Balboa Capital Corporation

Anonymous 

on BBB

8 years ago

This company says it loans money to businesses. They actually call it rent. The terms they promise you in their email approvals are far from true. They hit you with a prepaid interest fee from the closing date to your supposed first payment due date equal to about one month's payment. Beware that at the end of what you think is a loan you will not own whatever you bought. You have to buy it at a very high rate. This business engages in VERY deceptive practicess. I did not sign nor should you. 

Bob 

on BBB

8 years ago

Do not use this leasing company run as fast as you can they are horrible doing business with and they cant tell the truth 

Pam W. 

on BBB

8 years ago

Balboa Capital lied to me about the buyout clause. I have a small business and was very clear that I was looking for a LOAN for some equipment. When the paperwork came through it said it was a lease. The sales rep said that it was technically a lease but that after the final payment, the equipment would be signed over to me for $1. They were very aggressive in pursuing my business. I have already paid over $22k on a loan that would have cost me $18k at my local bank. They randomly took money out of my bank account so that I ... read more

John Michael Events 

on BBB

8 years ago

BEWARE!! We leased $15K of equipment from them and will end up paying almost $30K at the end of the day. We didn't do a $1 buyout option with them and didn't give them a ridiculous 180 day notice to end the lease. So they renewed our lease for another year and are now telling us our buyout is $9500 for 3 year old equipment! They have no empathy or reasonableness with their customers. Would NEVER refer them or use them again. 

Paulette 

on BBB

8 years ago

I do not recommend entering into a contract with this company. Contracts are cleverly written. Unless you read all of the fine print and follow to the letter, experience can be very costly. They financed a telephone system for us, with option to purchase. Contract seemed reasonable at initiation; .we ended up paying what resulted in exorbitant rent on what became an obsolete system and then they set buy out price in excess of newer system. 

Aramis J. 

on BBB

8 years ago

This company prays on small business, they lie and provide zero customer service. Matthew Bartlett a sales guy is worst than a use car salesman I took out loan, everything was going well until they strayed villkng me for thousands of dollars that neither their customer service or Matthew Would give me any time of clear action Finally I talked to collections, after I was told the amount owed would be paid st the end of the loan, than I find out months later that they had reported me late on my personal credit report even th... read more

John W. 

on BBB

8 years ago

Balboa Capital attempted to withdraw funds from our account through an unauthorized ACH request. We are not a customer of Balboa and never have been. Fortunately our bank flagged the transaction as potentially fraudulent and we were able to stop it before losing the money. 

Rachel G. 

on BBB

8 years ago

how in the world do they have an A+ BBB rating when 85% of the reviews are negative. This company has terrible business practices and even worse customer relations. 

John C. 

on BBB

8 years ago

This company will continue to charge a non-insurance fee despite receiving the insurance information at least 10 times over the past 7 months. It's probably a service fee scam. I instructed my bank to block ACH drafts from this company because of this non-insurance fee scam. It's probably happened to other companies, so be vigilant!