Balboa Capital Corporation

Andrew R. 

on BBB

4 years ago

company sucks,as a condition of my loan, I had to provide proof that my equipment purchase was insured, which I gave them. my ins was fine, then 3 month later , with no knowledge to me they started adding a $118 a month fee for non insurance. I have been trying to resolve this issue with them since before Christmas, and her it is, valentines weekend, and nothing but a run around. takes weeks until they respond to emails but when I stop payment of my loan they can contact the next day 

Roman S 

on BBB

4 years ago

I felt discriminated by balboa Capital I applied for a business equipment loan and they approved me but once they find out I wasn’t a US citizen the call me and deny me the loan. This is very upsetting. 

Jayne B 

on BBB

5 years ago

If there was some way to give them a zero or negative number I would. I concur with EVERY customer below. I genuinely need to find out HOW TO GET AN INVESTIGATION GOING into this company! 

Virginia R 

on BBB

5 years ago

During the Covid-19 pandemic, they have placed liens on accounts along with telephone harassment. This organization's practice fits the profile of "moderate day loan sharking." Not sure how they can retain their license/s and proceed with illegal practice/s. Save yourself, do not apply for a loan/s. The business needs to be shut down! 

Slade L. 

on BBB

5 years ago

I will never use Balboa Capital again! We have been in business for over 50 year and have never had a worse experience with financing any purchase ever. We financed a piece of heavy equipment through Balboa Capital 2 years ago. First off, they were deceptive about terms and payoff penalties. The salesman reassured me that there were no early payoff penalties. 2 months into the loan we were going to pay it off in full out of disappointment with Balboa to get them out of our hair. We were promptly told that we would need to pa... read more

Lisa B 

on BBB

5 years ago

Would advise anyone against using them as a lender. During COVID-19 other creditors have been wonderful to work with to defer loan payments except this company. I was told by another lender that everyone is to give deferment options during this crisis. During our time with them we have never missed a payment. This company is not friendly. 

DB Cuts LLC 

on BBB

5 years ago

I will never use Balboa Capital Corporation again. We have worked with all our vendors for the 13 hair salons during the Covid-19 crisis and landlords, utilities, credit cards, loans and ALL have been flexible and willing to work with us through the crisis. Balboa would not give deferrals or any pay plan and started the default process. On top of that, they don't have a process to alert their customers if the customers don't have Proof of Insurance on file. I was an insurance agent many years and company's employ a alert sys... read more

Peterson P 

on BBB

5 years ago

I am a CA business owner with equipment financed through Balboa. During COVID outbreak, most CA businesses were not generating any income so I asked them about deferring payments, especially in light of the fact that other leasing companies were offering that as an option. They told me there are a small company and can't afford offer deferred payments. I understand that but I'm also a small company and can't afford to make payments! I was able to get deferred payments from two other companies. Very frustrating! I won't ever ... read more

Ellen B 

on BBB

5 years ago

I would strongly advise not to conduct any business with this company. I am a NYC business owner with equipment financed through Balboa. During COVID outbreak when almost all NYC businesses were not generating any income I asked them about deferring payments - as most other financial institutions offered. These people told me “you have to apply for SBA, we are not offering any deferrals or any other options”. It took me less than 24 hours to get payment deferral for my other Financed equipment with another company. I was str... read more