As a result of this rapid growth, Balboa was ranked at 67/500 on, During the following years, Balboa Capital expanded its services to include small business loans, commercial and franchise financing, and merchant cash advances. Click here to get notifications about new complaints of Balboa Capital. On, Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Submit a complaint and get your issue resolved. You can also read our community reviews and hear what others have to say about their experience with Balboa Capital. 3.5 Work-Life Balance. Leased some computer equipment with a dollar buyout. Which I did and then they said "are you interested now?" After we complete this contract I will be approaching them for future needs. Balboa Capital asks for additional financial statements for small business loans over $250,000. What Do Balboa Capital Reviews Typically Focus On? Borrowers can also renew their Balboa Capital loan after paying down 50% of the loan. What Do You Need to Apply for a Balboa Capital Loan? Since its inception, Balboa Capital has provided around $5 billion to small businesses. Watch every word their contract says. We place our customers first and pride ourselves on being recognized as a nationwide leader in the equipment financing industry. They will say you have one payment left or two payments left when I inquired but will keep charging beyond those one or two payments. Balboa Capital products offer three main loan business financing options: short-term loans, equipment loans, and a business line of credit. DO NOT use Balboa - if you do, you are a fool. Reply More Balboa Capital reviews & complaints Balboa Capital - not honoring buy out 14 Resolved Balboa Capital - lied about $1 buy out 3 Resolved Balboa Capital - high fees 2 Resolved Balboa Capital - predatory fraudulent loan 1 Balboa Capital - lied about $1 buyout and extra charge 2 Resolved Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL. Business Loans Lender Reviews Balboa Capital Review. "What is this $479 fee?" As such, they can offer loans without having high credit score requirements. The parent company of Balboa Capital is Balboa Capital Inc.. 17 We should form a coalition and and file a c lass action suit. Balboa Capital doesnt accept loan applications fromapplicantswith unpaid tax liens over $75,000. Balboa Capital is one of the largest independent financing companies in the United States. Do not trust anything they say! Only 29% of 0 complaints were resolved. This account has been verified by Balboa Capital customer service / representatives through our verification process. Simple and streamlined application process. Always willing to help even after work or on weekends. On the Balboa Capital YouTube channel, there are over 50 unscripted testimonials from customers in varied industries, including musical instruments, woodworking, health care, and tire repair. In this article, we will do some of the research for you and conduct a detailed review of one of the largest lease companies in the US: When you look at the massive company that Balboa Capital is, it is hard to imagine that it started with, In the span of just four years, its sales grew by 2,652%. They would not refund the security deposit and unauthorized extra payments taken out from the account. They have an amazing [protected]@balboacapital.com. However, Balboa capital will review your personal and business credit during the funding process. Chula Vista. I NEVER received any letter from them and this is NOT the lease terms that I agreed to - they baited me with one term and had me sign another. If there is anything you are unsure of, you should discuss it with the leasing company or have a lawyer look over it for you. How to File a Complaint With the Better Business Bureau In our contract, we have to give written notice between 270 days to 180 days, or they will rob you for another year, which is pure profit to them I still dont understand why they have changed the conditions. In some instances, some clients experienced being charged an insurance fee and had to provide money as a deposit. DO NOT use Balboa - if you do, you are a fool. Another lease for a year even if you have told them to finish the lease contract. When applying for financing, you are assured of legitimacy since Balboa Capital has been around since the 80s. People are trained in that department to extort money from small business owners. You can also get a Quick Quote before officially applying for a lease or try out the Section 179 Tax Calculator. Balboa Capital said that I owe them the fair market value of lease at end of term. Run, don't walk away from these guys. On January 2023 . BL Blank 1 review US May 1, 2023 Fast and Easy Service We received funding to expand our automotive shop. Really bad experience! I don't feel sorry for mr. Stockton, but i'm sure he won't make that mistake again! Discuss the issues you have had with Balboa Capital and work with their customer service team to