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. United States 69 reviews. 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. Job Title. It also demanded a deposit which, according to some, was not reimbursed. This review focuses on Balboa Capital's working capital products, including short-term loans and credit lines. This account has been verified by Balboa Capital customer service / representatives through our verification process. While this may be a good sign, it is important to approach these reviews with caution and consider the possibility of fake or biased reviews. (Attachments: #1 Exhibit 1 through 3) (Attorney Brian Da Costa added to party Ameris Bank dba Balboa Capital(pty:pla))(Da Costa, Brian) Access additional case information on PACER. We are currently going through the same exact experience with Balboa Capital. This is the kind of help that small businesses need every now and then to survive in this harsh economy.. Balboa Capital is a financial services company based in Irvine, California. FaceBook page: https://www.facebook.com/BalboaCapitalCorp/reviews/ I would recomend them to anyone who needs financing. My company has had two such experiences with this company, most recently regarding a lease for a one year software license which was financed as part of a settlement for a previous lease in which Balboa claimed we did not provide termination notice within the "at least 180 days before but not more that 270 days prior" to the termination. 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. "It's a fee we charge all of our customers at the end of the contract" Robert J. Shafer has always been helpful, honest and Excellent at what he does. In this Balboa Capital review, well answer the following questions and more: 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. Lease No: [protected] really glad I found this thread first. It is no secret that getting growth capital can be difficult. Other users claimed they were charged a non-insurance fee even after sending proof of insurance coverage. Balboa Capital has a priority claim to the assets that can be up for sale as compensation if you fail to pay your loan payments. Biggest mistake we have ever made was using this company.. all you have to do is look at the negative reviews all over the web. In some instances, some clients experienced being charged an insurance fee and had to provide money as a deposit. So I picked up the phone and with a short wait time, my questions were answered. Start by getting a free quote; for a small business loan, choose the amount desired, from $1000 to $250,000, and the desired term, from three months to one year. I was told today they sent a letter to me back in July and I never responded and was my fault if I didn't understand my lease. Equipment loan borrowers make repayments on a monthly or quarterly basis. That blew my mind. Balboa Capital has registered the domain name for balboacapital.com for more than one year, which may indicate stability and longevity. Our company developed an intuitive online platform that saves time and simplifies the entire process. Complete a short online application . Over the years, Balboa Capital received several accolades for its operation as one of the leading alternative lenders. Very helpful, polite and considerate. She did not want to check any records. I have asked them to refund the un-authorized payment and security deposit several times but they have not responded nor returned but keep charging/ sending invoices. Also, they indicated in the contract that all customers must inform them if someone wanted to move out. This company is very deceitful and apparently doesnt care about their clients opinion of them, look at all of the negative reviews. And thats what we want to do with you. Balboa Capital has attempted to contact Mr. Michael Stockton at his place of business, but we have been unsuccessful as it appears his company is no longer under his ownership. Short-term loans and lines of credit products can have daily or weekly payments, making it challenging for small business owners to keep their cash flow healthy. Balboa Capital Corporation Irvine, CA 92614 Rating - based on 33 reviews & complaints Balboa Capital is one of the largest privately held equipment finance companies in the US; we've been providing rapid funding and excellent service since 1988. You should not trust a website that appears to be parked, especially if you have already paid money to the website. This could lead to more sales for the vendor company. One of the suggestions is getting an alternative loan, like the ones offered at Balboa Capital. Balboa Capital reviews first appeared on Complaints Board on Jun 8, 2009. Transactions such as the application process, the loan agreement, and customer service are all done online/digitally. unauthorized charges and triple purchase amount buyout, their contracts are comprised in difficult and wrong for the customers' way, the company changed the conditions of the contract and started to take larger sum, Read full review of Balboa Capital and 2 comments. 2.9 Job Security & Advancement. Whenever you get involved with financial contracts and lease companies, it is crucial that you fully examine the contract. Thieves and underhanded deception.. I'm a contractor in MA and I leased a used JLG Lift for $14, 500 in March 2009 for 5yrs w/ Balboa via Financial Pacific. I still dont understand why they have changed the conditions. Longevity often suggests that a website has consistently provided valuable content, products, or services over the years and has maintained a stable user base and a sustained online presence. Multiple Balboa Capital reviews across the sites mention the fact that the individuals had problems because they did not fully read the contracts. At Balboa Capital, we pride ourselves on exceptional customer service and always reach out to our customers when needed, but unfortunately we are having a difficult time connecting with Mr. Stockton. 