Balboa Capital Corporation

stephen s 

on BBB

a year ago

Stay away from this place. Borrowed $30,000 from Balboa at the equipment dealers suggestion. I was told by Balboa, both verbally and by email that there was no penalty or fee for an early payoff. When the payoff amount was requested, one week after the loan opened, I owed $37600 dollars to satisfy the loan. They charge the full interest of the length of the loan upfront. The interest rate was supposed to be 5%. The $7600 extra is more like 30%. They flat out refuse to send an ammortization sheet for the loan. The payoff quot... read more

Raul G 

on BBB

a year ago

I had a highly disappointing experience with Balboa Capital Corporation. Initially, they promised great terms, emphasizing that their loans were straightforward with no hidden fees or penalties. However, after signing the agreement, I discovered that they had buried several critical conditions in the fine print.One of the most misleading aspects was their claim that there was "no prepayment penalty." What they failed to mention upfront was that if you decide to pay off your loan early, they require you to pay not only the re... read more

Michael B 

on BBB

a year ago

Extremely unprofessional. They call me often and I usually send to voice-mail. I noticed the number calling was a local number so I answered. The man began telling me they have lower rates,I said to him that I asked them to not call me. The man immediately snapped "You never told me anything so don't start getting a Fuc$%ng attitude with me" I was so angry that this man calling for my business thought that cursing at me for telling him I previously requested they not call,was the best professional course of action to aquire ... read more

Ned N 

on BBB

a year ago

Collection Supervisor at Balboa Capital did not respond to my emails and phone calls. After I sent proof of this lack of communication apparently it was not appreciated. My communication had to do with my request for early payoff of equipment I was financing. This information was never forthcoming and as I was falling behind on payments.This caused issues where I lost the buyer while Collection Supervisor at Balboa Capital for some unanswered reason continued to raise the payoff amount. Next to this fiasco they filed a lawsu... read more

Cynthia L 

on BBB

a year ago

In 2016 our church acquired a 48-month lease to pay $18,000.00 for the purchase and installation to replace rooftop air conditioners. The original lease contract balance is $30,113.76 to fund. This amount and more was paid in full in 2020. Balboa Capital continues electronic withdrawals of $785.16 dollars from the church's account. We have paid on this account 90 months with the most recent payment made on June 7, 2024. I cannot believe this practice is legal. This is predatory and excessive. How can it be legal? I have trie... read more

Sean G 

on BBB

a year ago

Shady company with reps who will lie and mislead about fees, then hide charges into contract language despite assuring you that it means something else.I worked on a $75*********** financing lease with *********************. When we first began conversations, I asked him point blank if there were any additional fees for the loan other than the interest payments. He told me no. He said that I had to pay an initial deposit to cover the initial payment towards the loan. I did. Afterwards, I was told that my initial payment of $... read more

Blake M 

on BBB

a year ago

Would give negative stars if I could was talked into using them by a big auction company rather than using my normal finance company. They were hard to deal with so I decided to just pay off the loan when going thru my contract with them it gives early termination fees and how much it should be but when you call them for the payoff amount it's about $9,000 more than the contract says it should be but nobody will return calls or emails to get to the bottom of it. Looks like I'll just have to let the lawyers deal with them. 

Tricia A 

on BBB

2 years ago

Run away from this company. Ive purchased equipment through them and of course you cant buy it without having insurance so I produce the insurance and bought the equipment they make you go on ACH monthly payments, which is fine, so I really didnt pay attention and I caught up with the fact that they were not only withdrawing my monthly fee, but they were also tacking on additional insurance by the time I caught up with them They told me that they were not refunding all my money where I double paid for insurance, but they wou... read more

Joann S 

on BBB

2 years ago

Over the years, we have utilized several finance companies for our small business, and Balboa Capital has to be the worst. To start: most companies' statements are easy to read and make complete sense. Not Balboa; they lump multiple monthly loan amounts due on a single statement making it difficult to understand what they are doing. We've also had an issue with their claiming that they didn't receive proof of insurance so they charged us for insurance. Then when they are repeatedly given the insurance again, the reversal of ... read more