find a resolution. She did not want to check any records. Thanks to Balboa Capital, small business owners have a chance to receive financing options no matter what your industry or how lean your basic loan documentation is. You should not trust a website that appears to be parked, especially if you have already paid money to the website. The companys loan products have amounts ranging from $5000 to $250,000, and there is no specified minimum required personal credit score. If you are an owner trying to compare lenders and their business loan offerings, you can use the loan calculators on Balboa Capitals website. This could lead to more sales for the vendor company. The financing person who helped us acknowledge it but was only willing to change to $1 buyout lease if we were to finance another Do not lease anything from this company! I made the mistake of trusting michael della. Customers may face long wait times for responses, receive generic or unhelpful answers or no response at all. Randy Ly of US. 07/14/2021. We had financed a new piece of equipment with Balboa Capital about year and half ago and were lead to believe we were signing up for a $1 buyout of the equipment but realized later the paperwork stated fair market value buyout. We had an offer letter from balboa capital and decided to give them a try. brainchild of Patrick Byrne and Shawn Giffin, lenders and their business loan offerings, cash flow for day-to-day things that might pop up. Whether its a small business loan or equipment financing, you can count on us to structure and deliver the best solution for your companys needs, and to provide you with the responsiveness and dedication that have earned us full accreditation with the Better Business Bureau (BBB). 22 reviews for Balboa Capital, 3.8 stars: "I was informed that I'm approved but they can't finance the truck do to the owner of the truck had a bankruptcy. Borrowers could also potentially boost their credit since Balboa reports to the credit bureaus. Applying to Balboa Capital impacts your credit as the lender runs a hard credit pull. With over a quarter of a century of experience, Balboa Capital is one of the largest lease companies in the US. 6. As with many customers, there is a mix of positive and negative Balboa Capital reviews online. We give Balboa Capital a rating of 4 out of 5. Balboa Capital is a financial services company based in Irvine, California. I felt very comfortable with the process. This review was chosen algorithmically as the most valued customer feedback. My representative was easy to communicate with. Balboa Capital website is deemed to be popular and indicating that it receives a high volume of traffic. They are rated A+ by the BBB, you would think that the BB would have a better understanding than a few local business ownersjust saying. Read the whole contract and be aware of thepitfalls. I'm buying the truck you're financing me not him. Balboa Capital Is this your company? License#: 1802 Institution Name: Balboa Thrift and Loan Association CEO: Debbie Escobedo Address: 865 Amena Court Chula Vista, CA 91910-7802 Phone: 619-397-7770 DFPI Contact: Laura Carlson The ones that stick around and continue with this companies scam simply don't care. Customer service rep was great! Balboa Capital Review Balboa Capital was founded in 1988 and is based in Costa Mesa, CA. I have called repeatedly to get this fixed but no one will return my call or take the effort to get it fixed. Get a credit decision However ComplaintsBoard has detected that: You deserve this in lieu of how you treated me as a patient. (Attachments: #1 Exhibit 1 and 2) (Attorney Brian Da Costa added to party Balboa Capital Corporation . The first complaint is them charging over $2000 in fees not disclosed at the time of the lease. Inc.com suggests other ways of funding. Since its inception, Balboa Capital has provided around $5 billion to small businesses. No materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. Ameris Bank Acquires Balboa Capital Corporation, a Premier Online READ THE CONTRACT or better yet, just stay away. Monthly payments are the standard for Equipment Financing borrowers. And thats what we want to do with you. Now they Share your photos and videos with others to prove the truth of your words. Business.com hailed Balboa Capital as the Best Alternative Lender for Small Business in 2018. Read full review of Balboa Capital and 3 comments, Read full review of Balboa Capital and 1 comment, Read full review of Balboa Capital and 25 comments, Read full review of Balboa Capital and 14 comments. The Business Line of Credit funds ranges from 00 to 0,000 with a factor rate of 1.1. to 1.2. 2016 Alert: Dallin Hawkins Files Chapter 7 Dallin Hawkins Served with $53,000 Default Judgement Bulletin Board Complaint Update The Issue of the Balboa Legal Case Not the BBB Rating But the Actual BBB Complaints Balboa Capital Gets Win in Bait and Switch Purchase Option Case Balboa Capital Tagged for Quarterly Payment Scam California Dreamin of Business Solutions. Communications was timely and the whole process took only a couple of days. Job Title. 