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. You will now see Ameris Bank reflected on your bank statement. We have many Balboa Capital reviews provided by some of our highly satisfied customers, which can be viewed at the link below: The first loan experience was LACKING. Increase Visibility, Top Financial Advisors in Toronto, Canada, Request a Free Award Emblem (Ranked Firms Only), Get Your Advisory Firm Featured Increase Visibility, Request a Personalized Page for Any Firm, Mortgages New Homes (Good-Great Credit), Mortgages Refinance (Good-Great Credit), two college graduates and an initial investment of $4,000. AdvisoryHQ Account is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC. And to top it off they are charging us $55 extra a month for property ins we are a storage facility (of course we have damn good ins), it is none of their business what our ins is nor is it their business to provide ins for us when i did not ask them for it. Business Loans Lender Reviews Balboa Capital Review. And if the customer didnt do it, they would ask him to pay for other 12 months of the lease. Individuals complained about unprofessional customer service and excessive fees. I had multiple problems from the beginning with the lack of communication and disclosure from Balboa and now I see it wasn't just me. My experience with Balboa was amazing. After filling out a franchise financing application, you can get a credit decision in as little as one hour. The BBB has 53 complaints on record and five negative customer reviews. Not only is balboa capital the worst ever leasing company, but they are all rude, belligerent and liars. Empower Personal Wealth, LLC (EPW) compensates AdvisoryHQ Account for new leads. Balboa Capital is pleased that we were able to successfully resolve the issue that you had with our company. This company needs to be shut down! BALBOA CAPITAL Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported Your Search: Balboa Capital There may be more reports for "Balboa Capital" For more results perform a general search for "Balboa Capital" Showing 1-19 of 19 Found Reports For more results perform a general search for "Balboa Capital" Terrible service Read about their experiences and share your own! 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. Only 29% of 0 complaints were resolved. Filing 1 COMPLAINT Receipt No: ACACDC-35557008 - Fee: $402, filed by plaintiff Ameris Bank dba Balboa Capital. Balboa Capital offers small business loans up to $250,000. The application online was simple. Equipment Co. To Pay Up To $3.3M To Settle Fax Spam Suit: http://www.law360.com/articles/490509/equipment-co-to-pay-up-to-3-3m-to-settle-fax-spam-suit Although we did not send the letter, nowhere on the lease agreement do the list an address to send such letter to. David was arrogant and rude i felt like he was lying to me didn't care about me or my business just wanted to get as high of an interest rate out of me as possible didn't care if a 2 year loan was bad for me. I was completely lied to, but because I signed, it's going to cost me 15k - the biggest financial mistake of my life. T what the fcuk is wrong with you ! They have very deceptive fine line conditions that allegedly puts you on In 1988, Patrick Byrne and Shawn Giffin started Balboa Capital Corp. as a business for high-tech equipment leasing. They called me today trying to sell me on their service. During the following years, Balboa Capital expanded its services to include small business loans, commercial and franchise financing, and merchant cash advances. More info. Initial Complaint. So do you always just sign financial documents without actually reading them? I asked them to send detailed payment statement. I can't help but feel that something should be done about this company. If you are starting a new franchise location or seek funding for another franchise-related venture, Balboa Capital has specific franchise financing options. Made it an easy and smooth transaction. 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.. Because Balboa insisted on paying the vendors direct (vs reimbursing us when the project was complete) we ended up with it costing less than originally planned. But they keep sending quarterly invoice to trick you into the payments. When the contract was finally signed, it was with some different contract person that came to the house with the paperwork all ready to be signed. Next, we will cover the services that Balboa Capital offers for both small and large businesses. 2. 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. 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: Balboa Capital. Overview 271 Reviews 2 Jobs 248 Salaries 72 Interviews 91 Benefits 525 Photos 41 Diversity + Add a Review Balboa Capital Reviews Updated Jun 13, 2023 Filter by Topic Remote Work Work Life Balance Management Coworkers Career Development Compensation Culture Workplace Benefits Senior Leadership Also, customers complained that during the height of COVID-19, Balboa Capital didnt offer leeway to its clients, like deferring payments or extending assistance to pandemic-stricken businesses. I purchased 4 espresso machines for my restaurants; the transaction was smooth and efficient. Balboa Capital Gets Very Weak Customer Support Rating. Please visit our Customer Service Center if you have questions. Really bad experience! Balboa Capital has bad customer service, they are liars, they don't care for their customers I have a feeling they don't want to be in business for a long time. Balboa Capital Corporation is privately owned and operated out of Costa Mesa, California. What Are the Advantages of Balboa Capital? When you look at the massive company that Balboa Capital is, it is hard to imagine that it started with two college graduates and an initial investment of $4,000. Click to view AdvisoryHQ's. > Funding Balboa Capital Business Loan Review Mike Berner Staff Writer Updated May 17, 2023 Balboa Capital is an alternative lender that provides numerous small business funding options, including short-term business loans and Small Business Administration (SBA) loans. Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. This is my second complaint against balboa capital. I have signed the contract with Balboa Capital. I dont think the bait and hook tactics are needed. This company clearly employs deceptive/fraudulent end of lease practices to gouge unsuspecting lessees at end of term. Just to be a smart ###. In particular, Balboa Capital gears towardequipment loans, vendor financing, franchise financing, and commercial financing. 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).
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