Balboa Capital Business Loans: An In-Depth Review

Balboa Capital review: This article provides an in-depth review of Balboa Capital. It includes a step-by-step guide of the application process and a description of the products available.

“Business owners are busy running their companies. The last thing they want is a lengthy loan process, particularly if they need their funds right away. That’s where Balboa Capital can help,” says Balboa Capital CEO Patrick Byrne.

Balboa Capital is an independent, tech-driven company that has funded over $5 billion since its inception in 1988. If your business is looking for fast access to a business loan without strict credit requirements, keep reading to find out how Balboa Capital can help.

Balboa Capital loans

“Financing plays a role in helping businesses of all sizes achieve their full potential. Balboa Capital’s mission is to change the way businesses secure growth capital and, in turn, fuel their growth and success,” says Byrne. He adds, “To do this, we developed next-generation lending products, tools, and technology that simplify the entire process.”

Business owners are busy running their companies. The last thing they want is a lengthy loan process, particularly if they need their funds right away. That’s where Balboa Capital can help”

What are these products, tools, and technologies? Here’s the run down.

Small business loans

If your small business has at least $300,000 in annual revenue, you will likely be able to get a small business loan. There are no restrictions on how you use the funds. If you are looking to borrow $250,000 or less, you only need to provide basic information and can get the loan without paperwork or collateral. For loans from $250,000 to $2 million, you will need to submit full financials.

Commercial financing

If you are a middle-market company with annual revenues of at least $10 million and need a commercial financing partner, Balboa Capital can help. It provides loans up to $100 million, which can be used for capital equipment purchases, expansion initiatives, technology refresh programs, and more.

Equipment financing

If your business needs equipment, technology, vehicles, software, etc., Balboa Capital offers same-day funding up to $250,000.

Equipment vendor financing

A program is also available where equipment vendors can partner with Balboa Capital to help their customers access equipment financing up to $250,000.

Franchise financing

If you’re a franchise owner who needs capital to invest in your business, Balboa has many options. It offers same-day funding up to $250,000, working capital financing up to $1 million, credit lines up to $1 million, and financing plans up to $1 million per owner/operator.

Tools and technology

In addition to providing loans, Balboa Capital also offers tools and technology to make the financing process easy and hassle-free.

For starters, it developed an intuitive online platform to simplify the application process. “Calculators provide instant estimates, applications can be completed and submitted in a matter of minutes, and sophisticated credit scoring technology provides instant decisions. It adds up to a faster, easier, and more convenient experience for business owners,” says Byrne.

Furthermore, Balboa Capital developed an online platform for equipment vendors to make financing more efficient and profitable. Portal360 is the name and it allows you to manage all aspects of your financing transactions through one easy-to-use interface. It streamlines the application process for the customers of vendors with the technology mentioned above.

You can also track all of your financing transactions and see the progress with real-time status bars. Additional features include reporting, goal setting, and a finance calculator that enables you to give instant quotes to customers.

These are just a few examples. They also offer marketing support, branding, and small business resources.

Eligibility

Balboa Capital says that all credit scores are considered, so don’t let a low credit score stop you from applying. When it comes to assets, Byrne says, “We don’t require any collateral, which presents applicants with a better chance of getting approved.”

There are requirements for annual revenue, some of which have been mentioned above. The best way to find out if you qualify is to head over to the website and fill out the quick form.

Start here.

“After applying for a loan on our website, business owners will get an answer right away. Plus, our working capital experts call applicants to help them select the best loan solution for their needs, and answer any questions they have. Once approved, we can fund up to $250,000 in as little as three days.”

Benefits

The first main benefit Balboa Capital offers is speed. Byrne says, “If a business owner goes to a bank in mid-September needing $150,000 to fund a remodeling project and purchase inventory and they need the money before October, it might not happen.”

Balboa Capital’s loan solutions are unsecured and designed for business owners who need fast access to cash without having to deal with stringent credit and collateral requirements.”

He adds, “Getting a loan approved from a traditional lender is a time-intensive process that requires collateral, a lot of paperwork, and a high credit score. Balboa Capital’s loan solutions are unsecured and designed for business owners who need fast access to cash without having to deal with stringent credit and collateral requirements.”

Balboa Capital also shines when it comes to customer service.

“In addition to quick approvals and funding, we afford business owners the confidence of knowing we are a reputable direct lender that has funded more than $5 billion to business owners nationwide. And while we are a technology-driven financing company, we never forget the importance of good customer service,” says Byrne.

Nothing validates a company and their product more than honest customer reviews, and Balboa Capital’s customers consistently sing its praises with statements like, “Easy approval and funding!! Would definitely recommend this company to other business associates!!” and “Could not have been easier. Everything was emailed with an easy contract.”

Balboa Capital Review: The bottom line

Balboa Capital is a good lender for established businesses to turn to if they need financing. The application process is painless, the company is reputable, and many loans can be processed completely online.

How to apply for Balboa Capital

How does this easy application work? Here’s the step-by-step breakdown.

Step 1: Click here and go to “Request Funding.”

Balboa Capital Review

For Small Business Loans

Step 2: Select “Get Funded” in the Small Business Loans box.

Balboa Capital Review

Step 3: Provide information about your business and click next.

Balboa Capital Review

Step 4: Provide personal information, agree to the terms and conditions, and click submit.

Balboa Capital Review

For an Equipment Lease

Step 3: After following steps 1 and 2 above (i.e. select “Get Funded” in the Equipment Leasing Box), provide company information and click next.

Balboa Capital Review

Step 4: Provide personal information, agree to the terms and conditions, and click submit.

Balboa Capital Review

For Franchise Financing

 

Step 3: After following steps 1 and 2 above, click on “Get Funded” in the Franchise information box, and click next.

Balboa Capital Review

Step 4: Provide the Franchisee information, agree to the terms and conditions, and click submit.

Balboa Capital Review

For Commercial Financing and Vendor Financing

Balboa Capital Review

 

Step 2: Fill out the form on the right-hand side of the page and submit it. A representative from Balboa Capital will contact you soon after.

Balboa Capital Review

Balboa Capital Review

Apply with Balboa Capital

If you are interested in finding out what you qualify for with Balboa Capital, click here to learn more and start the application process.

If you’d like to compare various lenders, check out Supermoney’s Business Loans Review page where you can review a number of lenders side-by-side to decide which one offers the best solution for your situation.

Have you had an experience with Balboa Capital? Help future borrowers by sharing it in the comments below.

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