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  Balboa Capital Business Lines of Credit
Balboa Capital Business Lines of Credit
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Balboa Capital Business Lines of Credit

Unaffiliated
in Business Lines of Credit from Balboa Capital
Net Recommendation Score +100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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APR 4% - 8%
Credit Score Range 560 - 850
Loan Amount $5,000 - $250,000

Balboa Capital Business Lines of Credit Review

Balboa Capital Business Lines of Credit is offered by Balboa Capital, founded in 1988 and based in Costa Mesa, CA. Balboa Capital Business Lines of Credit is available in 51 states across the USA.

Balboa Capital Business Lines of Credit FAQ

What APRs does Balboa Capital Business Lines of Credit offer?

Balboa Capital Business Lines of Credit offers a product that ranges from 4% APR up to 8% APR.

Does Balboa Capital Business Lines of Credit charge an origination fee?

Yes, Balboa Capital Business Lines of Credit charges an origination fee of 0% to 4% of the line of credit amount. Balboa Capital Business Lines of Credit deducts the fee directly from your line of credit amount before disbursing the fund, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Balboa Capital Business Lines of Credit set on the purpose of the line of credit?

Balboa Capital Business Lines of Credit considers line of credit applications for business purposes, such as:

Does Balboa Capital Business Lines of Credit charge prepayment fees?

Yes, Balboa Capital Business Lines of Credit charges additional fees to borrowers who pay off their lines of credit sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a line of credit early.

How much can you borrow from Balboa Capital Business Lines of Credit?

Line of credit amounts start at $5,000 and go up to $250,000.

What is the maximum term you can get with Balboa Capital Business Lines of Credit?

Balboa Capital Business Lines of Credit offers business lines of credit with terms ranging from 3 to 84 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.

What do you need to qualify for Balboa Capital Business Lines of Credit?

Applicants with a credit score of at least 560 and up to 850 may be eligible for Balboa Capital Business Lines of Credit.

Balboa Capital Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Balboa Capital Business Lines of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

To qualify, applicants may need to provide the following documentation:

What are the business financing requirements for Balboa Capital Business Lines of Credit?

To apply for Balboa Capital Business Lines of Credit, the applicant needs to provide the following documentation:

Does Balboa Capital Business Lines of Credit report your account activity to credit bureaus?

Yes, Balboa Capital Business Lines of Credit reports your account activity to the following credit reporting agencies:

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

What types of business lines of credit does Balboa Capital offer?

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Message From Balboa Capital

A business line of credit is a fast and easy way to access money for your company. Are you looking for a fast and easy way to access short-term financing for your company? A business line of credit from Balboa Capital is an excellent option. It lets you draw funds from a set amount of money using your primary business checking account. You can use the funds for any business need you have, such as bills, supplies, inventory, marketing, and employee payroll. A credit line can also be used as a source of off-season capital to help your company stay afloat during a slow sales period. Our credit lines are unsecured, which means you will not have to put up collateral such as real estate or business vehicles, and the amount of paperwork required is minimal.

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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Annual Fee $0
Application Fee $0
Origination Fee (%) 0% - 4%
Business Financing Requirements
  • No Outstanding Liens
  • Business License
  • Business Bank Account
Credit Score Range 560 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $300,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
Collateral Requirement Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Inventory
  • Payroll
  • Hiring
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options
  • Automatic Payments
  • Bank Transfer
APR 4% - 8%
Loan Amount $5,000 - $250,000
Loan Term 3 - 84 months

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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