Balboa Capital

Best for: Established businesses (2+ years, $100K+ in revenue, 640+ FICO) that want new or used equipment funded fast, without handing over financials on deals up to $500,000.

Not for: Anyone who wants to see a rate before applying, startups needing more than $50,000, or borrowers who expect bank-level transparency on fees and early payoff. Shop a bank or SBA lender first if you qualify.

Lender List verdict: Balboa Capital, now Ameris Bank Equipment Finance, is a fast, bank-owned equipment lender with a high application-only ceiling. The catch is opacity: rates, fees and prepayment terms are not published, and borrower reviews are sharply split, so read every line of the contract.

Balboa Capital at a glance

Balboa Capital now operates as Ameris Bank Equipment Finance, a division of Ameris Bank that finances equipment up to $500,000 on an application alone.

What is Balboa Capital?

Balboa Capital is a Costa Mesa, California equipment lender founded in 1988 that Ameris Bank bought in December 2021 and now runs as Ameris Bank Equipment Finance.

It reports more than $8 billion funded nationwide and also offers working capital loans, franchise and vendor financing, and SBA loans of $400,000 to $5 million.

How Balboa Capital equipment financing works

Balboa Capital equipment financing is a fixed-payment loan or lease of up to $500,000, approved from a short application for hard assets. A specialist follows up on a short inquiry with an online application.

• Application-only limits: up to $500,000 for hard collateral (machinery, vehicles) and $350,000 for soft collateral (software, furniture, fixtures).
• Younger businesses: select programs go up to $50,000 for companies 6 months to under 2 years old.
• Terms: usually 24, 36, 48 or 60 months; shorter for cheap or fast-depreciating gear.
• Loan or lease: loans carry fixed payments of principal, interest and fees; leases end with a choice to return, extend or buy the equipment. The site does not say whether $1-buyout or fair-market-value structures are offered.
• Used equipment: eligible for both loans and leases.
• Section 179: many leased equipment types may qualify for the deduction; ask your accountant.
• Speed: decisions within an hour during business hours (7am to 4pm PT, weekdays), with same-day funding once approved.

Balboa Capital rates and fees: what it really costs

Balboa Capital does not publish equipment rates; pricing depends on your credit, revenue, deal size and term, and United Capital Source cites a sample APR of about 18%.

• Charged (per NerdWallet): documentation fee, UCC filing fee, equipment inspection fee, prorated rent and sales tax
• Reported in complaints (per United Capital Source): insurance charges, unrefunded deposits and a $479 termination fee
• Not published: rate range, down payment, or early-payoff terms on equipment deals

Worked example: finance a $75,000 machine over 60 months at 18% APR (the sample rate, no down payment, fees excluded). The payment is about $1,905 a month, so you repay roughly $114,270, or about $39,270 in interest. At 10.98%, the top of the Federal Reserve's bank small-business range, the payment drops to about $1,630 and interest to roughly $22,800. Equipment financing generally runs 4% to 45% APR (NerdWallet), so get a written quote and amortization schedule.

Balboa Capital requirements

Balboa Capital asks for 2+ years in business, $100,000+ in annual revenue and a 640+ FICO on its equipment pages, plus a personal guarantee.

Its own pages disagree on credit and time in business, so confirm the bar with your rep.

Pros and cons

Balboa Capital's strengths are speed and a $500,000 application-only ceiling; its weaknesses are hidden pricing and a split reputation.

Pros

• $500,000 application-only limit for hard assets, $350,000 for soft costs
• One-hour decisions and same-day funding
• Finances used equipment and software
• Bank-owned (Ameris Bank, Member FDIC), lending since 1988
• Programs up to $50,000 for businesses under 2 years old

Cons

• No published rates, fees or prepayment policy
• Trustpilot score of 1.7/5 from 306 reviews, mostly older (3 in the last 12 months), citing up-front fees and insurance charges
• NerdWallet flags aggressive marketing calls and texts after you apply
• Inconsistent minimums across its own pages
• Personal guarantee required on equipment deals

Balboa Capital vs. National Funding vs. Crest Capital

Balboa Capital matches Crest Capital's $500,000 ceiling with a higher application-only limit; none of the three publishes an equipment rate range of its own.

National Funding and Crest Capital figures are from their own sites (National Funding equipment rate from Bankrate), checked 2026-10-26.

Choose Balboa Capital for a large deal decided in an hour without financials, National Funding if you are 6 months old, and Crest Capital for seasonal or step-up payments.

Balboa Capital alternatives on Lender List

Balboa Capital alternatives include other equipment lenders, plus Bluevine and Fundbox lines for non-equipment cash needs.

• Bluevine — a line of credit for working capital instead of an equipment loan
• Fundbox — a revolving line with a lower revenue bar
• Browse all equipment financing and leasing lenders on Lender List
• Browse all online term loans on Lender List

Balboa Capital reviews and frequently asked questions

Balboa Capital is a legitimate equipment lender owned by Ameris Bank, with unpublished rates and mixed borrower reviews.

Is Balboa Capital Legit? Yes. Balboa Capital has lent since 1988, belongs to Ameris Bank (Member FDIC) and reports an A+ BBB rating. Reviews split: 4.9 from 452 on its own site, 1.7/5 from 306 on Trustpilot (mostly older). In 2024 an appeals court held about $11.5 million it sought from 16 physicians unenforceable for missing loan terms.

Is Balboa Capital Now Ameris Bank? Yes. Ameris Bank acquired Balboa Capital in December 2021, and the business now operates as Ameris Bank Equipment Finance. Balboacapital.com now redirects to the Ameris site, which still calls Balboa Capital a division of the bank. Equipment loans, leases and working capital loans continue under the Ameris name.

Does Balboa Capital Finance Used Equipment? Yes. Balboa Capital finances and leases both new and used equipment, including commercial vehicles, machinery, computers, software, furniture and fixtures. Application-only approval runs up to $500,000 for hard assets and $350,000 for soft collateral such as software, with terms of 24 to 60 months.

What Credit Score Do You Need for Balboa Capital? About 640. Balboa Capital's equipment and leasing pages list a 640 FICO minimum, while its franchise page and NerdWallet cite 620 and an ad landing page says all credit is considered. Meeting the minimum does not guarantee approval; revenue, time in business and the equipment also count.

Can I Pay Off a Balboa Capital Loan Early? It depends on the product. Balboa Capital's working capital loans can be prepaid at any time with no penalty, but its equipment pages do not state a prepayment policy, and NerdWallet warns early-payoff fees are possible. Ask for the payoff terms in writing before you sign.

Does Balboa Capital Offer Leases or Loans? Both. Balboa Capital offers equipment loans with fixed monthly payments and leases that let you return, extend or buy the equipment at the end. It also offers working capital loans of $20,000 to $250,000 over 3 to 24 months, repaid daily or weekly.

Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.