33 Trusted Reviews & Ratings: Balboa Capital Corporation - TrustLink To anybody reading this DON'T use Balboa for any financing bad company! Apart from the additional charges and upfront costs, there were other fees, such as insurance andsales tax, including a termination fee of $479. I trusted them and signed without reading the fine print so, it was my fault. really glad I found this thread first. Date of experience: November 24, 2016 Useful Advertisement BL Babette Lewis, Bookkeeper 1 review US Aug 7, 2017 Balboa Captial Review The process was completed in an efficient and timely manner. Very rightfully - this lender HAS ZERO customer service. Especially with leases, this is so common. 287 people have already reviewed Balboa Capital. But the contract's paragraph 16 has monthly payment provision for after lease rental and there is no quarterly payment provision. In the span of just four years, its sales grew by 2,652%. Balboa Capital's comprehensive financing capabilities include equipment leasing, small business loans, commercial financing, vendor financing, and franchise financing. Balboa asserts that this partnership can be beneficial because customers will have an easy financing plan already prepared for the equipment they want. Balboa Capital: 2023 Review Of Pricing, Complaints, & More Initial Complaint. 3.1 Management. These guys are the worst! Hi Mr. Abrams, Whenever you get involved with financial contracts and lease companies, it is crucial that you fully examine the contract. When he didn't meet an agreed a pond closing date he went off the deep end and yelled and threatened me about losing my $13,000 down payment. 13 Dec, 2021, 07:30 ET ATLANTA, Dec. 13, 2021 /PRNewswire/ -- Ameris Bancorp (Nasdaq: ABCB) today announced that its banking subsidiary, Ameris Bank, has acquired Balboa Capital Corporation, an. After I still made payment after term was up thinking that I would get a rebate after thet straightened out their paper work. Time schedule was met and all challenges were resolved. It has a solid track record of financing small businesses across diverse industries. "Well, we charge everyone that fee" 1001 Franklin Ave Suite 200, Garden City, NY 11530. Balboa Capital Lender Review | Best Small Business Lenders 2021 This account has been verified by Balboa Capital customer service / representatives through our verification process. However, I received a bill from them today for $550 due in 5 days w/ no explanation. We would never do business with Balboa Capital again and suggest others to be extra careful. Complete a short online application . They did not like this they would rather harass me on my phone. The BBB allows you to file a complaint online with just a few easy steps: Search for the company's name, and specifically search for the location where you did business if it's a nationwide business. As a side note: the article also suggests equipment leasing and specifically mentions Balboa as a lender. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers. Thus, their loan offerings are a fit if you want to apply for small business loans, need an average amount of funding of no more than $250,000, and can afford a medium-length repayment period of up to 18 months. Showing all 69 reviews. Not out front on terms and fees. If you are ready to be the slave for this BC company than just sign the contract, but if you read the fine print you will see that use your credit card to buy still many time cheaper than the lease it with them Problem after problem want return phone calls. Balboa Capital Review | Online Lending | Get Inside Info Here Balboa is a direct lender (not a brokerage) and does not require borrowers to have good credit. They think their buy out price at the end of the lease is a new truck. Lie after lie Please email us at customerservice@balbloacapital.com, or call us at [protected]. The BalboaCapital.com website highlights four main reasons why equipment leasing might be right for your business venture: The application for an equipment lease takes less than a minute to complete. February 21, 2018 Topics: Balboa Capital It's Time to Look at Online Lender Balboa Capital Balboa Capital is one of several lending companies in the online space. Wtf do you say to that. | Read 61-80 Reviews out of 282 This will surely increase the credibility of your complaint. BALBOA CAPITAL CORPORATION, a California Corporation, Defendant. ) What jerks you guys are and I hope you realize that I have told every small business owner in Provo and Orem that I work with never to use or contact you worthless people. Since I knew that gettinga loan for almost My issue is very similar to many who have posted. PDF United States District Court Central District of California - Southern RipoffReport.com has another specific complaint that accuses its staff of misrepresenting the deals and lying. However, some clients claim that they could not reimburse the deposit from Balboa Capital after the loan was paid. Defaulting on a loan could lead to Balboa filing a UCC Lien against business assets. Review AdvisoryHQs, Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Also review each firms site for the most updated data, rates and info. Everyone was very helpful throughout the process. We bought a business in 2006 and decided to add a piece of equipment which was priced at $12, 000 in january 2009. Made it an easy and smooth transaction. