit Balboa Capital gets a 3.3-star rating
• Trustpilot star rating of 4.5 out of 262 reviews

Wrap-Up

After successfully completing its largest and sixth securitization in October 2019, Balboa Capital increased its lending capacity, allowing them to support even more small businesses through cash injections.

Not only do they provide nationwide coverage with five different office locations, but they also have over 200 employees who can support you through the process. It is clear through the numerous Balboa Capital reviews from clients and employees, that this well-established direct lending company is perfect for entrepreneurs.

Join thousands of satisfied clients and apply for a loan today.