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  Balboa Capital Small Business Loans

Balboa Capital Small Business Loans

in Business Loans from Balboa Capital

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Balboa Capital Small Business Loans

Unaffiliated

in Business Loans from Balboa Capital

SuperMoney Net Recommendation Score +8

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +8, equating to 3.2 on a 5 point rating scale.

+8

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.

Mostly recommended

6 users recommend
1 user is unsure
5 users don't recommend
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Highlights
Community Rating Mostly recommended
Loan Amount $1,000 - $1,000,000
APR  (Fixed APR) 4% - 8%
Loan Term (Months) 3 - 84 months
Number of Reviews 12

Balboa Capital Small Business Loans Review

Balboa capital is a business financing offering by Balboa Capital, based in Costa Mesa, CA. Founded in 1988, Balboa Capital offers access to small business loans in 50 states (and Washington, DC).

Balboa capital FAQ

What are Balboa capital’s rates?

Balboa capital offers a fixed APR business financing product that ranges from 4% APR up to 8% APR.

Does Balboa capital charge an origination fee?

Yes, Balboa capital charges a loan origination fee starting at 0% of the business loan amount. Balboa capital deducts the fee directly from your business loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Balboa capital set on the purpose of the business loan?

Balboa capital considers business loan applications for business purposes, such as:

  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of small business loans does Balboa capital offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Balboa capital provides access to the following business loan types:

  • Secured Term Business Loans
  • Lines of Credit
  • Merchant Cash Advances

Does Balboa capital charge prepayment fees?

Yes, Balboa capital charges additional fees to borrowers who pay off their small business loans 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 business loan early.

How much can you borrow from Balboa capital?

Business loan amounts start at $1,000 and go up to $1,000,000.

What is the maximum business loan term you can get with Balboa capital?

Balboa capital offers small business loans with terms ranging from 3 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Balboa Capital Small Business Loans?

Balboa Capital Small Business Loans requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $300,000 to be considered.

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

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 Small Business Loans 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.

U.S. citizens are, of course, eligible for the services offered by Balboa Capital Small Business Loans. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Proof of identity
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Balboa Capital Small Business Loans

Do you need immediate cash for your company? Balboa Capital is a leading provider of small business loans, and we make the entire process a snap. You can apply for a small business loan from your computer or mobile device in a matter of minutes, and we only ask for basic information about you and your business. There are no piles of paperwork to fill out, and no collateral is required for certain loan requests. Automated technology will review your loan application promptly. This accelerates the process, saves you time, and lets us provide you with a decision right away. Once your application is approved, one of our helpful business funding specialists will contact you to discuss your options, finalize your loan agreement, and answer any questions you have. You can then get back to doing business as usual and go about your day, because your cash will soon be on its way.

Message From Our Editor

What We Love About Balboa Capital Business Loans

Financing is important for all businesses, but it’s not always easy or fast to get the financing needed. We like quite a few things about the company and what they can do for businesses.

There aren’t any restrictions on how you use the funds you get through your small business loan from Balboa Capital Business Loans, which is nice. It should be possible to get a loan for a small business if you meet the minimum requirements. There are also options for commercial financing, equipment financing, equipment vendor financing, franchise financing, and more. Balboa Capital Business Loans also says that all credit scores are considered, and the company doesn’t require any collateral.

Balboa Capital Business Loans has excellent customer service, and the process of applying for and getting a loan is fast. Overall, there’s a lot to like with this lender.

What Balboa Capital Business Loans Could Do Better

While it is easier to qualify for a loan with Balboa Capital than with other business loan providers, not everyone will get approved. For example, you will need to satisfy the annual revenue requirements, which many small businesses can't meet. 

Balboa Capital Business Loans’ Backstory

Balboa Capital Business Loans has been around since 1988. With over three decades in the field, this independent company has funded more than $5 billion. The company began with the goal of making it faster and simpler for companies to qualify for and receive their loans, and they’ve been quite successful in this mission.

The Verdict

Overall, there are plenty of benefits to using Balboa Capital Business Loans. The company makes the process of applying as simple as possible. They have clear terms, it’s all easy to understand, and they have an excellent customer service department. They are well worth considering for your next business loan.

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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

Origination Fee (%) Starting at 0%
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
Approval Speed 1 hour
Loan Amount $1,000 - $1,000,000
APR (Fixed APR) 4% - 8%
Loan Term 3 - 84 months

Balboa Capital Small Business Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +8, equating to 3.2 on a 5 point rating scale.

+8

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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