Last Updated: 04/18/2025
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Highlights
APR (Fixed APR)
4% - 8%(Verified 06/21/2024)
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Credit Score Range
560 - 850
Amount Range
$5,000 - $250,000
Balboa Capital Business Lines of Credit Review
Balboa Capital Business Lines of Credit is offered by Balboa Capital, a direct lender founded in 1988 and based in Costa Mesa, CA. Balboa Capital Business Lines of Credit are available in states.
Balboa Capital Business Lines of Credit FAQ
What APRs does Balboa Capital Business Lines of Credit offer?
Balboa Capital Business Lines of Credit offers an APR 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.
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.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Balboa Capital Business Lines of Credit.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Bank account information
- Business formation documents
- Proof of identity
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:
- No outstanding liens.
- Business license
- Business bank account
Does Balboa Capital Business Lines of Credit report your account activity to credit bureaus?
Yes, Balboa Capital Business Lines of Credit reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Balboa Capital perform a hard credit pull?
Yes, Balboa Capital Business Lines of Credit performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
What types of business lines of credit does Balboa Capital offer?
Balboa Capital only offers unsecured lines of credit.
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Balboa Capital Business Lines of Credit Community Reviews
Would you recommend Balboa Capital Business Lines of Credit to your friends?
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Devin C.
Jan 12, 2022
May or may not recommend
It's great for easy access and allocation to the application
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