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. This company has been calling me every day since I requested information. Balboa Capital received an accreditation rating of A+ rating in the Better Business Bureau Reliability report. For example, one customer said they were told there were no early payment penalties but were charged a fee for paying off their loan early. We know the ins & outs of business funding. Since opening our doors, we have provided close to $5 billion in funding to businesses nationwide, and we have earned a reputation for outstanding customer service. Banks can deny loans for any reason, and if your business is especially small or new, it can be difficult to attract the attention of venture capitalists. Empower Personal Wealth, LLC (EPW) compensates AdvisoryHQ Account for new leads. I purchased 4 espresso machines for my restaurants; the transaction was smooth and efficient. My atty said hes never seen such a bad lease. The latest review sales call was posted on Apr 10, 2019. This complaint was posted by a verified customer. Thank you! Anyone interested, e-mail me at ohtrailer@aol.com. I requested that they send the information to my email as I use my phones for work all day and would rather not speak in person until I have reviewed what they have to offer. Equifax is a global data analytics company headquartered with 13,000 employees in over 24 countries. I barely escaped the clutches of this con job, If I did have a fair market lease why would I have to pay the county taxes? Balboa Capital Reviews | Read Customer Service Reviews of balboacapital Business owners shared that Balboa Capitals customer service team handled their inquiries and loan well. How Do You Apply for Balboa Capital Loan? Balboa Capital is lenient relative to traditional business lenders regarding its list of loan application requirements. Balboa Capital is a direct lender that caters to small business owners through its three main loan types: short-term loans, business lines of credit, and equipment financing.. Balboa Capital is pleased that we were able to successfully resolve the issue that you had with our company. She then hung up on me. Dont Miss: OnDeck Reviews What You Need to Know Before Using OnDeck. The girl that called was pushy and hung up on me. To get a quick cost analysis, Balboa also offers the Equipment Leasing Calculator. We are confident that we can regain your confidence so we can serve your financing needs again in the future. They knew what our intent was, but the rude lady can only say that they do not know because we didn't send it in a certified letter. So now we have the option to return the equipment (That we still need and thought we'd paid for) , or pay that amount. The email responses were very fast, and possibly thorough to an accountant, but as a business owner, I had to reply to emails to pull the information I needed out from customer service. Yelp: http://www.yelp.com/biz/balboa-capital-irvine About 4 months ago, I decided to upgrade one of my medical lasers at my office through a vendor ( Cutera, Inc. Pleasanton, CA) towards the end of March 2016. Apply online for funding You can apply online for any of the business funding products that we offer. I appreciate the lease, just wish I would get a straight answer. I had the owner call James him self talking about oh I just said that because what I promised moe a 4.5% finance rate but actually got 8% finance rate and that's why he didn't tell me the truth. You can either complete the, If you are starting a new franchise location or seek funding for another franchise-related venture, Balboa Capital has specific, The loans can be for up to $1 million per owner/operator, and the funds can go towards reimaging, remodeling or acquisition of a new location or new equipment. This allows them to extend loans to applicants who have lower credit scores, provided you can generate sufficient revenue to repay your debt. Everyone I spoke with was friendly and helpful. Balboa Capital has registered the domain name for balboacapital.com for more than one year, which may indicate stability and longevity. Next, we will cover the services that Balboa Capital offers for both small and large businesses. They are still practicing predatory lending. When I finally needed help, your company gave me a good rate to buy equipments that I need instead of renting.
