Balboa Capital Small Business Financing Review

Pros and cons.

Pros

• Best for heavy machinery financing
• Same-day funding with a simple application process
• Multiple loan options available
• Available across all 50 states
• Time in business requirement of one year

Cons

• High minimum annual revenue requirement of $300,000 for standard term loans
• Potentially high factor rates

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Loan offerings through Balboa Capital.

Balboa Capital caters to a wide range of business needs through its diverse loan offerings, aiming to support small businesses in various stages of growth and development. The lender’s portfolio includes cash advances, SBA 7(a) and SBA 504 loans (offered through Ameris Bank), equipment financing, and more.

Balboa Capital offers flexible qualification requirements and a streamlined application process to help small businesses get the financing they need quickly.

By offering a comprehensive suite of financing products, Balboa Capital aims to be a one-stop financing solution for small businesses across the United States, addressing immediate cash flow issues as well as facilitating long-term growth and expansion plans.

This table will focus on Balboa Capital’s equipment loans, since that is the lender’s most well-known program.

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Things to consider.

Quick funding times.

One of the standout features of Balboa Capital’s loan services is their quick funding times. Whether for urgent equipment purchases, unexpected expenses, or cash flow shortages, Balboa Capital’s ability to provide same-day funding following a simple application process sets them apart in the competitive landscape of small business financing. 

Financing range.

Balboa Capital offers a wide range of financing amounts, from as low as $20,000 to as much as $5 million, depending on the type of loan and the borrower’s qualifications. This broad financing spectrum is designed to accommodate the diverse needs of small businesses, whether they’re looking to make minor upgrades, purchase new equipment, or fund significant expansion projects. 

Wide range of loan programs.

Balboa Capital distinguishes itself with a comprehensive array of loan programs designed to meet the unique needs of small businesses. From the agility of cash advances to the substantial support of SBA loans and the specificity of equipment financing, Balboa Capital ensures businesses can access the right type of funding at the right time. 

Loan requirements

To be eligible for most of Balboa Capital’s loan programs, a business must meet the following requirements:

• A minimum of one year in business.
• A minimum of $100,000 in annual revenue for equipment financing loans and $300,000 in annual revenue for standard term loans.
• A minimum credit score of 620.

Businesses applying for small business financing through Balboa Capital must also provide additional documentation. This can include financial statements, tax returns, and proof of ownership.

Repayment options

For most loan types, Balboa Capital provides terms ranging from 3 months to 5 years depending on the loan type, allowing businesses to choose a repayment period that best fits their needs and financial planning.

Fair customer reviews.

Balboa capital has an A+ rating from the Better Business Bureau and a 3.5 star rating on Trustpilot. This bodes well for potential borrowers looking for business financing through them.

Evaluation

Balboa Capital is best for:

• Quick and simple financing . Balboa Capital offers same-day funding with a straightforward application process, making it an excellent choice for businesses needing rapid financial support.
• Nationwide availability. Serving small businesses across all 50 states, ensuring that location is not a barrier to obtaining financing.
• Large equipment purchases: Balboa will finance heavy equipment purchases up to $500,000.

Where Balboa Capital might fall short:

• High revenue requirements. The minimum annual revenue requirement of $300,000 for standard term loans may exclude smaller businesses or startups that are still in the early stages of revenue generation.
• Limited variety of loan options. Balboa focuses primarily on equipment financing and cash advances.

How to apply for financing with Balboa Capital through Lendio.

Applying for financing through Balboa Capital via Lendio is a streamlined process designed to connect your business with the funding it needs with minimal hassle. Lendio is a small business loan marketplace with multiple lenders that will help match small businesses with loans that suit their unique needs. Here’s how you can get started:

1. Complete Lendio’s online application form: You will need to fill out a brief online application on Lendio’s website. The form asks for basic information about your business, such as its name, how long it’s been in operation, your monthly revenue, and the amount you’re looking to borrow.
2. Documentation submission: Alongside your application, you will be asked to submit documents that verify your business’s financial standing. These could include recent bank statements, income statements, balance sheets, and tax returns. Having these documents ready in advance can speed up the process.
3. Review and acceptance: Once your application is submitted, Lendio will match you with potential lenders that fit your needs. If Balboa Capital is a good fit for your financing requirements, you will receive an offer outlining the terms of the loan. Review these terms carefully to ensure they align with your business goals and repayment capabilities.
4. Finalize the deal: If you decide to proceed with Balboa Capital, you will work directly with their team to finalize the loan details.

The bottom line.

Balboa Capital stands out as a robust financing option for small businesses that value flexibility and speed.

Ready to compare Balboa Capital with other financing options? Check your eligibility on Lendio and get multiple financing offers for your small business in one place.

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