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Balboa Capital Reports 93% Y/Y Jump in Q2 Originations, Hires 25 Employees

July 30, 2021, 07:24 AM

Balboa Capital announced financial results for its fiscal 2021 second quarter ending June 30. In Q2 2021, the company achieved 93 percent origination growth over Q2 2020. Additionally, the company added 25 new employees during the quarter, a 56 percent increase in hiring over Q2 2020.

“Despite the challenges that small businesses faced last year, they are rebounding in 2021 as the economy continues to accelerate and build upon this wave of momentum,” said Phil Silva, President of Balboa Capital. “There has never been a better time for our nation’s resilient business owners to have easy access to growth capital, and Balboa Capital continues to deliver. The strong demand for our small business funding products helped us post impressive quarter-over-quarter growth. We are proud of this performance because it supports our strategic goals, reinforces our position as a leading independent financing company, and enables us to keep providing small business owners with funding that will fuel the success of their businesses.”

Silva said Balboa Capital expanded its staff to meet the needs of its customers and equipment vendor partners. “Providing responsive account management, attentive customer service and delivering easy and convenient funding requires top-notch talent. We expanded our sales, operations, funding and customer service departments in Q2 with some truly talented, team-oriented and experienced individuals.”

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